Third Avenue Management LLC Has $7.26 Million Stake in First Industrial Realty Trust, Inc. $FR

Key Points

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Third Avenue Management LLC trimmed its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 14.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 134,558 shares of the real estate investment trust's stock after selling 22,572 shares during the period. First Industrial Realty Trust makes up approximately 1.5% of Third Avenue Management LLC's investment portfolio, making the stock its 23rd largest holding. Third Avenue Management LLC owned 0.10% of First Industrial Realty Trust worth $7,261,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Nuveen LLC bought a new stake in First Industrial Realty Trust during the first quarter worth about $42,063,000. Artemis Investment Management LLP bought a new stake in First Industrial Realty Trust during the first quarter worth about $40,294,000. Deutsche Bank AG raised its holdings in First Industrial Realty Trust by 56.1% during the fourth quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust's stock worth $94,176,000 after acquiring an additional 675,306 shares in the last quarter. Rush Island Management LP raised its holdings in First Industrial Realty Trust by 50.9% during the fourth quarter. Rush Island Management LP now owns 1,640,530 shares of the real estate investment trust's stock worth $82,240,000 after acquiring an additional 553,567 shares in the last quarter. Finally, Argosy Lionbridge Management LLC bought a new stake in First Industrial Realty Trust during the fourth quarter worth about $26,447,000. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Stock Performance

NYSE:FR traded up $2.0120 on Friday, hitting $51.5620. The company's stock had a trading volume of 909,544 shares, compared to its average volume of 748,215. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock has a fifty day moving average of $49.17 and a two-hundred day moving average of $50.57. The firm has a market capitalization of $6.83 billion, a P/E ratio of 25.15 and a beta of 1.04. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17.

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

First Industrial Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a $0.445 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.78 annualized dividend and a dividend yield of 3.5%. First Industrial Realty Trust's dividend payout ratio is presently 86.83%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FR shares. Robert W. Baird dropped their target price on First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their target price on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Barclays dropped their target price on First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Finally, Scotiabank upped their price objective on First Industrial Realty Trust from $50.00 to $51.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $55.10.

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.