Allianz Asset Management GmbH Has $40.33 Million Stock Position in First Industrial Realty Trust, Inc. $FR

Allianz Asset Management GmbH lifted its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 36.7% in the second quarter, according to its most recent disclosure with the SEC. 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’s holdings in First Industrial Realty Trust were worth $40,327,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. New York State Teachers Retirement System lifted its holdings in shares of First Industrial Realty Trust by 3.8% during the second quarter. New York State Teachers Retirement System now owns 49,981 shares of the real estate investment trust’s stock worth $2,406,000 after buying an additional 1,807 shares in the last quarter. Moran Wealth Management LLC bought a new position in shares of First Industrial Realty Trust in the second quarter worth $1,432,000. Allspring Global Investments Holdings LLC increased its position in shares of First Industrial Realty Trust by 3.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 21,771 shares of the real estate investment trust’s stock worth $1,053,000 after purchasing an additional 757 shares during the period. CWM LLC increased its position in shares of First Industrial Realty Trust by 912.6% in the second quarter. CWM LLC now owns 53,670 shares of the real estate investment trust’s stock worth $2,583,000 after purchasing an additional 48,370 shares during the period. Finally, Inspire Investing LLC increased its position in shares of First Industrial Realty Trust by 28.2% in the second quarter. Inspire Investing LLC now owns 8,173 shares of the real estate investment trust’s stock worth $393,000 after purchasing an additional 1,800 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FR shares. Wall Street Zen upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Industrial Alliance Securities set a $55.00 price target on First Industrial Realty Trust in a research report on Wednesday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of First Industrial Realty Trust in a research report on Wednesday, October 8th. Cantor Fitzgerald started coverage on First Industrial Realty Trust in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $55.00 price target on the stock. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $60.00 price target on shares of First Industrial Realty Trust in a research report on Monday, September 29th. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $55.00.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock opened at $55.15 on Friday. First Industrial Realty Trust, Inc. has a 12-month low of $40.31 and a 12-month high of $58.17. The company has a quick ratio of 1.04, a current ratio of 0.91 and a debt-to-equity ratio of 0.88. The business’s 50-day moving average price is $51.41 and its two-hundred day moving average price is $49.64. The stock has a market cap of $7.30 billion, a PE ratio of 30.81 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $181.43 million for the quarter, compared to analysts’ expectations of $182.63 million. During the same quarter in the previous year, the business posted $0.69 earnings per share. The business’s revenue for the quarter 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. As a group, analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared 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. This represents a $1.78 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, September 30th. First Industrial Realty Trust’s payout ratio is 99.44%.

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.