Tributary Capital Management LLC Sells 300 Shares of First Industrial Realty Trust, Inc. $FR

Tributary Capital Management LLC decreased its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,010 shares of the real estate investment trust’s stock after selling 300 shares during the quarter. Tributary Capital Management LLC’s holdings in First Industrial Realty Trust were worth $434,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FR. Cbre Investment Management Listed Real Assets LLC raised its holdings in First Industrial Realty Trust by 381.2% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,070,197 shares of the real estate investment trust’s stock worth $111,708,000 after purchasing an additional 1,639,952 shares during the last quarter. PGGM Investments bought a new position in First Industrial Realty Trust during the 2nd quarter worth approximately $77,038,000. Millennium Management LLC raised its holdings in 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 worth $121,987,000 after purchasing an additional 1,389,418 shares during the last quarter. Nuveen LLC bought a new position in First Industrial Realty Trust during the 1st quarter worth approximately $42,063,000. Finally, Artemis Investment Management LLP bought a new position in First Industrial Realty Trust during the 1st quarter worth approximately $40,294,000. Institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wall Street Zen upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Industrial Alliance Securities set a $55.00 price objective on shares of First Industrial Realty Trust in a research note on Wednesday, October 1st. 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. Scotiabank lifted their price objective 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, August 27th. Finally, Mizuho lifted their price objective on shares of 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. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, First Industrial Realty Trust presently has an average rating of “Hold” and an average target price of $56.00.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $55.81 on Friday. The company has a fifty day moving average of $52.00 and a 200-day moving average of $49.82. The firm has a market capitalization of $7.39 billion, a P/E ratio of 31.18 and a beta of 1.07. The company has a quick ratio of 1.04, a current ratio of 0.91 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) last announced its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $181.43 million during the quarter, compared to analyst estimates of $182.63 million. First Industrial Realty Trust had a net margin of 33.18% and a return on equity of 8.65%. 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 business posted $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 anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

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

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.