Scientech Research LLC Acquires New Stake 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 purchased a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 12,659 shares of the real estate investment trust's stock, valued at approximately $683,000.

Other large investors have also recently bought and sold shares of the company. Cbre Investment Management Listed Real Assets LLC lifted its stake in shares of First Industrial Realty Trust by 381.2% in the 1st 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 purchasing an additional 1,639,952 shares during the period. Millennium Management LLC increased its holdings in First Industrial Realty Trust by 159.5% during the 1st quarter. Millennium Management LLC now owns 2,260,701 shares of the real estate investment trust's stock worth $121,987,000 after purchasing an additional 1,389,418 shares in the last quarter. Nuveen LLC bought a new position in shares of First Industrial Realty Trust in the 1st quarter valued at about $42,063,000. Artemis Investment Management LLP bought a new position in shares of First Industrial Realty Trust in the 1st quarter valued at about $40,294,000. Finally, Deutsche Bank AG lifted its stake in First Industrial Realty Trust by 56.1% in the 4th quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust's stock valued at $94,176,000 after purchasing an additional 675,306 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

Analyst Ratings Changes

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

First Industrial Realty Trust Stock Down 0.9%

FR stock traded down $0.48 during trading on Friday, reaching $52.16. The stock had a trading volume of 759,288 shares, compared to its average volume of 1,233,960. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17. The company's 50 day moving average is $49.96 and its two-hundred day moving average is $50.28. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of 25.44 and a beta of 1.08. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

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 for the quarter, beating analysts' consensus estimates of $0.72 by $0.04. The firm had revenue of $180.16 million during the quarter, compared to the consensus estimate of $176.46 million. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. The company's revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. Equities research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.445 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.78 annualized dividend and a dividend yield of 3.4%. First Industrial Realty Trust's dividend payout ratio (DPR) is currently 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.