Man Group plc Acquires New Holdings in First Industrial Realty Trust, Inc. $FR

Man Group plc bought a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 59,693 shares of the real estate investment trust’s stock, valued at approximately $3,660,000.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of First Industrial Realty Trust in the 2nd quarter valued at about $1,021,489,000. Northwestern Mutual Wealth Management Co. boosted its position 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 worth $560,443,000 after buying an additional 9,784,830 shares during the period. Norges Bank acquired a new position in shares of First Industrial Realty Trust during the fourth quarter worth about $320,075,000. Cohen & Steers Inc. bought a new position in shares of First Industrial Realty Trust during the fourth quarter worth about $118,365,000. Finally, Rush Island Management LP bought a new position in shares of First Industrial Realty Trust during the second quarter worth about $79,904,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Performance

Shares of FR opened at $61.88 on Tuesday. The company has a market cap of $8.20 billion, a PE ratio of 22.58 and a beta of 1.04. The firm has a 50-day moving average of $64.28 and a 200-day moving average of $62.26. First Industrial Realty Trust, Inc. has a one year low of $50.24 and a one year high of $69.88. 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 (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). First Industrial Realty Trust had a net margin of 47.97% and a return on equity of 12.99%. The firm had revenue of $194.94 million during the quarter, compared to the consensus estimate of $195.81 million. During the same period in the previous year, the company posted $0.76 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. As a group, equities analysts forecast that First Industrial Realty Trust, Inc. will post 3.17 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 19th. Stockholders of record on Wednesday, September 30th will be given 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 presently 72.99%.

Analyst Ratings Changes

Several research firms have commented on FR. Cantor Fitzgerald restated a “neutral” rating and issued a $71.00 target price on shares of First Industrial Realty Trust in a research note on Monday, July 27th. Royal Bank Of Canada raised their price target on shares of 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. Robert W. Baird lifted their price objective on shares of First Industrial Realty Trust from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Citigroup boosted their price objective on shares of First Industrial Realty Trust from $63.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Finally, Wells Fargo & Company reduced their target price on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. One 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 stock. Based on data from MarketBeat.com, First Industrial Realty Trust currently has an average rating of “Moderate Buy” and a consensus price target of $67.07.

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.