First Industrial Realty Trust, Inc. $FR Position Trimmed by Rush Island Management LP

Rush Island Management LP decreased its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 15.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,754,344 shares of the real estate investment trust’s stock after selling 325,198 shares during the period. First Industrial Realty Trust comprises 6.8% of Rush Island Management LP’s portfolio, making the stock its 8th largest holding. Rush Island Management LP owned about 1.32% of First Industrial Realty Trust worth $101,489,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its position in First Industrial Realty Trust by 856,065.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock valued at $560,443,000 after purchasing an additional 9,784,830 shares in the last quarter. Norges Bank acquired a new position in First Industrial Realty Trust in the 4th quarter valued at approximately $320,075,000. Cohen & Steers Inc. purchased a new stake in First Industrial Realty Trust in the 4th quarter worth approximately $118,365,000. AQR Capital Management LLC lifted its position in First Industrial Realty Trust by 491.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust’s stock worth $89,291,000 after buying an additional 1,541,778 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of First Industrial Realty Trust by 436.2% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 856,308 shares of the real estate investment trust’s stock valued at $44,074,000 after buying an additional 696,596 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

Shares of FR opened at $66.22 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market cap of $8.78 billion, a PE ratio of 24.17 and a beta of 1.05. The firm’s 50 day moving average price is $63.65 and its 200 day moving average price is $61.45. First Industrial Realty Trust, Inc. has a twelve month low of $47.38 and a twelve month high of $69.88.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.58 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.22). First Industrial Realty Trust had a return on equity of 12.99% and a net margin of 47.97%.The business had revenue of $194.94 million during the quarter, compared to the consensus estimate of $195.81 million. During the same period in the prior year, the firm earned $0.76 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. As a group, research analysts expect that First Industrial Realty Trust, Inc. will post 3.16 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Tuesday, June 30th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 30th. First Industrial Realty Trust’s payout ratio is presently 72.99%.

Analysts Set New Price Targets

FR has been the topic of several research analyst reports. KeyCorp restated a “sector weight” rating on shares of First Industrial Realty Trust in a report on Wednesday, June 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of First Industrial Realty Trust in a report on Friday. Cantor Fitzgerald reissued a “neutral” rating and set a $71.00 price objective on shares of First Industrial Realty Trust in a research report on Monday. Raymond James Financial reissued a “strong-buy” rating on shares of First Industrial Realty Trust in a research report on Thursday, June 18th. Finally, Citigroup boosted their target price on First Industrial Realty Trust from $63.00 to $72.00 and gave the company a “neutral” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, First Industrial Realty Trust currently has an average rating of “Moderate Buy” and an average target price of $65.79.

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.