Connor Clark & Lunn Investment Management Ltd. Invests $11.57 Million in First Industrial Realty Trust, Inc. $FR

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 188,641 shares of the real estate investment trust’s stock, valued at approximately $11,566,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC increased its position in shares of First Industrial Realty Trust by 2.0% in the first quarter. Sequoia Financial Advisors LLC now owns 8,184 shares of the real estate investment trust’s stock worth $473,000 after acquiring an additional 163 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of First Industrial Realty Trust by 4.3% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,463 shares of the real estate investment trust’s stock valued at $258,000 after acquiring an additional 183 shares in the last quarter. Quadrant Capital Group LLC boosted its position in First Industrial Realty Trust by 2.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 10,761 shares of the real estate investment trust’s stock worth $554,000 after purchasing an additional 211 shares during the period. Fifth Third Bancorp increased its holdings in First Industrial Realty Trust by 16.0% in the 4th quarter. Fifth Third Bancorp now owns 1,758 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 242 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in First Industrial Realty Trust by 1.8% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 14,870 shares of the real estate investment trust’s stock valued at $852,000 after purchasing an additional 260 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FR. Royal Bank Of Canada boosted their price objective on First Industrial Realty Trust from $68.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of First Industrial Realty Trust in a research report on Friday, July 24th. Cantor Fitzgerald reiterated a “neutral” rating and set a $71.00 price objective on shares of First Industrial Realty Trust in a research note on Monday, July 27th. Robert W. Baird boosted their target price on shares of First Industrial Realty Trust from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, KeyCorp restated a “sector weight” rating on shares of First Industrial Realty Trust in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, First Industrial Realty Trust currently has a consensus rating of “Moderate Buy” and an average price target of $67.07.

First Industrial Realty Trust Stock Down 0.9%

FR stock opened at $62.94 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 1.44. First Industrial Realty Trust, Inc. has a 1-year low of $50.24 and a 1-year high of $69.88. The firm has a fifty day moving average price of $64.29 and a two-hundred day moving average price of $62.22. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 22.97 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). The business 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 business earned $0.76 EPS. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. Research analysts predict that First Industrial Realty Trust, Inc. will post 3.17 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 19th. Investors of record on Wednesday, September 30th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is 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.