Victory Capital Management Inc. Grows Stock Position in First Industrial Realty Trust, Inc. $FR

Victory Capital Management Inc. raised its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 950,971 shares of the real estate investment trust’s stock after buying an additional 9,522 shares during the quarter. Victory Capital Management Inc.’s holdings in First Industrial Realty Trust were worth $48,946,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. AlphaQuest LLC raised its stake in First Industrial Realty Trust by 0.5% in the 3rd quarter. AlphaQuest LLC now owns 41,416 shares of the real estate investment trust’s stock valued at $2,132,000 after acquiring an additional 193 shares during the period. Global Retirement Partners LLC boosted its position in First Industrial Realty Trust by 3.6% during the third quarter. Global Retirement Partners LLC now owns 5,670 shares of the real estate investment trust’s stock worth $292,000 after purchasing an additional 195 shares during the period. Assetmark Inc. increased its stake in shares of First Industrial Realty Trust by 7.1% in the third quarter. Assetmark Inc. now owns 2,994 shares of the real estate investment trust’s stock worth $154,000 after purchasing an additional 198 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of First Industrial Realty Trust by 4.0% in the second quarter. ProShare Advisors LLC now owns 5,870 shares of the real estate investment trust’s stock worth $283,000 after purchasing an additional 228 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of First Industrial Realty Trust by 0.9% in the second quarter. Corient Private Wealth LLC now owns 26,595 shares of the real estate investment trust’s stock valued at $1,280,000 after purchasing an additional 229 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

FR has been the topic of a number of recent research reports. Truist Financial upped their price target on shares of First Industrial Realty Trust from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Cantor Fitzgerald boosted their target price on shares of First Industrial Realty Trust from $58.00 to $64.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Scotiabank increased their target price on First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. iA Financial set a $67.00 price target on First Industrial Realty Trust in a report on Monday, January 5th. Finally, Weiss Ratings upgraded First Industrial Realty Trust from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.29.

First Industrial Realty Trust Price Performance

FR stock opened at $59.84 on Friday. The firm has a 50 day moving average of $59.45 and a 200-day moving average of $56.21. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $64.01. The firm has a market capitalization of $7.93 billion, a P/E ratio of 32.17 and a beta of 1.11.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, February 4th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.17). First Industrial Realty Trust had a return on equity of 9.02% and a net margin of 34.03%.The firm had revenue of $188.41 million for the quarter, compared to the consensus estimate of $186.20 million. During the same period last year, the company posted $0.71 EPS. The business’s revenue was up 7.3% on a year-over-year basis. First Industrial Realty Trust has set its FY 2026 guidance at 3.090-3.190 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 20th. Stockholders of record on Tuesday, March 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. First Industrial Realty Trust’s payout ratio is currently 95.70%.

Insider Activity

In related news, CIO Johannson L. Yap sold 680 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $58.37, for a total value of $39,691.60. Following the sale, the executive owned 3,770 shares in the company, valued at approximately $220,054.90. This trade represents a 15.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.06% of the company’s stock.

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.