Woodline Partners LP Acquires 513,505 Shares of First Industrial Realty Trust, Inc. $FR

Key Points

• Woodline Partners LP has significantly increased its stake in First Industrial Realty Trust by 182%, now holding 795,709 shares worth approximately $42.9 million.
• Several other hedge funds have also raised their positions in First Industrial Realty Trust, with Cbre Investment Management increasing its holdings by 381.2% to 2,070,197 shares.
• First Industrial Realty Trust recently reported a quarterly EPS of $0.76, exceeding expectations and showing a 9.8% year-over-year revenue growth to $180.16 million.

Woodline Partners LP raised its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 182.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 795,709 shares of the real estate investment trust's stock after acquiring an additional 513,505 shares during the quarter. Woodline Partners LP owned approximately 0.60% of First Industrial Realty Trust worth $42,936,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of FR. Cbre Investment Management Listed Real Assets LLC raised its holdings 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. Millennium Management LLC increased its holdings in shares of First Industrial Realty Trust by 159.5% in the first quarter. Millennium Management LLC now owns 2,260,701 shares of the real estate investment trust's stock worth $121,987,000 after purchasing an additional 1,389,418 shares during the last quarter. Nuveen LLC bought a new stake in shares of First Industrial Realty Trust in the first quarter worth about $42,063,000. Artemis Investment Management LLP bought a new stake in shares of First Industrial Realty Trust in the first quarter worth about $40,294,000. Finally, Deutsche Bank AG increased its holdings in shares of First Industrial Realty Trust by 56.1% in 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 purchasing an additional 675,306 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Trading Down 0.9%

NYSE FR traded down $0.48 during trading hours on Friday, hitting $52.16. 759,288 shares of the company were exchanged, compared to its average volume of 876,064. The stock has a 50-day moving average price of $50.02 and a 200 day moving average price of $50.21. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. First Industrial Realty Trust, Inc. has a 52 week low of $40.31 and a 52 week high of $58.17. The stock has a market cap of $6.91 billion, a PE ratio of 25.44 and a beta of 1.08.

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 for the quarter, topping the consensus estimate 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 company had revenue of $180.16 million for the quarter, compared to analysts' expectations of $176.46 million. During the same period in the previous year, the firm posted $0.66 earnings per share. The firm'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 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 announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, September 30th. First Industrial Realty Trust's payout ratio is 86.83%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FR. Mizuho lifted their target price on First Industrial Realty Trust from $53.00 to $56.00 and gave the stock an "outperform" rating in a report on Monday, September 8th. Wells Fargo & Company reduced their target price on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Wall Street Zen raised First Industrial Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Scotiabank lifted their target price on First Industrial Realty Trust from $51.00 to $54.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 27th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $54.80.

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.