The Manufacturers Life Insurance Company Has $47.58 Million Stock Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

The Manufacturers Life Insurance Company raised its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 7.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 949,185 shares of the real estate investment trust's stock after acquiring an additional 68,103 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.72% of First Industrial Realty Trust worth $47,583,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Howard Capital Management Group LLC purchased a new position in First Industrial Realty Trust during the 3rd quarter worth $206,000. Barclays PLC grew its position in First Industrial Realty Trust by 34.6% in the 3rd quarter. Barclays PLC now owns 131,111 shares of the real estate investment trust's stock valued at $7,341,000 after buying an additional 33,702 shares during the last quarter. Tidal Investments LLC raised its position in First Industrial Realty Trust by 20.1% during the 3rd quarter. Tidal Investments LLC now owns 82,537 shares of the real estate investment trust's stock worth $4,620,000 after buying an additional 13,827 shares during the last quarter. Synovus Financial Corp boosted its holdings in shares of First Industrial Realty Trust by 96.3% in the third quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust's stock valued at $1,588,000 after acquiring an additional 13,922 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in First Industrial Realty Trust by 42.9% during the third quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust's stock worth $10,546,000 after purchasing an additional 58,088 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FR shares. The Goldman Sachs Group lowered their price target on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a "hold" rating and a $52.00 price target on the stock. Truist Financial reduced their price objective on First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating for the company in a report on Monday. Royal Bank of Canada lowered their target price on First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. cut their price target on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $56.50.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR traded down $0.19 during midday trading on Tuesday, hitting $48.68. The company's stock had a trading volume of 219,534 shares, compared to its average volume of 1,119,789. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. First Industrial Realty Trust, Inc. has a 1-year low of $40.31 and a 1-year high of $58.17. The firm's fifty day moving average price is $51.10 and its 200-day moving average price is $52.20. The firm has a market cap of $6.44 billion, a P/E ratio of 22.31 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). The company had revenue of $177.07 million during the quarter, compared to the consensus estimate of $176.98 million. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. On average, sell-side analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.445 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.78 annualized dividend and a yield of 3.66%. First Industrial Realty Trust's payout ratio is 88.12%.

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.