The Manufacturers Life Insurance Company Grows Holdings in First Industrial Realty Trust, Inc. $FR

Key Points

• The Manufacturers Life Insurance Company increased its stake in First Industrial Realty Trust by 11.3%, acquiring an additional 106,806 shares to hold a total of 1,055,991 shares, worth approximately $56.98 million.
• First Industrial Realty Trust reported $0.76 EPS for its most recent quarter, exceeding expectations and showing a 9.8% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.445 per share, with a 3.4% dividend yield, set to be paid on October 20th.

The Manufacturers Life Insurance Company grew its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 11.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,055,991 shares of the real estate investment trust's stock after buying an additional 106,806 shares during the period. The Manufacturers Life Insurance Company owned about 0.80% of First Industrial Realty Trust worth $56,981,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. HGI Capital Management LLC raised its holdings in shares of First Industrial Realty Trust by 237.9% during the first quarter. HGI Capital Management LLC now owns 123,928 shares of the real estate investment trust's stock valued at $6,687,000 after buying an additional 87,248 shares during the last quarter. Landscape Capital Management L.L.C. lifted its holdings in shares of First Industrial Realty Trust by 24.5% during the 1st quarter. Landscape Capital Management L.L.C. now owns 35,976 shares of the real estate investment trust's stock valued at $1,941,000 after buying an additional 7,089 shares during the last quarter. Ieq Capital LLC acquired a new stake in shares of First Industrial Realty Trust during the 1st quarter valued at about $717,000. Jane Street Group LLC increased its holdings in shares of First Industrial Realty Trust by 2,777.7% during the 1st quarter. Jane Street Group LLC now owns 322,595 shares of the real estate investment trust's stock valued at $17,407,000 after acquiring an additional 311,385 shares during the last quarter. Finally, Synovus Financial Corp lifted its position in shares of First Industrial Realty Trust by 14.5% during the 1st quarter. Synovus Financial Corp now owns 16,623 shares of the real estate investment trust's stock worth $897,000 after purchasing an additional 2,105 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FR shares. Scotiabank lifted their price target on shares of First Industrial Realty Trust from $51.00 to $54.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 27th. Wall Street Zen raised shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Wells Fargo & Company reduced their price objective on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $55.40.

First Industrial Realty Trust Price Performance

First Industrial Realty Trust stock traded up $0.10 during midday trading on Thursday, reaching $51.96. The company's stock had a trading volume of 1,153,709 shares, compared to its average volume of 1,241,983. The business has a 50-day moving average price of $49.59 and a 200-day moving average price of $50.44. First Industrial Realty Trust, Inc. has a 52 week low of $40.31 and a 52 week high of $58.17. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock has a market cap of $6.88 billion, a PE ratio of 25.31 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.04. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. The business had revenue of $180.16 million for the quarter, compared to analyst estimates of $176.46 million. During the same quarter in the previous year, the business earned $0.66 earnings per share. First Industrial Realty Trust's revenue for the quarter was up 9.8% on a year-over-year basis. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. On average, sell-side analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 30th. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 86.83%.

First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc NYSE: FR is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.