The Manufacturers Life Insurance Company Purchases 19,166 Shares of First Industrial Realty Trust, Inc. $FR

The Manufacturers Life Insurance Company grew its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 817,019 shares of the real estate investment trust’s stock after acquiring an additional 19,166 shares during the period. The Manufacturers Life Insurance Company owned 0.62% of First Industrial Realty Trust worth $47,265,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC bought a new stake in shares of First Industrial Realty Trust during the 3rd quarter valued at about $26,000. Parallel Advisors LLC increased its holdings in First Industrial Realty Trust by 86.9% in the fourth quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 291 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in First Industrial Realty Trust by 64.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 301 shares in the last quarter. Danske Bank A S acquired a new position in First Industrial Realty Trust in the third quarter valued at approximately $51,000. Finally, Parkside Financial Bank & Trust lifted its stake in First Industrial Realty Trust by 27.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,231 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 262 shares during the period. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR opened at $65.90 on Friday. First Industrial Realty Trust, Inc. has a twelve month low of $47.38 and a twelve month high of $69.88. The stock’s 50 day moving average is $63.78 and its 200-day moving average is $61.54. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 24.05 and a beta of 1.05.

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). First Industrial Realty Trust had a net margin of 47.97% and a return on equity of 12.99%. The business had revenue of $194.94 million during the quarter, compared to analyst estimates of $195.81 million. During the same period in the previous year, the business posted $0.76 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. Sell-side analysts forecast that First Industrial Realty Trust, Inc. will post 3.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Industrial Realty Trust in a research report on Friday, July 24th. Truist Financial boosted their target price on shares of First Industrial Realty Trust from $67.00 to $73.00 and gave the company a “buy” rating in a research report on Monday. Barclays increased their target price on shares of First Industrial Realty Trust from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Citigroup raised their price target on shares of First Industrial Realty Trust from $63.00 to $72.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Wells Fargo & Company decreased their price target on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, First Industrial Realty Trust presently has a consensus rating of “Moderate Buy” and an average target price of $66.21.

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.