VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Holdings in First Industrial Realty Trust, Inc. $FR

Key Points

• Virginia Retirement Systems acquired a new stake in First Industrial Realty Trust, purchasing 337,390 shares valued at approximately $16.24 million during Q2.
• Institutional investors own 99.85% of First Industrial Realty Trust, indicating strong institutional interest in the stock.
• The firm declared a quarterly dividend of $0.445 per share, which will be paid to investors of record on September 30th, representing a yield of 3.2%.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 337,390 shares of the real estate investment trust's stock, valued at approximately $16,239,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.25% of First Industrial Realty Trust as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FR. Cbre Investment Management Listed Real Assets LLC increased its stake in First Industrial Realty Trust by 381.2% during 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 during the period. PGGM Investments bought a new position in First Industrial Realty Trust during the second quarter valued at about $77,038,000. Millennium Management LLC increased its stake in First Industrial Realty Trust by 159.5% during the first quarter. Millennium Management LLC now owns 2,260,701 shares of the real estate investment trust's stock valued at $121,987,000 after acquiring an additional 1,389,418 shares during the period. Nuveen LLC bought a new position in First Industrial Realty Trust during the first quarter valued at about $42,063,000. Finally, Artemis Investment Management LLP bought a new position in First Industrial Realty Trust during the first quarter valued at about $40,294,000. 99.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FR shares. Cantor Fitzgerald started coverage on First Industrial Realty Trust in a research note on Wednesday, October 1st. They issued a "neutral" rating and a $55.00 price objective on the stock. Royal Bank Of Canada reiterated an "outperform" rating and issued a $60.00 price objective on shares of First Industrial Realty Trust in a research note on Monday, September 29th. Industrial Alliance Securities set a $55.00 price objective on First Industrial Realty Trust in a research note on Wednesday, October 1st. Mizuho upped their price objective on First Industrial Realty Trust from $53.00 to $56.00 and gave the company an "outperform" rating in a research note on Monday, September 8th. Finally, Scotiabank upped 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. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $55.00.

First Industrial Realty Trust Stock Up 1.3%

NYSE FR opened at $55.15 on Monday. The firm has a market cap of $7.30 billion, a PE ratio of 30.81 and a beta of 1.07. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17. The stock's 50 day simple moving average is $51.41 and its 200 day simple moving average is $49.60. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.91 and a quick ratio of 1.04.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.02. The business had revenue of $181.43 million for the quarter, compared to analyst estimates of $182.63 million. First Industrial Realty Trust had a return on equity of 8.65% and a net margin of 33.18%.First Industrial Realty Trust's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. As a group, sell-side analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be given a dividend of $0.445 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.78 dividend on an annualized basis and a yield of 3.2%. First Industrial Realty Trust's dividend payout ratio is 99.44%.

About First Industrial Realty Trust

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.

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