Greenwood Capital Associates LLC Decreases Stake in First Industrial Realty Trust, Inc. $FR

Greenwood Capital Associates LLC reduced its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 22.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,890 shares of the real estate investment trust’s stock after selling 2,256 shares during the period. Greenwood Capital Associates LLC’s holdings in First Industrial Realty Trust were worth $380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. PGGM Investments purchased a new position in shares of First Industrial Realty Trust in the second quarter worth about $77,038,000. Public Employees Retirement System of Ohio raised its stake in First Industrial Realty Trust by 1.1% during the second quarter. Public Employees Retirement System of Ohio now owns 239,372 shares of the real estate investment trust’s stock worth $11,521,000 after purchasing an additional 2,641 shares during the period. Fifth Third Bancorp raised its stake in First Industrial Realty Trust by 15.9% during the second quarter. Fifth Third Bancorp now owns 1,503 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 206 shares during the period. Park Avenue Securities LLC raised its stake in First Industrial Realty Trust by 4.1% during the second quarter. Park Avenue Securities LLC now owns 10,825 shares of the real estate investment trust’s stock worth $521,000 after purchasing an additional 428 shares during the period. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new position in First Industrial Realty Trust during the second quarter worth about $262,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Trading Up 0.3%

Shares of FR stock opened at $51.68 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $6.84 billion, a P/E ratio of 25.21 and a beta of 1.07. The company has a 50 day moving average price of $50.67 and a 200 day moving average price of $49.77. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $58.17.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 EPS for the quarter, topping the consensus estimate of $0.72 by $0.04. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. The company had revenue of $180.16 million during the quarter, compared to analysts’ expectations of $176.46 million. During the same quarter in the previous year, the business posted $0.66 EPS. The firm’s revenue was up 9.8% on a year-over-year basis. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. Equities research analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, September 30th. First Industrial Realty Trust’s payout ratio is 86.83%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FR. Cantor Fitzgerald began coverage on shares of First Industrial Realty Trust in a research note on Wednesday. They set a “neutral” rating and a $55.00 target price on the stock. Wall Street Zen raised shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Mizuho boosted their price target on shares of First Industrial Realty Trust from $53.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, September 8th. Industrial Alliance Securities set a $55.00 price objective on shares of First Industrial Realty Trust in a report on Wednesday. Finally, Scotiabank lifted their price objective on shares of First Industrial Realty Trust from $51.00 to $54.00 and gave the company a “sector perform” rating in a report on Wednesday, August 27th. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $55.00.

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.