VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 337,390 First Industrial Realty Trust, Inc. $FR

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in First Industrial Realty Trust, Inc. (NYSE:FR) during the second quarter, according to its most recent filing with the SEC. The firm acquired 337,390 shares of the real estate investment trust’s stock, valued at approximately $16,239,000.

Other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its position in First Industrial Realty Trust by 26.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,935 shares of the real estate investment trust’s stock valued at $536,000 after buying an additional 2,106 shares during the last quarter. GAMMA Investing LLC boosted its position in First Industrial Realty Trust by 55.4% in the 1st quarter. GAMMA Investing LLC now owns 1,681 shares of the real estate investment trust’s stock valued at $91,000 after buying an additional 599 shares during the last quarter. Summit Trail Advisors LLC boosted its position in First Industrial Realty Trust by 155.1% in the 1st quarter. Summit Trail Advisors LLC now owns 10,718 shares of the real estate investment trust’s stock valued at $583,000 after buying an additional 6,516 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of First Industrial Realty Trust in the 1st quarter valued at $481,000. Finally, Artemis Investment Management LLP acquired a new position in shares of First Industrial Realty Trust in the 1st quarter valued at $40,294,000. 99.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FR has been the topic of a number of analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $60.00 price target on shares of First Industrial Realty Trust in a research note on Monday, September 29th. Cantor Fitzgerald initiated coverage on First Industrial Realty Trust in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $55.00 price target on the stock. 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. Industrial Alliance Securities set a $55.00 price target on First Industrial Realty Trust in a research note on Wednesday, October 1st. Finally, Mizuho increased their price target on 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 research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, First Industrial Realty Trust has an average rating of “Hold” and an average target price of $55.00.

First Industrial Realty Trust Stock Performance

Shares of First Industrial Realty Trust stock opened at $55.15 on Monday. The company has a market capitalization of $7.30 billion, a PE ratio of 30.81 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $58.17. The company has a current ratio of 0.91, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock’s fifty day simple moving average is $51.41 and its 200 day simple moving average is $49.60.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. The business had revenue of $181.43 million for the quarter, compared to the consensus estimate of $182.63 million. First Industrial Realty Trust had a return on equity of 8.65% and a net margin of 33.18%.The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. On average, research analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be paid a $0.445 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.78 annualized dividend and a dividend yield of 3.2%. First Industrial Realty Trust’s dividend payout ratio (DPR) 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.