Scientech Research LLC Takes $683,000 Position in First Industrial Realty Trust, Inc. $FR

Key Points

• Scientech Research LLC has invested approximately $683,000 in First Industrial Realty Trust, Inc., acquiring 12,659 shares in the first quarter of 2023.
• Institutional investors now hold 99.85% of First Industrial Realty Trust's stock, reflecting a strong interest among large financial entities.
• First Industrial Realty Trust recently announced a quarterly dividend of $0.445 per share, representing an annualized dividend yield of 3.4%.

Scientech Research LLC bought a new position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 12,659 shares of the real estate investment trust's stock, valued at approximately $683,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FR. Vanguard Group Inc. raised its position in First Industrial Realty Trust by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 19,349,577 shares of the real estate investment trust's stock valued at $1,044,103,000 after purchasing an additional 158,692 shares in the last quarter. Invesco Ltd. boosted its stake in shares of First Industrial Realty Trust by 2.0% in the first quarter. Invesco Ltd. now owns 4,364,135 shares of the real estate investment trust's stock worth $235,489,000 after buying an additional 87,229 shares during the last quarter. Millennium Management LLC boosted its stake in shares of First Industrial Realty Trust by 159.5% in the first quarter. Millennium Management LLC now owns 2,260,701 shares of the real estate investment trust's stock worth $121,987,000 after buying an additional 1,389,418 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in First Industrial Realty Trust by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,212,857 shares of the real estate investment trust's stock worth $119,406,000 after purchasing an additional 6,977 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC lifted its position in shares of First Industrial Realty Trust by 381.2% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,070,197 shares of the real estate investment trust's stock valued at $111,708,000 after acquiring an additional 1,639,952 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FR shares. Wall Street Zen raised First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Wells Fargo & Company dropped their price objective on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Scotiabank lifted their price objective on First Industrial Realty Trust from $51.00 to $54.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 27th. Finally, Mizuho lifted their target price on First Industrial Realty Trust from $53.00 to $56.00 and gave the company an "outperform" rating in a report on Monday, September 8th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $54.80.

First Industrial Realty Trust Stock Performance

FR stock traded down $0.48 during trading on Friday, hitting $52.16. The company had a trading volume of 759,288 shares, compared to its average volume of 879,978. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average price of $50.02 and a 200-day moving average price of $50.16. First Industrial Realty Trust, Inc. has a 1-year low of $40.31 and a 1-year high of $58.17. The firm has a market cap of $6.91 billion, a PE ratio of 25.44 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.04. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%.The company had revenue of $180.16 million for the quarter, compared to analysts' expectations of $176.46 million. During the same quarter in the previous year, the firm posted $0.66 EPS. The firm's quarterly revenue was up 9.8% on a year-over-year basis. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. On average, analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, September 30th. First Industrial Realty Trust's dividend payout ratio is presently 86.83%.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc NYSE: FR is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.