New York State Teachers Retirement System Acquires 1,807 Shares of First Industrial Realty Trust, Inc. $FR

New York State Teachers Retirement System grew its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,981 shares of the real estate investment trust’s stock after acquiring an additional 1,807 shares during the period. New York State Teachers Retirement System’s holdings in First Industrial Realty Trust were worth $2,406,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. lifted its stake in shares of First Industrial Realty Trust by 93.0% in the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 225 shares during the last quarter. Alpine Bank Wealth Management bought a new position in First Industrial Realty Trust during the first quarter valued at about $26,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of First Industrial Realty Trust in the first quarter worth about $69,000. IFP Advisors Inc boosted its stake in shares of First Industrial Realty Trust by 272.5% during the 2nd quarter. IFP Advisors Inc now owns 1,330 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 973 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of First Industrial Realty Trust by 15.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,503 shares of the real estate investment trust’s stock worth $72,000 after acquiring an additional 206 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FR shares. Weiss Ratings restated a “hold (c)” rating on shares of First Industrial Realty Trust in a report on Wednesday, October 8th. Cantor Fitzgerald began coverage on shares of First Industrial Realty Trust in a report on Wednesday, October 1st. They set a “neutral” rating and a $55.00 price objective for the company. Scotiabank raised their target price on shares of First Industrial Realty Trust from $51.00 to $54.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 27th. The Goldman Sachs Group boosted their target price on shares of First Industrial Realty Trust from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Industrial Alliance Securities set a $55.00 price target on First Industrial Realty Trust in a research report on Wednesday, October 1st. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $55.67.

First Industrial Realty Trust Price Performance

Shares of FR stock opened at $55.54 on Wednesday. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $58.17. The company has a market capitalization of $7.35 billion, a P/E ratio of 31.03 and a beta of 1.07. The stock has a 50 day moving average of $51.72 and a two-hundred day moving average of $49.70. The company has a current ratio of 0.91, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88.

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

First Industrial Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, September 30th. First Industrial Realty Trust’s payout ratio is 99.44%.

First Industrial Realty Trust 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.