Woodline Partners LP Increases Stake in 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 grew its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 182.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 795,709 shares of the real estate investment trust's stock after buying an additional 513,505 shares during the period. Woodline Partners LP owned 0.60% of First Industrial Realty Trust worth $42,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Cbre Investment Management Listed Real Assets LLC increased its holdings in First Industrial Realty Trust by 381.2% in the 1st 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 last quarter. Millennium Management LLC boosted its holdings in shares of First Industrial Realty Trust by 159.5% during the 1st quarter. Millennium Management LLC now owns 2,260,701 shares of the real estate investment trust's stock valued at $121,987,000 after purchasing an additional 1,389,418 shares during the last quarter. Nuveen LLC purchased a new position in shares of First Industrial Realty Trust during the first quarter valued at about $42,063,000. Artemis Investment Management LLP purchased a new position in shares of First Industrial Realty Trust during the first quarter valued at 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. Hedge funds and other institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Trading Down 0.1%

Shares of NYSE FR opened at $52.21 on Tuesday. First Industrial Realty Trust, Inc. has a 1-year low of $40.31 and a 1-year high of $58.17. 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 business's 50 day moving average is $49.80 and its two-hundred day moving average is $50.30. The stock has a market capitalization of $6.91 billion, a P/E ratio of 25.47 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted 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 business had revenue of $180.16 million during 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 company's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the company earned $0.66 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. As a group, research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 30th. First Industrial Realty Trust's payout ratio is presently 86.83%.

Wall Street Analysts Forecast Growth

FR has been the subject of a number of research reports. Scotiabank increased their price target 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. Mizuho upped their price objective on First Industrial Realty Trust from $53.00 to $56.00 and gave the stock an "outperform" rating in a report on Monday. Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Wells Fargo & Company cut their target price on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $54.80.

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.

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