DigitalBridge Group Inc. Acquires Shares of 22,300 First Industrial Realty Trust, Inc. $FR

DigitalBridge Group Inc. bought a new position in First Industrial Realty Trust, Inc. (NYSE:FR) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 22,300 shares of the real estate investment trust’s stock, valued at approximately $1,148,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of First Industrial Realty Trust during the 2nd quarter valued at approximately $272,085,000. Rush Island Management LP bought a new stake in First Industrial Realty Trust during the 2nd quarter valued at $79,904,000. AQR Capital Management LLC lifted its position in shares of First Industrial Realty Trust by 491.9% during the second quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust’s stock worth $89,291,000 after acquiring an additional 1,541,778 shares in the last quarter. Duff & Phelps Investment Management Co. bought a new position in shares of First Industrial Realty Trust in the third quarter worth $74,584,000. Finally, Citadel Advisors LLC boosted its holdings in shares of First Industrial Realty Trust by 70.8% in the third quarter. Citadel Advisors LLC now owns 2,498,172 shares of the real estate investment trust’s stock worth $128,581,000 after acquiring an additional 1,035,385 shares during the period. Institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

FR has been the topic of a number of analyst reports. UBS Group set a $62.00 price objective on First Industrial Realty Trust in a research note on Thursday, December 4th. Weiss Ratings upgraded First Industrial Realty Trust from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th. Truist Financial increased their price target on shares of First Industrial Realty Trust from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Royal Bank Of Canada raised their price objective on shares of First Industrial Realty Trust from $64.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. Finally, Robert W. Baird set a $65.00 price objective on shares of First Industrial Realty Trust in a research note on Tuesday, February 17th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.29.

First Industrial Realty Trust Price Performance

NYSE:FR opened at $60.84 on Wednesday. First Industrial Realty Trust, Inc. has a 52-week low of $40.31 and a 52-week high of $64.01. The stock has a fifty day moving average of $59.84 and a 200 day moving average of $56.70. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 32.71 and a beta of 1.11.

First Industrial Realty Trust (NYSE:FR) last announced its 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 during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 earnings per share. 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 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The business also recently announced 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 is Tuesday, March 31st. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 3.3%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 95.70%.

About First Industrial Realty Trust

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.