Metis Global Partners LLC Raises Stake in First Industrial Realty Trust, Inc. $FR

Metis Global Partners LLC lifted its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 30.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,913 shares of the real estate investment trust’s stock after purchasing an additional 5,144 shares during the quarter. Metis Global Partners LLC’s holdings in First Industrial Realty Trust were worth $1,055,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FR. IFP Advisors Inc grew its position in First Industrial Realty Trust by 272.5% during the second 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 during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of First Industrial Realty Trust during the 1st quarter valued at approximately $69,000. Fifth Third Bancorp boosted its stake 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 acquiring an additional 206 shares in the last quarter. Hantz Financial Services Inc. grew its holdings 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 worth $81,000 after acquiring an additional 1,644 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in First Industrial Realty Trust in the 2nd quarter valued at approximately $87,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays set a $54.00 target price on First Industrial Realty Trust in a research report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Industrial Realty Trust in a research report on Friday, October 31st. Scotiabank increased their price objective on shares of First Industrial Realty Trust from $54.00 to $57.00 and gave the company a “sector perform” rating in a research note on Monday. Wells Fargo & Company lifted their target price on shares of First Industrial Realty Trust from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, October 27th. Finally, Mizuho increased their price target on shares of First Industrial Realty Trust from $53.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday, September 8th. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $57.00.

First Industrial Realty Trust Stock Up 1.0%

FR stock opened at $56.60 on Wednesday. The company has a 50 day moving average price of $53.25 and a two-hundred day moving average price of $50.78. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $7.49 billion, a P/E ratio of 31.62 and a beta of 1.09. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data 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. First Industrial Realty Trust had a net margin of 33.18% and a return on equity of 8.65%. The company had revenue of $181.43 million during the quarter, compared to the consensus estimate of $182.63 million. During the same quarter in the prior year, the company posted $0.69 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. As a group, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 20th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.445 per share. 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 payout ratio is presently 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.