Allianz Asset Management GmbH Purchases 1,868 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Allianz Asset Management GmbH boosted its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 791,847 shares of the real estate investment trust’s stock after acquiring an additional 1,868 shares during the quarter. Allianz Asset Management GmbH’s holdings in First Industrial Realty Trust were worth $39,695,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Handelsbanken Fonder AB raised its holdings in shares of First Industrial Realty Trust by 2.3% during the fourth quarter. Handelsbanken Fonder AB now owns 39,774 shares of the real estate investment trust’s stock valued at $1,994,000 after purchasing an additional 900 shares during the last quarter. Alberta Investment Management Corp grew its position in First Industrial Realty Trust by 2.9% in the 4th quarter. Alberta Investment Management Corp now owns 492,431 shares of the real estate investment trust’s stock worth $24,686,000 after purchasing an additional 14,041 shares during the period. Global Retirement Partners LLC raised its stake in First Industrial Realty Trust by 28.7% during the 4th quarter. Global Retirement Partners LLC now owns 4,392 shares of the real estate investment trust’s stock valued at $220,000 after buying an additional 979 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of First Industrial Realty Trust during the 4th quarter valued at $185,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of First Industrial Realty Trust by 200.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 747 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FR shares. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price objective for the company. Barclays reduced their price target on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Robert W. Baird upped their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $52.00 to $59.00 in a research note on Friday. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $58.31.

First Industrial Realty Trust Price Performance

NYSE:FR opened at $55.69 on Monday. The stock has a market cap of $7.37 billion, a PE ratio of 25.55 and a beta of 1.09. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The business’s 50-day simple moving average is $52.26 and its two-hundred day simple moving average is $53.65. First Industrial Realty Trust, Inc. has a 52 week low of $45.10 and a 52 week high of $57.35.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. As a group, analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 3.20%. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, March 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 81.65%.

First Industrial Realty Trust 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.