Strs Ohio Acquires Shares of 121,801 First Industrial Realty Trust, Inc. $FR

Key Points

• Strs Ohio has acquired 121,801 shares of First Industrial Realty Trust, valued at approximately $6.57 million, representing about 0.09% of the company's stock as of the last quarter.
• Several hedge funds have increased their stakes in First Industrial Realty Trust, with notable increases from Jane Street Group LLC (2,549.4%) and Woodline Partners LP (182.0%).
• The company's recent quarterly earnings report showed $0.76 earnings per share, exceeding analyst estimates, along with a projected annual dividend yield of 3.4% set to be paid out on October 20th.

Strs Ohio acquired a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 121,801 shares of the real estate investment trust's stock, valued at approximately $6,572,000. Strs Ohio owned 0.09% of First Industrial Realty Trust at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Captrust Financial Advisors bought a new stake in shares of First Industrial Realty Trust in the fourth quarter valued at about $203,000. Cetera Investment Advisers lifted its holdings in shares of First Industrial Realty Trust by 6.6% during the 4th quarter. Cetera Investment Advisers now owns 19,280 shares of the real estate investment trust's stock worth $967,000 after acquiring an additional 1,193 shares during the period. Lazard Asset Management LLC increased its position in First Industrial Realty Trust by 44.8% during the 4th quarter. Lazard Asset Management LLC now owns 16,119 shares of the real estate investment trust's stock worth $808,000 after purchasing an additional 4,990 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in shares of First Industrial Realty Trust by 2.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 19,294 shares of the real estate investment trust's stock valued at $972,000 after purchasing an additional 498 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its stake in First Industrial Realty Trust by 72.2% during the fourth quarter. Quantinno Capital Management LP now owns 99,356 shares of the real estate investment trust's stock worth $4,981,000 after acquiring an additional 41,670 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FR. Mizuho lifted their target price on shares of First Industrial Realty Trust from $53.00 to $56.00 and gave the stock an "outperform" rating in a research note on Monday, September 8th. Wall Street Zen upgraded shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Scotiabank boosted their price objective on shares of First Industrial Realty Trust from $51.00 to $54.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 27th. Finally, Wells Fargo & Company reduced their price target 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. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $54.80.

First Industrial Realty Trust Stock Up 0.2%

FR traded up $0.11 on Tuesday, hitting $52.01. The company had a trading volume of 792,708 shares, compared to its average volume of 874,444. First Industrial Realty Trust, Inc. has a 12-month low of $40.31 and a 12-month high of $58.17. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 25.37 and a beta of 1.08. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a fifty day moving average price of $50.15 and a 200-day moving average price of $50.14.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $180.16 million for the quarter, compared to analyst estimates of $176.46 million. During the same quarter in the prior year, the firm earned $0.66 earnings per share. First Industrial Realty Trust's revenue for the quarter 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. Analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

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

First Industrial Realty Trust 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.