First Industrial Realty Trust (NYSE:FR) Announces Quarterly Earnings Results, Beats Expectations By $0.79 EPS

First Industrial Realty Trust (NYSE:FR) issued its quarterly earnings data on Wednesday. The real estate investment trust reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.79, FiscalAI reports. First Industrial Realty Trust had a return on equity of 9.02% and a net margin of 34.03%.The business had revenue of $194.83 million for the quarter, compared to analysts’ expectations of $190.80 million. First Industrial Realty Trust updated its FY 2026 guidance to 3.090-3.190 EPS.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR traded up $0.05 during mid-day trading on Wednesday, reaching $63.26. 1,253,415 shares of the company’s stock were exchanged, compared to its average volume of 1,047,437. First Industrial Realty Trust has a 52 week low of $46.51 and a 52 week high of $64.66. The firm has a 50-day moving average price of $60.36 and a two-hundred day moving average price of $58.09. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 34.01 and a beta of 1.11. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.12 and a quick ratio of 1.12.

First Industrial Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 20th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, March 31st. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.45. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 107.53%.

Hedge Funds Weigh In On First Industrial Realty Trust

Several large investors have recently modified their holdings of the business. Invesco Ltd. increased its stake in shares of First Industrial Realty Trust by 8.0% in the third quarter. Invesco Ltd. now owns 4,343,723 shares of the real estate investment trust’s stock worth $223,571,000 after purchasing an additional 323,248 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of First Industrial Realty Trust by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,481,082 shares of the real estate investment trust’s stock valued at $142,092,000 after buying an additional 72,608 shares in the last quarter. Rush Island Management LP lifted its stake in shares of First Industrial Realty Trust by 1.3% during the 4th quarter. Rush Island Management LP now owns 2,079,542 shares of the real estate investment trust’s stock valued at $119,095,000 after buying an additional 25,713 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of First Industrial Realty Trust by 3.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,985,450 shares of the real estate investment trust’s stock valued at $102,191,000 after buying an additional 60,605 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of First Industrial Realty Trust by 491.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust’s stock valued at $89,291,000 after buying an additional 1,541,778 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. iA Financial set a $67.00 price objective on First Industrial Realty Trust in a research note on Monday, January 5th. Truist Financial raised their price objective on 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. Weiss Ratings upgraded First Industrial Realty Trust from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Deutsche Bank Aktiengesellschaft upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Monday, January 5th. Finally, Scotiabank raised their price objective on First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $63.29.

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.