Waverly Advisors LLC Purchases New Shares in First Industrial Realty Trust, Inc. $FR

Waverly Advisors LLC purchased a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 13,500 shares of the real estate investment trust’s stock, valued at approximately $781,000.

A number of other hedge funds have also recently added to or reduced their stakes in FR. Northwestern Mutual Wealth Management Co. raised its stake in shares of First Industrial Realty Trust by 856,065.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock worth $560,443,000 after acquiring an additional 9,784,830 shares during the last quarter. Norges Bank bought a new stake in shares of First Industrial Realty Trust during the fourth quarter valued at approximately $320,075,000. Invesco Ltd. grew its stake in shares of First Industrial Realty Trust by 8.0% during the third quarter. Invesco Ltd. now owns 4,343,723 shares of the real estate investment trust’s stock valued at $223,571,000 after purchasing an additional 323,248 shares during the last quarter. Centersquare Investment Management LLC increased its holdings in shares of First Industrial Realty Trust by 10.5% in the fourth quarter. Centersquare Investment Management LLC now owns 2,649,757 shares of the real estate investment trust’s stock valued at $151,752,000 after purchasing an additional 252,650 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of First Industrial Realty Trust by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 2,629,908 shares of the real estate investment trust’s stock valued at $150,644,000 after purchasing an additional 41,042 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on FR shares. Truist Financial upped their price objective on First Industrial Realty Trust from $67.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Barclays lifted their target price on First Industrial Realty Trust from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of First Industrial Realty Trust in a research note on Thursday, June 18th. Wall Street Zen upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Wells Fargo & Company lowered their price objective on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $66.21.

First Industrial Realty Trust Price Performance

Shares of FR stock opened at $65.99 on Friday. First Industrial Realty Trust, Inc. has a 52-week low of $47.38 and a 52-week high of $69.88. The stock has a market cap of $8.75 billion, a PE ratio of 24.08 and a beta of 1.05. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.44 and a current ratio of 1.44. The firm’s 50 day moving average price is $63.83 and its two-hundred day moving average price is $61.57.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.58 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.22). The business had revenue of $194.94 million for the quarter, compared to the consensus estimate of $195.81 million. First Industrial Realty Trust had a net margin of 47.97% and a return on equity of 12.99%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. As a group, analysts forecast that First Industrial Realty Trust, Inc. will post 3.16 EPS for the current year.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.