Bank of Montreal Can Has $8.27 Million Stake in First Industrial Realty Trust, Inc. $FR

Bank of Montreal Can boosted its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 183.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,753 shares of the real estate investment trust’s stock after purchasing an additional 111,130 shares during the period. Bank of Montreal Can owned 0.13% of First Industrial Realty Trust worth $8,266,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of First Industrial Realty Trust by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,349,577 shares of the real estate investment trust’s stock valued at $1,044,103,000 after buying an additional 158,692 shares during the period. Invesco Ltd. boosted its position in First Industrial Realty Trust by 2.0% during the 1st quarter. Invesco Ltd. now owns 4,364,135 shares of the real estate investment trust’s stock worth $235,489,000 after buying an additional 87,229 shares during the period. Millennium Management LLC boosted its position in First Industrial Realty Trust by 159.5% during the 1st quarter. Millennium Management LLC now owns 2,260,701 shares of the real estate investment trust’s stock worth $121,987,000 after buying an additional 1,389,418 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in First Industrial Realty Trust by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,212,857 shares of the real estate investment trust’s stock worth $119,406,000 after acquiring an additional 6,977 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its holdings in First Industrial Realty Trust by 381.2% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,070,197 shares of the real estate investment trust’s stock worth $111,708,000 after acquiring an additional 1,639,952 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FR has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of First Industrial Realty Trust from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Barclays set a $54.00 target price on First Industrial Realty Trust in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Industrial Realty Trust in a report on Friday, October 31st. Royal Bank Of Canada upped their price target on First Industrial Realty Trust from $60.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Finally, Scotiabank raised their price objective on First Industrial Realty Trust from $51.00 to $54.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, First Industrial Realty Trust has an average rating of “Hold” and an average target price of $56.75.

First Industrial Realty Trust Stock Performance

FR stock opened at $56.29 on Monday. The stock has a 50-day moving average price of $53.07 and a 200-day moving average price of $50.66. First Industrial Realty Trust, Inc. has a 1-year low of $40.31 and a 1-year high of $58.17. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.88. The firm has a market cap of $7.45 billion, a PE ratio of 31.45 and a beta of 1.09.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. The company had revenue of $181.43 million for the quarter, compared to analyst estimates of $182.63 million. First Industrial Realty Trust had a return on equity of 8.65% and a net margin of 33.18%.The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. As a group, equities research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 20th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.78 annualized dividend and a dividend yield of 3.2%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 99.44%.

First Industrial Realty Trust Company Profile

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.