Allianz Asset Management GmbH Lowers Stock Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Allianz Asset Management GmbH reduced its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 22.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 613,137 shares of the real estate investment trust's stock after selling 178,710 shares during the period. Allianz Asset Management GmbH owned approximately 0.46% of First Industrial Realty Trust worth $33,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in FR. Invesco Ltd. increased its position in First Industrial Realty Trust by 80.2% during the 4th quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust's stock valued at $214,401,000 after buying an additional 1,903,164 shares in the last quarter. Norges Bank acquired a new position in First Industrial Realty Trust during the 4th quarter valued at about $90,489,000. Artemis Investment Management LLP acquired a new position in First Industrial Realty Trust during the 1st quarter valued at about $40,294,000. Deutsche Bank AG increased its position in First Industrial Realty Trust by 56.1% during the 4th quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust's stock valued at $94,176,000 after buying an additional 675,306 shares in the last quarter. Finally, Rush Island Management LP increased its position in First Industrial Realty Trust by 50.9% during the 4th quarter. Rush Island Management LP now owns 1,640,530 shares of the real estate investment trust's stock valued at $82,240,000 after buying an additional 553,567 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FR shares. Royal Bank Of Canada reduced their target price on First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Robert W. Baird reduced their price objective on First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. 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 research note on Monday, May 5th. Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, JPMorgan Chase & Co. reduced their price objective 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. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $55.91.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock traded down $0.27 during midday trading on Friday, hitting $49.86. 929,207 shares of the company were exchanged, compared to its average volume of 1,724,129. The firm has a market capitalization of $6.60 billion, a PE ratio of 24.32 and a beta of 1.07. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $58.17. The business has a fifty day simple moving average of $49.32 and a two-hundred day simple moving average of $51.03. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.04 and a current ratio of 1.04.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 EPS for the quarter, topping the consensus estimate of $0.72 by $0.04. The firm had revenue of $180.16 million for the quarter, compared to analyst estimates of $176.46 million. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%. First Industrial Realty Trust's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. On average, sell-side analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, June 30th were given a dividend of $0.445 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.78 dividend on an annualized basis and a yield of 3.57%. First Industrial Realty Trust's dividend payout ratio is currently 86.83%.

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.