First Industrial Realty Trust, Inc. (NYSE:FR) Forecasted to Post FY2024 Earnings of $2.58 Per Share

First Industrial Realty Trust, Inc. (NYSE:FR) – Analysts at Wedbush cut their FY2024 EPS estimates for First Industrial Realty Trust in a note issued to investors on Thursday, April 25th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will earn $2.58 per share for the year, down from their prior estimate of $2.63. Wedbush currently has a “Neutral” rating and a $49.00 target price on the stock. The consensus estimate for First Industrial Realty Trust’s current full-year earnings is $2.60 per share. Wedbush also issued estimates for First Industrial Realty Trust’s FY2025 earnings at $2.84 EPS.

Other equities analysts also recently issued research reports about the stock. Barclays reaffirmed an “equal weight” rating and set a $53.00 target price (down previously from $63.00) on shares of First Industrial Realty Trust in a research note on Wednesday, March 27th. Royal Bank of Canada lifted their price target on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. The Goldman Sachs Group lifted their price target on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the company a “sell” rating in a report on Thursday, January 11th. JPMorgan Chase & Co. reduced their target price on shares of First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, TheStreet upgraded shares of First Industrial Realty Trust from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $53.11.

First Industrial Realty Trust Stock Performance

Shares of FR opened at $46.00 on Friday. First Industrial Realty Trust has a one year low of $40.44 and a one year high of $55.22. The company has a 50-day simple moving average of $51.55 and a two-hundred day simple moving average of $49.88. The firm has a market capitalization of $6.09 billion, a PE ratio of 21.20 and a beta of 1.01. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.06.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Farmers & Merchants Investments Inc. increased its stake in shares of First Industrial Realty Trust by 781.7% in the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 469 shares during the period. Mather Group LLC. purchased a new position in shares of First Industrial Realty Trust in the first quarter worth about $50,000. EdgeRock Capital LLC purchased a new position in shares of First Industrial Realty Trust in the fourth quarter worth about $56,000. C M Bidwell & Associates Ltd. raised its stake in First Industrial Realty Trust by 119.5% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 765 shares during the period. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in First Industrial Realty Trust during the fourth quarter worth about $82,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Wednesday, March 27th. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.32. First Industrial Realty Trust’s payout ratio is 68.20%.

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.