Alberta Investment Management Corp Invests $24.11 Million in First Industrial Realty Trust, Inc. $FR

Alberta Investment Management Corp bought a new position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 393,302 shares of the real estate investment trust's stock, valued at approximately $24,113,000. Alberta Investment Management Corp owned about 0.30% of First Industrial Realty Trust as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of FR. Northwestern Mutual Wealth Management Co. raised its holdings in shares of First Industrial Realty Trust by 856,065.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust's stock valued at $560,443,000 after acquiring an additional 9,784,830 shares during the period. Norges Bank purchased a new stake in shares of First Industrial Realty Trust in the fourth quarter valued at $320,075,000. Cohen & Steers Inc. purchased a new stake in shares of First Industrial Realty Trust in the fourth quarter valued at $118,365,000. Rush Island Management LP acquired a new stake in shares of First Industrial Realty Trust in the second quarter worth $79,904,000. Finally, AQR Capital Management LLC boosted its position in shares of First Industrial Realty Trust by 491.9% in the second quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust's stock worth $89,291,000 after buying an additional 1,541,778 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Trading Up 0.0%

Shares of FR stock opened at $62.88 on Monday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.89. First Industrial Realty Trust, Inc. has a 1 year low of $48.38 and a 1 year high of $69.88. The firm's fifty day simple moving average is $64.20 and its 200 day simple moving average is $61.94. The firm has a market capitalization of $8.34 billion, a P/E ratio of 22.95 and a beta of 1.04.

First Industrial Realty Trust (NYSE:FR - Get Free Report) 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 return on equity of 12.99% and a net margin of 47.97%.The company had revenue of $194.94 million during the quarter, compared to analyst estimates of $195.81 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. The business'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, sell-side analysts predict that First Industrial Realty Trust, Inc. will post 3.16 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 19th. Investors 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 dividend on an annualized basis and a yield of 3.2%. First Industrial Realty Trust's dividend payout ratio (DPR) is 72.99%.

Wall Street Analyst Weigh In

FR has been the subject of several research analyst reports. Wells Fargo & Company reduced their price objective on 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. Robert W. Baird lifted their target price on First Industrial Realty Trust from $71.00 to $74.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. KeyCorp reiterated a "sector weight" rating on shares of First Industrial Realty Trust in a report on Wednesday, June 10th. Truist Financial increased their price target on shares of 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. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of First Industrial Realty Trust in a research note on Thursday, June 18th. One equities 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 company. Based on data from MarketBeat.com, First Industrial Realty Trust presently has an average rating of "Moderate Buy" and a consensus price target of $67.07.

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.

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