Thrivent Financial for Lutherans Sells 191,779 Shares of First Industrial Realty Trust, Inc. $FR

Thrivent Financial for Lutherans lowered its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 8.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,071,778 shares of the real estate investment trust’s stock after selling 191,779 shares during the quarter. Thrivent Financial for Lutherans owned about 1.56% of First Industrial Realty Trust worth $99,715,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Elevation Point Wealth Partners LLC bought a new stake in shares of First Industrial Realty Trust during the 2nd quarter valued at about $40,000. True Wealth Design LLC lifted its stake in First Industrial Realty Trust by 988.7% in the second quarter. True Wealth Design LLC now owns 1,252 shares of the real estate investment trust’s stock valued at $60,000 after buying an additional 1,137 shares during the period. IFP Advisors Inc boosted its holdings in shares of First Industrial Realty Trust by 272.5% during the 2nd quarter. IFP Advisors Inc now owns 1,330 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 973 shares in the last quarter. Fifth Third Bancorp grew its position in shares of First Industrial Realty Trust by 15.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,503 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 206 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in shares of First Industrial Realty Trust by 4,697.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,679 shares of the real estate investment trust’s stock valued at $81,000 after acquiring an additional 1,644 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on FR. Scotiabank raised their price target on shares of First Industrial Realty Trust from $54.00 to $57.00 and gave the stock a “sector perform” rating in a report on Monday, November 10th. JPMorgan Chase & Co. raised their target price on First Industrial Realty Trust from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Barclays set a $54.00 price target on First Industrial Realty Trust in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of First Industrial Realty Trust in a report on Friday, October 31st. Finally, UBS Group set a $62.00 target price on First Industrial Realty Trust in a report on Thursday, December 4th. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, First Industrial Realty Trust currently has an average rating of “Hold” and a consensus target price of $57.85.

First Industrial Realty Trust Stock Performance

Shares of FR opened at $58.21 on Friday. The firm has a market capitalization of $7.71 billion, a P/E ratio of 32.52 and a beta of 1.13. First Industrial Realty Trust, Inc. has a 52 week low of $40.31 and a 52 week high of $59.43. The stock has a 50 day moving average price of $55.56 and a two-hundred day moving average price of $51.98. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.91 and a current ratio of 0.91.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. The company had revenue of $181.43 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.69 earnings per share. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. Equities analysts forecast 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, January 20th. Stockholders of record on Wednesday, December 31st will be issued a $0.445 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.78 annualized dividend and a dividend yield of 3.1%. First Industrial Realty Trust’s dividend payout ratio is currently 99.44%.

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.