The Manufacturers Life Insurance Company Makes New $50.51 Million Investment in First Industrial Realty Trust, Inc. $FR

The Manufacturers Life Insurance Company purchased a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 823,768 shares of the real estate investment trust’s stock, valued at approximately $50,505,000. The Manufacturers Life Insurance Company owned about 0.62% of First Industrial Realty Trust as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FR. BlackRock Inc. acquired a new position in First Industrial Realty Trust during the 2nd quarter valued at $1,021,489,000. Northwestern Mutual Wealth Management Co. grew its position in First Industrial Realty Trust by 856,065.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock worth $560,443,000 after purchasing an additional 9,784,830 shares during the last quarter. Norges Bank acquired a new stake in First Industrial Realty Trust in the 4th quarter worth $320,075,000. Invesco Ltd. increased its holdings in shares of First Industrial Realty Trust by 8.0% during the 3rd quarter. Invesco Ltd. now owns 4,343,723 shares of the real estate investment trust’s stock worth $223,571,000 after purchasing an additional 323,248 shares during the period. Finally, Centersquare Investment Management LLC increased its holdings in shares of First Industrial Realty Trust by 10.5% during the 4th quarter. Centersquare Investment Management LLC now owns 2,649,757 shares of the real estate investment trust’s stock worth $151,752,000 after purchasing an additional 252,650 shares during the period. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock opened at $62.94 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.44 and a current ratio of 1.44. The firm’s 50-day simple moving average is $64.29 and its 200-day simple moving average is $62.22. First Industrial Realty Trust, Inc. has a twelve month low of $50.24 and a twelve month high of $69.88. The firm has a market cap of $8.34 billion, a P/E ratio of 22.97 and a beta of 1.04.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.22). The business had revenue of $194.94 million during the quarter, compared to analyst estimates of $195.81 million. First Industrial Realty Trust had a return on equity of 12.99% and a net margin of 47.97%.The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the company earned $0.76 EPS. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. As a group, research analysts expect that First Industrial Realty Trust, Inc. will post 3.17 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

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

Analyst Upgrades and Downgrades

FR has been the subject of several research reports. Raymond James Financial reiterated a “strong-buy” rating on shares of First Industrial Realty Trust in a research note on Thursday, June 18th. Robert W. Baird upped their price target on First Industrial Realty Trust from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Truist Financial raised their price objective on First Industrial Realty Trust from $67.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. KeyCorp reissued a “sector weight” rating on shares of First Industrial Realty Trust in a report on Wednesday, June 10th. Finally, Royal Bank Of Canada lifted their price objective on First Industrial Realty Trust from $68.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $67.07.

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.