The Manufacturers Life Insurance Company Acquires Shares of 823,768 First Industrial Realty Trust, Inc. $FR

The Manufacturers Life Insurance Company bought a new stake in First Industrial Realty Trust, Inc. (NYSE:FR) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 823,768 shares of the real estate investment trust’s stock, valued at approximately $50,505,000.

Several other large investors have also made changes to their positions in the company. Measured Wealth Private Client Group LLC acquired a new stake in shares of First Industrial Realty Trust during the 3rd quarter worth about $26,000. Parallel Advisors LLC boosted its position 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 valued at $36,000 after buying an additional 291 shares in the last quarter. Trust Co. of Vermont acquired a new position in First Industrial Realty Trust in the second quarter valued at about $39,000. Caitong International Asset Management Co. Ltd raised its stake in shares of 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 valued at $44,000 after acquiring an additional 301 shares during the last quarter. Finally, Danske Bank A S bought a new position in shares of First Industrial Realty Trust in the third quarter valued at approximately $51,000. Institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

FR has been the topic of a number of research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of First Industrial Realty Trust in a research report on Friday, July 24th. Robert W. Baird lifted their price objective on First Industrial Realty Trust from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Scotiabank boosted their price objective on First Industrial Realty Trust from $63.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 12th. Raymond James Financial restated a “strong-buy” rating on shares of First Industrial Realty Trust in a report on Thursday, June 18th. Finally, KeyCorp restated a “sector weight” rating on shares of First Industrial Realty Trust in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $67.07.

First Industrial Realty Trust Stock Performance

Shares of FR opened at $62.94 on Thursday. The firm has a fifty day simple moving average of $64.29 and a 200 day simple moving average of $62.22. First Industrial Realty Trust, Inc. has a 12 month low of $50.24 and a 12 month high of $69.88. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 22.97 and a beta of 1.04.

First Industrial Realty Trust (NYSE:FR) last released its 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 return on equity of 12.99% and a net margin of 47.97%.The company had revenue of $194.94 million for the quarter, compared to the consensus estimate of $195.81 million. During the same quarter in the previous year, the company posted $0.76 EPS. The business’s revenue was up 8.2% on a year-over-year basis. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. Research analysts forecast that First Industrial Realty Trust, Inc. will post 3.17 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

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

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.