Pallas Capital Advisors LLC Makes New $1.10 Million Investment in First Industrial Realty Trust, Inc. $FR

Pallas Capital Advisors LLC acquired a new position in First Industrial Realty Trust, Inc. (NYSE:FR) during the second quarter, HoldingsChannel reports. The firm acquired 17,952 shares of the real estate investment trust’s stock, valued at approximately $1,101,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio lifted its position in First Industrial Realty Trust by 26.3% during the first quarter. Public Employees Retirement System of Ohio now owns 290,663 shares of the real estate investment trust’s stock valued at $16,815,000 after buying an additional 60,459 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of First Industrial Realty Trust in the fourth quarter worth $1,134,000. Bank of America Corp DE increased its position in shares of First Industrial Realty Trust by 15.9% in the first quarter. Bank of America Corp DE now owns 778,077 shares of the real estate investment trust’s stock worth $45,012,000 after acquiring an additional 106,928 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of First Industrial Realty Trust by 7.5% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 209,488 shares of the real estate investment trust’s stock valued at $11,997,000 after acquiring an additional 14,693 shares during the period. Finally, Convergence Investment Partners LLC purchased a new position in shares of First Industrial Realty Trust in the 1st quarter valued at $1,367,000. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FR shares. Weiss Ratings restated a “buy (b)” rating on shares of First Industrial Realty Trust in a report on Friday, July 24th. KeyCorp reissued a “sector weight” rating on shares of First Industrial Realty Trust in a research report on Wednesday, June 10th. Cantor Fitzgerald restated a “neutral” rating and set a $71.00 price objective on shares of First Industrial Realty Trust in a research note on Monday, July 27th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of First Industrial Realty Trust in a research report on Thursday, June 18th. Finally, Truist Financial increased their target price on First Industrial Realty Trust from $67.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.07.

First Industrial Realty Trust Trading Down 0.7%

NYSE FR opened at $62.47 on Wednesday. The stock has a market cap of $8.28 billion, a P/E ratio of 22.80 and a beta of 1.04. The company’s fifty day simple moving average is $64.23 and its 200-day simple moving average is $62.02. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.89. First Industrial Realty Trust, Inc. has a 52 week low of $48.74 and a 52 week high of $69.88.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.22). The firm had revenue of $194.94 million for the quarter, compared to analyst estimates of $195.81 million. First Industrial Realty Trust had a net margin of 47.97% and a return on equity of 12.99%. First Industrial Realty Trust’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.76 earnings per share. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. Equities research analysts predict that First Industrial Realty Trust, Inc. will post 3.16 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 19th. Shareholders of record on Wednesday, September 30th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 30th. First Industrial Realty Trust’s dividend payout ratio is presently 72.99%.

First Industrial Realty Trust 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.