Engineers Gate Manager LP Sells 543,578 Shares of First Industrial Realty Trust, Inc. $FR

Engineers Gate Manager LP cut its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 59.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 374,675 shares of the real estate investment trust’s stock after selling 543,578 shares during the period. Engineers Gate Manager LP’s holdings in First Industrial Realty Trust were worth $22,971,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in FR. BlackRock Inc. acquired a new stake in shares of First Industrial Realty Trust during the 2nd quarter worth $1,021,489,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of First Industrial Realty Trust by 856,065.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock worth $560,443,000 after acquiring an additional 9,784,830 shares during the period. California State Teachers Retirement System boosted its position in shares of First Industrial Realty Trust by 5,999.7% during the 2nd quarter. California State Teachers Retirement System now owns 9,450,139 shares of the real estate investment trust’s stock worth $579,388,000 after acquiring an additional 9,295,212 shares in the last quarter. Norges Bank acquired a new stake in shares of First Industrial Realty Trust during the 4th quarter worth approximately $320,075,000. Finally, Invesco Ltd. increased its stake in 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 valued at $223,571,000 after acquiring an additional 323,248 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Scotiabank upped their price objective on First Industrial Realty Trust from $63.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 12th. Royal Bank Of Canada upped their price objective on shares of First Industrial Realty Trust from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. KeyCorp reissued a “sector weight” rating on shares of First Industrial Realty Trust in a research note on Wednesday, June 10th. Truist Financial boosted their price target on First Industrial Realty Trust from $67.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, Robert W. Baird raised their price target on shares of First Industrial Realty Trust from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.43.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $60.94 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. First Industrial Realty Trust, Inc. has a twelve month low of $50.24 and a twelve month high of $69.88. The company has a fifty day moving average of $64.12 and a 200-day moving average of $62.37. The firm has a market capitalization of $8.08 billion, a P/E ratio of 22.24 and a beta of 1.03.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.22). The company had revenue of $194.94 million for the quarter, compared to the consensus estimate of $195.81 million. First Industrial Realty Trust had a return on equity of 12.99% and a net margin of 47.97%.The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 earnings per share. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. As a group, sell-side analysts anticipate that First Industrial Realty Trust, Inc. will post 3.17 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 19th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, September 30th. First Industrial Realty Trust’s dividend payout ratio is 72.99%.

First Industrial Realty Trust Company Profile

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.