Allianz Asset Management GmbH Acquires 224,747 Shares of First Industrial Realty Trust, Inc. $FR

Key Points

• Allianz Asset Management GmbH increased its holdings in First Industrial Realty Trust, Inc. by 36.7% during the second quarter, acquiring an additional 224,747 shares.
• The company reported a quarterly EPS of $0.76, surpassing expectations, and an annual revenue increase of 8.2%.
• First Industrial Realty Trust recently declared a quarterly dividend of $0.445 per share, reflecting a 3.2% dividend yield.

Allianz Asset Management GmbH lifted its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 36.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 837,884 shares of the real estate investment trust's stock after buying an additional 224,747 shares during the quarter. Allianz Asset Management GmbH owned about 0.63% of First Industrial Realty Trust worth $40,327,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp grew its stake in shares of First Industrial Realty Trust by 15.9% in the second quarter. Fifth Third Bancorp now owns 1,503 shares of the real estate investment trust's stock valued at $72,000 after buying an additional 206 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of First Industrial Realty Trust by 1.1% in the first quarter. Cetera Investment Advisers now owns 19,500 shares of the real estate investment trust's stock valued at $1,052,000 after buying an additional 220 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of First Industrial Realty Trust by 93.0% in the first quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 225 shares in the last quarter. Great Lakes Advisors LLC grew its stake in shares of First Industrial Realty Trust by 0.5% in the first quarter. Great Lakes Advisors LLC now owns 49,137 shares of the real estate investment trust's stock valued at $2,651,000 after buying an additional 236 shares in the last quarter. Finally, Norinchukin Bank The grew its stake in shares of First Industrial Realty Trust by 4.6% in the first quarter. Norinchukin Bank The now owns 6,112 shares of the real estate investment trust's stock valued at $330,000 after buying an additional 268 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Trading Up 1.3%

Shares of First Industrial Realty Trust stock opened at $55.15 on Friday. The business has a fifty day simple moving average of $51.41 and a two-hundred day simple moving average of $49.64. First Industrial Realty Trust, Inc. has a 1 year low of $40.31 and a 1 year high of $58.17. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 30.81 and a beta of 1.07. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.91 and a quick ratio of 1.04.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. First Industrial Realty Trust had a return on equity of 8.65% and a net margin of 33.18%.The business had revenue of $181.43 million during the quarter, compared to the consensus estimate of $182.63 million. During the same quarter last year, the firm posted $0.69 EPS. The company's quarterly revenue was up 8.2% on a year-over-year basis. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. Research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.445 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.2%. First Industrial Realty Trust's dividend payout ratio (DPR) is currently 99.44%.

Wall Street Analyst Weigh In

FR has been the subject of several analyst reports. 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. Royal Bank Of Canada reissued an "outperform" rating and issued a $60.00 target price on shares of First Industrial Realty Trust in a research note on Monday, September 29th. Cantor Fitzgerald initiated coverage on First Industrial Realty Trust in a report on Wednesday, October 1st. They set a "neutral" rating and a $55.00 price target for the company. Mizuho raised their price target on First Industrial Realty Trust from $53.00 to $56.00 and gave the company an "outperform" rating in a report on Monday, September 8th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of First Industrial Realty Trust in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, First Industrial Realty Trust has a consensus rating of "Hold" and an average target price of $55.00.

First Industrial Realty Trust Company 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.

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