Rhumbline Advisers Sells 13,257 Shares of First Industrial Realty Trust, Inc. $FR

Rhumbline Advisers trimmed its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 3.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 420,732 shares of the real estate investment trust’s stock after selling 13,257 shares during the period. Rhumbline Advisers owned about 0.32% of First Industrial Realty Trust worth $21,655,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Goldman Sachs Group Inc. grew its holdings in shares of First Industrial Realty Trust by 41.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 839,536 shares of the real estate investment trust’s stock worth $45,301,000 after acquiring an additional 244,562 shares during the period. IFP Advisors Inc lifted its position in First Industrial Realty Trust by 272.5% during the second quarter. IFP Advisors Inc now owns 1,330 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 973 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of First Industrial Realty Trust by 3.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 21,771 shares of the real estate investment trust’s stock valued at $1,053,000 after buying an additional 757 shares in the last quarter. New York State Teachers Retirement System grew its position in shares of First Industrial Realty Trust by 3.8% in the 2nd quarter. New York State Teachers Retirement System now owns 49,981 shares of the real estate investment trust’s stock worth $2,406,000 after buying an additional 1,807 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of First Industrial Realty Trust in the 2nd quarter worth about $16,239,000. 99.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FR shares. The Goldman Sachs Group increased their price target on shares of First Industrial Realty Trust from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Scotiabank boosted their price objective on First Industrial Realty Trust from $57.00 to $62.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Truist Financial upped their target price on shares of First Industrial Realty Trust from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Robert W. Baird set a $64.00 price objective on First Industrial Realty Trust in a report on Thursday, January 8th. Finally, Mizuho upped their price objective on First Industrial Realty Trust from $56.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.07.

Insider Transactions at First Industrial Realty Trust

In other First Industrial Realty Trust news, CIO Johannson L. Yap sold 680 shares of First Industrial Realty Trust stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $58.37, for a total transaction of $39,691.60. Following the completion of the sale, the executive directly owned 3,770 shares in the company, valued at approximately $220,054.90. The trade was a 15.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.94% of the company’s stock.

First Industrial Realty Trust Stock Up 1.4%

Shares of FR stock opened at $58.85 on Tuesday. The stock’s fifty day moving average price is $58.41 and its 200 day moving average price is $54.95. First Industrial Realty Trust, Inc. has a 1-year low of $40.31 and a 1-year high of $60.79. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 31.64 and a beta of 1.14. 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 (NYSE:FR) last issued its quarterly earnings results on Wednesday, February 4th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.17). The business had revenue of $188.41 million for the quarter, compared to analysts’ expectations of $186.20 million. First Industrial Realty Trust had a return on equity of 9.02% and a net margin of 34.03%.First Industrial Realty Trust’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 EPS. First Industrial Realty Trust has set its FY 2026 guidance at 3.090-3.190 EPS. On average, research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 20th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 3.4%. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.45. First Industrial Realty Trust’s payout ratio is 95.70%.

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.