First Industrial Realty Trust, Inc. $FR Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,747 shares of the real estate investment trust’s stock after selling 11,304 shares during the quarter. Los Angeles Capital Management LLC owned 0.08% of First Industrial Realty Trust worth $4,993,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FR. True Wealth Design LLC lifted its holdings in shares of First Industrial Realty Trust by 988.7% during the second quarter. True Wealth Design LLC now owns 1,252 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 1,137 shares during the last quarter. IFP Advisors Inc raised its holdings in First Industrial Realty Trust by 272.5% during the 2nd 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 purchased a new stake in First Industrial Realty Trust during the first quarter valued at about $69,000. Fifth Third Bancorp boosted its holdings in shares of First Industrial Realty Trust by 15.9% in the second quarter. Fifth Third Bancorp now owns 1,503 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 206 shares during the period. Finally, Hantz Financial Services Inc. increased its position in shares of First Industrial Realty Trust by 4,697.1% in the second 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 in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on FR shares. Scotiabank upped their price target on shares of First Industrial Realty Trust from $51.00 to $54.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Cantor Fitzgerald began coverage on First Industrial Realty Trust in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $55.00 target price for the company. Barclays set a $54.00 price target on First Industrial Realty Trust in a report on Monday, November 3rd. Royal Bank Of Canada increased their price objective on First Industrial Realty Trust from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Finally, The Goldman Sachs Group lifted their target price on First Industrial Realty Trust from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.75.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR opened at $56.29 on Monday. The business has a fifty day simple moving average of $53.07 and a 200 day simple moving average of $50.66. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.88. First Industrial Realty Trust, Inc. has a 1 year low of $40.31 and a 1 year high of $58.17. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of 31.45 and a beta of 1.09.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.02. The company had revenue of $181.43 million for the quarter, compared to analyst estimates of $182.63 million. First Industrial Realty Trust had a return on equity of 8.65% and a net margin of 33.18%.The business’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. As a group, sell-side 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 announced 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 payout ratio is 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.