Caisse de depot et placement du Quebec Takes $14.74 Million Position in First Industrial Realty Trust, Inc. $FR

Caisse de depot et placement du Quebec bought a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 240,483 shares of the real estate investment trust’s stock, valued at approximately $14,744,000.

Several other large investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in First Industrial Realty Trust in the second quarter worth approximately $1,021,489,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of First Industrial Realty Trust by 856,065.6% during 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 buying an additional 9,784,830 shares in the last quarter. Norges Bank bought a new position in shares of First Industrial Realty Trust during the 4th quarter worth approximately $320,075,000. Cohen & Steers Inc. acquired a new stake in shares of First Industrial Realty Trust during the 4th quarter worth approximately $118,365,000. Finally, Rush Island Management LP acquired a new stake in shares of First Industrial Realty Trust during the 2nd quarter worth approximately $79,904,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FR. Scotiabank lifted their price objective on shares of First Industrial Realty Trust from $63.00 to $66.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 12th. Robert W. Baird raised their price target on shares of First Industrial Realty Trust from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Barclays lifted their price target on shares of First Industrial Realty Trust from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Wells Fargo & Company dropped their price objective on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. Finally, Royal Bank Of Canada increased their price objective on shares of First Industrial Realty Trust from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $67.07.

First Industrial Realty Trust Trading Down 0.7%

NYSE FR opened at $61.93 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. First Industrial Realty Trust, Inc. has a 52 week low of $50.24 and a 52 week high of $69.88. The business has a 50 day moving average price of $64.31 and a 200-day moving average price of $62.23. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 22.60 and a beta of 1.04.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $194.94 million during the quarter, compared to the consensus estimate of $195.81 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. First Industrial Realty Trust’s revenue for the quarter 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. As a group, equities analysts expect that First Industrial Realty Trust, Inc. will post 3.17 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

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

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.