OVERSEA CHINESE BANKING Corp Ltd Has $5.63 Million Stock Position in First Industrial Realty Trust, Inc. $FR

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 32.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 116,896 shares of the real estate investment trust’s stock after acquiring an additional 28,388 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in First Industrial Realty Trust were worth $5,626,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in First Industrial Realty Trust by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,349,577 shares of the real estate investment trust’s stock worth $1,044,103,000 after purchasing an additional 158,692 shares during the period. Invesco Ltd. grew its holdings in First Industrial Realty Trust by 2.0% during the first quarter. Invesco Ltd. now owns 4,364,135 shares of the real estate investment trust’s stock worth $235,489,000 after purchasing an additional 87,229 shares during the period. Millennium Management LLC grew its holdings in First Industrial Realty Trust by 159.5% during the first 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 period. Charles Schwab Investment Management Inc. grew its holdings in First Industrial Realty Trust by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,212,857 shares of the real estate investment trust’s stock worth $119,406,000 after purchasing an additional 6,977 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC grew its holdings in First Industrial Realty Trust by 381.2% during the first 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 period. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Trading Up 0.6%

Shares of NYSE:FR opened at $56.07 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.88. First Industrial Realty Trust, Inc. has a 12-month low of $40.31 and a 12-month high of $58.17. The business has a 50 day moving average of $52.14 and a 200-day moving average of $49.98. The stock has a market cap of $7.42 billion, a PE ratio of 31.32 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 earnings per share 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 period in the previous year, the business earned $0.69 earnings per share. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. As a group, equities research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

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

Wall Street Analysts Forecast Growth

FR has been the subject of a number of research analyst reports. Scotiabank lifted their price target on First Industrial Realty Trust from $51.00 to $54.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 27th. Royal Bank Of Canada boosted their price objective on First Industrial Realty Trust from $60.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday. Industrial Alliance Securities set a $55.00 price objective on First Industrial Realty Trust in a report on Wednesday, October 1st. Mizuho boosted their price objective on First Industrial Realty Trust from $53.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, September 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of First Industrial Realty Trust in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.33.

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.