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

Allianz Asset Management GmbH lowered its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FRFree Report) by 11.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 870,828 shares of the real estate investment trust’s stock after selling 116,975 shares during the quarter. Allianz Asset Management GmbH owned 0.66% of First Industrial Realty Trust worth $45,867,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FR. EdgeRock Capital LLC bought a new position in shares of First Industrial Realty Trust in the 4th quarter valued at about $56,000. CWM LLC boosted its stake in First Industrial Realty Trust by 31.9% during the fourth quarter. CWM LLC now owns 1,613 shares of the real estate investment trust’s stock worth $85,000 after buying an additional 390 shares during the period. Covestor Ltd raised its stake in shares of First Industrial Realty Trust by 14.0% in the third quarter. Covestor Ltd now owns 1,960 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 241 shares during the period. Principal Securities Inc. bought a new stake in shares of First Industrial Realty Trust in the 4th quarter worth about $143,000. Finally, International Assets Investment Management LLC purchased a new position in shares of First Industrial Realty Trust during the 4th quarter worth about $153,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock traded up $0.51 during mid-day trading on Thursday, reaching $46.43. 26,121 shares of the company traded hands, compared to its average volume of 1,095,720. The firm’s fifty day moving average is $48.77 and its two-hundred day moving average is $50.52. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 21.16 and a beta of 1.05. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.44 and a fifty-two week high of $55.22. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.25.

First Industrial Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Friday, June 28th. First Industrial Realty Trust’s payout ratio is 68.20%.

Analyst Upgrades and Downgrades

FR has been the topic of a number of analyst reports. Truist Financial upped their target price on First Industrial Realty Trust from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Scotiabank reduced their price target on shares of First Industrial Realty Trust from $55.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 16th. JPMorgan Chase & Co. lowered their price objective on shares of First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Barclays reaffirmed an “equal weight” rating and set a $53.00 target price (down from $63.00) on shares of First Industrial Realty Trust in a research report on Wednesday, March 27th. Finally, Robert W. Baird lowered their price target on First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, First Industrial Realty Trust currently has an average rating of “Hold” and a consensus price target of $53.09.

Get Our Latest Stock Analysis on First Industrial Realty Trust

First Industrial Realty Trust Company Profile

(Free Report)

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.

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

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