Y Intercept Hong Kong Ltd Boosts Stake in First Industrial Realty Trust, Inc. $FR

Y Intercept Hong Kong Ltd raised its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 521.0% during the second quarter, Holdings Channel.com reports. The firm owned 114,343 shares of the real estate investment trust’s stock after purchasing an additional 95,931 shares during the period. Y Intercept Hong Kong Ltd’s holdings in First Industrial Realty Trust were worth $5,503,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of First Industrial Realty Trust by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 19,349,577 shares of the real estate investment trust’s stock valued at $1,044,103,000 after buying an additional 158,692 shares during the period. Invesco Ltd. raised its holdings in shares of First Industrial Realty Trust by 2.0% in the 1st quarter. Invesco Ltd. now owns 4,364,135 shares of the real estate investment trust’s stock valued at $235,489,000 after buying an additional 87,229 shares during the period. Millennium Management LLC raised its holdings in shares of First Industrial Realty Trust by 159.5% in 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 buying an additional 1,389,418 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of First Industrial Realty Trust by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,212,857 shares of the real estate investment trust’s stock valued at $119,406,000 after buying an additional 6,977 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of 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 buying an additional 1,639,952 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on FR. Industrial Alliance Securities set a $55.00 price objective on First Industrial Realty Trust in a report on Wednesday, October 1st. Royal Bank Of Canada boosted their price objective on First Industrial Realty Trust from $60.00 to $64.00 and gave the company an “outperform” rating in a report on Friday. Mizuho boosted their target price on First Industrial Realty Trust from $53.00 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, September 8th. The Goldman Sachs Group boosted their target price on First Industrial Realty Trust from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Finally, Wells Fargo & Company boosted their target price on First Industrial Realty Trust from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, First Industrial Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $56.58.

First Industrial Realty Trust Trading Up 0.8%

NYSE:FR opened at $56.55 on Tuesday. The stock has a 50-day simple moving average of $52.30 and a 200-day simple moving average of $50.05. The stock has a market cap of $7.49 billion, a P/E ratio of 31.59 and a beta of 1.07. 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 quick ratio of 0.91 and a current ratio of 0.91.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.02. The business had revenue of $181.43 million during 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%.The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. As a group, analysts anticipate 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 30th. First Industrial Realty Trust’s dividend payout ratio is currently 99.44%.

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.