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

Allianz Asset Management GmbH boosted its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 791,847 shares of the real estate investment trust’s stock after purchasing an additional 1,868 shares during the quarter. Allianz Asset Management GmbH owned about 0.60% of First Industrial Realty Trust worth $39,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Rush Island Management LP purchased a new position in shares of First Industrial Realty Trust during the 3rd quarter valued at about $60,848,000. JPMorgan Chase & Co. grew its position in First Industrial Realty Trust by 28.7% during the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock valued at $187,798,000 after acquiring an additional 747,101 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of First Industrial Realty Trust by 290.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust’s stock worth $50,105,000 after acquiring an additional 665,920 shares in the last quarter. Zimmer Partners LP bought a new stake in shares of First Industrial Realty Trust in the 3rd quarter worth approximately $18,649,000. Finally, NFJ Investment Group LLC purchased a new stake in shares of First Industrial Realty Trust in the 3rd quarter valued at $7,778,000. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Stock Down 0.1 %

Shares of NYSE FR opened at $55.69 on Monday. The firm has a fifty day simple moving average of $52.26 and a two-hundred day simple moving average of $53.65. First Industrial Realty Trust, Inc. has a 12 month low of $45.10 and a 12 month high of $57.35. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $7.37 billion, a PE ratio of 25.55 and a beta of 1.09.

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

First Industrial Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a dividend yield of 3.20%. First Industrial Realty Trust’s payout ratio is currently 81.65%.

Analyst Ratings Changes

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

About First Industrial Realty Trust

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.