Wellington Management Group LLP Has $27.92 Million Stock Position in First Industrial Realty Trust, Inc. $FR

Key Points

• Wellington Management Group LLP increased its holdings in First Industrial Realty Trust by 123.7%, owning 517,378 shares worth approximately $27.92 million as of the latest SEC filing.
• First Industrial Realty Trust's stock is currently trading at $51.56, with a 52-week range of $40.31 to $58.17, and has a market capitalization of $6.83 billion.
• The company reported $0.76 EPS for the last quarter, exceeding analysts' expectations of $0.72, and announced a quarterly dividend of $0.445 scheduled for October 20th.

Wellington Management Group LLP boosted its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 123.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 517,378 shares of the real estate investment trust's stock after acquiring an additional 286,088 shares during the quarter. Wellington Management Group LLP owned approximately 0.39% of First Industrial Realty Trust worth $27,918,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FR. Bessemer Group Inc. grew its holdings in First Industrial Realty Trust by 93.0% during the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 225 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in First Industrial Realty Trust during the 1st quarter worth about $26,000. Parallel Advisors LLC grew its holdings in First Industrial Realty Trust by 285.1% during the 1st quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock worth $60,000 after acquiring an additional 821 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in First Industrial Realty Trust during the 1st quarter worth about $69,000. Finally, Fifth Third Bancorp grew its holdings in First Industrial Realty Trust by 22.2% during the 1st quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock worth $70,000 after acquiring an additional 236 shares during the last quarter. Institutional investors own 99.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FR shares. Robert W. Baird reduced 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. Truist Financial reduced 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. 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. Scotiabank raised their target price on shares of First Industrial Realty Trust from $51.00 to $54.00 and gave the company a "sector perform" rating in a research note on Wednesday. Finally, Wells Fargo & Company reduced their target price on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $55.40.

First Industrial Realty Trust Trading Down 0.3%

Shares of NYSE:FR traded down $0.17 during mid-day trading on Thursday, reaching $52.27. The stock had a trading volume of 677,599 shares, compared to its average volume of 1,250,470. The firm has a market cap of $6.92 billion, a PE ratio of 25.50 and a beta of 1.04. The firm has a 50 day simple moving average of $49.33 and a two-hundred day simple moving average of $50.56. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88. First Industrial Realty Trust, Inc. has a twelve month low of $40.31 and a twelve month high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its quarterly 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 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%. First Industrial Realty Trust's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the company posted $0.66 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. On average, research analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

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 given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend 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.