First Industrial Realty Trust, Inc. (FR) Stake Raised by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 72.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 613,975 shares of the real estate investment trust’s stock after acquiring an additional 257,222 shares during the quarter. Allianz Asset Management GmbH owned 0.49% of First Industrial Realty Trust worth $19,279,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Assetmark Inc. acquired a new stake in First Industrial Realty Trust in the 2nd quarter valued at about $121,000. Qube Research & Technologies Ltd acquired a new stake in First Industrial Realty Trust in the 2nd quarter valued at about $164,000. Greenwood Capital Associates LLC acquired a new stake in First Industrial Realty Trust in the 2nd quarter valued at about $212,000. Quantbot Technologies LP acquired a new stake in First Industrial Realty Trust in the 3rd quarter valued at about $248,000. Finally, Redpoint Investment Management Pty Ltd acquired a new stake in First Industrial Realty Trust in the 3rd quarter valued at about $310,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE FR opened at $31.88 on Friday. The company has a market cap of $3.97 billion, a PE ratio of 20.31 and a beta of 0.65. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.31 and a quick ratio of 1.31. First Industrial Realty Trust, Inc. has a 1 year low of $27.61 and a 1 year high of $34.04.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, October 24th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.06. The business had revenue of $100.26 million during the quarter, compared to the consensus estimate of $99.74 million. First Industrial Realty Trust had a net margin of 52.47% and a return on equity of 13.40%. On average, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 1.59 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 22nd. Stockholders of record on Monday, December 31st will be issued a dividend of $0.2175 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 2.73%. First Industrial Realty Trust’s dividend payout ratio is currently 55.41%.

A number of analysts have commented on the stock. ValuEngine downgraded shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, November 2nd. Zacks Investment Research downgraded shares of First Industrial Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $33.67.

In other news, Director H Patrick Hackett, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $31.38, for a total transaction of $470,700.00. Following the completion of the sale, the director now owns 37,577 shares in the company, valued at approximately $1,179,166.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce W. Duncan sold 90,000 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $32.24, for a total transaction of $2,901,600.00. The disclosure for this sale can be found here. 1.71% of the stock is owned by company insiders.

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About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

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Institutional Ownership by Quarter for First Industrial Realty Trust (NYSE:FR)

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