Third Avenue Management LLC Trims Holdings in First Industrial Realty Trust, Inc. $FR

Key Points

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Third Avenue Management LLC trimmed its holdings in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 14.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 134,558 shares of the real estate investment trust's stock after selling 22,572 shares during the quarter. First Industrial Realty Trust accounts for about 1.5% of Third Avenue Management LLC's holdings, making the stock its 23rd biggest holding. Third Avenue Management LLC owned approximately 0.10% of First Industrial Realty Trust worth $7,261,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of First Industrial Realty Trust by 26.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,935 shares of the real estate investment trust's stock worth $536,000 after acquiring an additional 2,106 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of First Industrial Realty Trust by 55.4% in the first quarter. GAMMA Investing LLC now owns 1,681 shares of the real estate investment trust's stock worth $91,000 after buying an additional 599 shares during the period. Summit Trail Advisors LLC increased its stake in shares of First Industrial Realty Trust by 155.1% in the first quarter. Summit Trail Advisors LLC now owns 10,718 shares of the real estate investment trust's stock worth $583,000 after buying an additional 6,516 shares during the period. SG Americas Securities LLC purchased a new position in shares of First Industrial Realty Trust in the first quarter worth $481,000. Finally, ProShare Advisors LLC increased its stake in shares of First Industrial Realty Trust by 7.3% in the fourth quarter. ProShare Advisors LLC now owns 6,192 shares of the real estate investment trust's stock worth $310,000 after buying an additional 423 shares during the period. 99.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays decreased their target price on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Scotiabank lifted their target price on shares of First Industrial Realty Trust from $50.00 to $51.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Truist Financial decreased their target price on shares of First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Robert W. Baird decreased their target price on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Finally, 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. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $55.10.

First Industrial Realty Trust Trading Up 4.1%

First Industrial Realty Trust stock traded up $2.0120 during mid-day trading on Friday, reaching $51.5620. 909,544 shares of the company traded hands, compared to its average volume of 749,198. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 1.04. The firm's 50 day moving average price is $49.17 and its 200 day moving average price is $50.62. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 25.15 and a beta of 1.04. First Industrial Realty Trust, Inc. has a 52-week low of $40.31 and a 52-week high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.04. The business had revenue of $180.16 million for 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 quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. On average, analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.5%. First Industrial Realty Trust's dividend payout ratio 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.