Lecap Asset Management Ltd. Purchases Shares of 13,386 First Industrial Realty Trust, Inc. $FR

Lecap Asset Management Ltd. acquired a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 13,386 shares of the real estate investment trust’s stock, valued at approximately $689,000.

Several other hedge funds have also modified their holdings of FR. Goldman Sachs Group Inc. increased its position in First Industrial Realty Trust by 41.1% during the first quarter. Goldman Sachs Group Inc. now owns 839,536 shares of the real estate investment trust’s stock worth $45,301,000 after purchasing an additional 244,562 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in shares of First Industrial Realty Trust by 23.0% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 9,488 shares of the real estate investment trust’s stock worth $516,000 after buying an additional 1,774 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of First Industrial Realty Trust in the 1st quarter worth $612,000. Great Lakes Advisors LLC boosted its holdings in First Industrial Realty Trust by 0.5% in the first quarter. Great Lakes Advisors LLC now owns 49,137 shares of the real estate investment trust’s stock valued at $2,651,000 after acquiring an additional 236 shares during the last quarter. Finally, United Services Automobile Association acquired a new position in First Industrial Realty Trust in the first quarter valued at $463,000. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at First Industrial Realty Trust

In related news, CIO Johannson L. Yap sold 680 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $58.37, for a total value of $39,691.60. Following the completion of the transaction, the executive owned 3,770 shares of the company’s stock, valued at approximately $220,054.90. This represents a 15.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.06% of the company’s stock.

Wall Street Analyst Weigh In

FR has been the topic of a number of research reports. The Goldman Sachs Group lifted their price objective on First Industrial Realty Trust from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Robert W. Baird set a $64.00 price objective on shares of First Industrial Realty Trust in a research note on Thursday. Mizuho increased their price objective on shares of First Industrial Realty Trust from $56.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Scotiabank raised their target price on shares of First Industrial Realty Trust from $54.00 to $57.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Industrial Realty Trust in a research report on Friday, October 31st. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.54.

First Industrial Realty Trust Trading Up 0.9%

NYSE FR opened at $58.87 on Friday. The company’s fifty day simple moving average is $57.11 and its 200-day simple moving average is $53.12. First Industrial Realty Trust, Inc. has a 52 week low of $40.31 and a 52 week high of $59.43. 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 stock has a market cap of $7.80 billion, a P/E ratio of 32.89 and a beta of 1.14.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. First Industrial Realty Trust had a net margin of 33.18% and a return on equity of 8.65%. The business had revenue of $181.43 million during the quarter, compared to analyst estimates of $182.63 million. During the same period last year, the business earned $0.69 EPS. The business’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. Equities research analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently announced 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. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, December 31st. First Industrial Realty Trust’s payout ratio is presently 99.44%.

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.