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

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 188,641 shares of the real estate investment trust’s stock, valued at approximately $11,566,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.14% of First Industrial Realty Trust as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FR. BlackRock Inc. acquired a new stake in shares of First Industrial Realty Trust in the 2nd quarter valued at approximately $1,021,489,000. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 worth $560,443,000 after buying an additional 9,784,830 shares in the last quarter. Norges Bank purchased a new stake in First Industrial Realty Trust during the fourth quarter worth about $320,075,000. Cohen & Steers Inc. acquired a new position in First Industrial Realty Trust during the fourth quarter worth about $118,365,000. Finally, Rush Island Management LP acquired a new position in First Industrial Realty Trust during the second quarter worth about $79,904,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FR shares. Citigroup lifted their price target on shares of First Industrial Realty Trust from $63.00 to $72.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Royal Bank Of Canada raised their price objective on First Industrial Realty Trust from $68.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $71.00 price objective on shares of First Industrial Realty Trust in a report on Monday, July 27th. Raymond James Financial reiterated a “strong-buy” rating on shares of First Industrial Realty Trust in a research report on Thursday, June 18th. Finally, Truist Financial boosted their target price on 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. One equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $67.07.

First Industrial Realty Trust Trading Down 0.9%

Shares of FR 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. The firm has a 50 day simple moving average of $64.29 and a 200-day simple moving average of $62.22. First Industrial Realty Trust, Inc. has a 1-year low of $50.24 and a 1-year high of $69.88. The stock 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 announced its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.22). First Industrial Realty Trust had a net margin of 47.97% and a return on equity of 12.99%. The business had revenue of $194.94 million during the quarter, compared to analysts’ expectations of $195.81 million. During the same period in the prior year, the firm earned $0.76 EPS. First Industrial Realty Trust’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. Equities analysts forecast that First Industrial Realty Trust, Inc. will post 3.17 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The business 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 $0.50 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 72.99%.

First Industrial Realty Trust Company 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.