Cbre Investment Management Listed Real Assets LLC Increases Holdings in First Industrial Realty Trust, Inc. $FR

Cbre Investment Management Listed Real Assets LLC raised its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 13.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,342,835 shares of the real estate investment trust’s stock after buying an additional 272,638 shares during the quarter. First Industrial Realty Trust makes up approximately 1.7% of Cbre Investment Management Listed Real Assets LLC’s investment portfolio, making the stock its 18th largest position. Cbre Investment Management Listed Real Assets LLC owned about 1.77% of First Industrial Realty Trust worth $112,761,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. PGGM Investments purchased a new stake in shares of First Industrial Realty Trust in the second quarter valued at about $77,038,000. Millennium Management LLC grew its position in First Industrial Realty Trust by 159.5% in 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 acquiring an additional 1,389,418 shares during the period. Nuveen LLC acquired a new stake in First Industrial Realty Trust during the first quarter worth $42,063,000. Presima Securities ULC purchased a new stake in First Industrial Realty Trust in the second quarter valued at $25,350,000. Finally, Woodline Partners LP raised its position in First Industrial Realty Trust by 182.0% in the first quarter. Woodline Partners LP now owns 795,709 shares of the real estate investment trust’s stock valued at $42,936,000 after purchasing an additional 513,505 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FR shares. Industrial Alliance Securities set a $55.00 price target on First Industrial Realty Trust in a report on Wednesday, October 1st. Wells Fargo & Company lifted their price target on shares of First Industrial Realty Trust from $53.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, October 27th. JPMorgan Chase & Co. boosted their price target on shares of First Industrial Realty Trust from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Scotiabank upped their price objective on shares of 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. Finally, Mizuho lifted their target price on shares of First Industrial Realty Trust from $53.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, September 8th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $56.75.

First Industrial Realty Trust Stock Down 0.4%

Shares of NYSE:FR opened at $55.09 on Friday. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $58.17. The firm’s 50 day moving average price is $53.00 and its 200 day moving average price is $50.53. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.88. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of 30.77 and a beta of 1.09.

First Industrial Realty Trust (NYSE:FR) last announced 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 for the quarter, compared to the consensus estimate of $182.63 million. During the same period in the prior year, the firm 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, equities research analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Wednesday, December 31st will be paid a $0.445 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.78 dividend on an annualized basis and a 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.