The Manufacturers Life Insurance Company Raises Position in First Industrial Realty Trust, Inc. $FR

The Manufacturers Life Insurance Company increased its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 817,019 shares of the real estate investment trust’s stock after buying an additional 19,166 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in First Industrial Realty Trust were worth $47,265,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of FR. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 acquiring an additional 9,784,830 shares during the last quarter. Norges Bank bought a new stake in shares of First Industrial Realty Trust in the 4th quarter worth $320,075,000. Invesco Ltd. raised its holdings in shares of First Industrial Realty Trust by 8.0% in the third quarter. Invesco Ltd. now owns 4,343,723 shares of the real estate investment trust’s stock valued at $223,571,000 after purchasing an additional 323,248 shares during the last quarter. Centersquare Investment Management LLC raised its holdings in shares of First Industrial Realty Trust by 10.5% in the fourth quarter. Centersquare Investment Management LLC now owns 2,649,757 shares of the real estate investment trust’s stock valued at $151,752,000 after purchasing an additional 252,650 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of First Industrial Realty Trust by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 2,629,908 shares of the real estate investment trust’s stock valued at $150,644,000 after purchasing an additional 41,042 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

FR opened at $65.90 on Friday. The firm has a market cap of $8.74 billion, a P/E ratio of 24.05 and a beta of 1.05. The firm has a 50-day moving average of $63.78 and a 200 day moving average of $61.54. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.44 and a current ratio of 1.44. First Industrial Realty Trust, Inc. has a fifty-two week low of $47.38 and a fifty-two week high of $69.88.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.58 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.22). The company had revenue of $194.94 million during the quarter, compared to the consensus estimate 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 was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.76 EPS. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. On average, research analysts expect that First Industrial Realty Trust, Inc. will post 3.16 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FR. Barclays boosted their price target on shares of First Industrial Realty Trust from $64.00 to $69.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Citigroup lifted their target price on shares of First Industrial Realty Trust from $63.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday. Robert W. Baird boosted their target price on First Industrial Realty Trust from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wells Fargo & Company reduced their target price on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. Finally, Wall Street Zen raised First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. One investment 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 company presently has an average rating of “Moderate Buy” and an average target price of $66.21.

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.