Zacks: Analysts Anticipate First Industrial Realty Trust, Inc. (NYSE:FR) to Announce $0.49 Earnings Per Share

Wall Street analysts expect that First Industrial Realty Trust, Inc. (NYSE:FR) will post earnings of $0.49 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for First Industrial Realty Trust’s earnings, with the lowest EPS estimate coming in at $0.48 and the highest estimate coming in at $0.49. First Industrial Realty Trust also reported earnings per share of $0.49 during the same quarter last year. The business is expected to issue its next quarterly earnings results on Wednesday, October 20th.

According to Zacks, analysts expect that First Industrial Realty Trust will report full year earnings of $1.91 per share for the current fiscal year, with EPS estimates ranging from $1.90 to $1.92. For the next fiscal year, analysts anticipate that the business will report earnings of $2.06 per share, with EPS estimates ranging from $2.03 to $2.09. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover First Industrial Realty Trust.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Tuesday, July 20th. The real estate investment trust reported $0.40 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.07). The firm had revenue of $117.40 million for the quarter, compared to the consensus estimate of $115.71 million. First Industrial Realty Trust had a return on equity of 11.43% and a net margin of 47.92%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 EPS.

Several equities analysts recently issued reports on FR shares. Royal Bank of Canada boosted their target price on shares of First Industrial Realty Trust from $51.00 to $58.00 and gave the company an “outperform” rating in a research note on Tuesday, June 1st. Scotiabank upgraded shares of First Industrial Realty Trust from a “sector underperform” rating to a “sector perform” rating and upped their price objective for the stock from $41.00 to $52.00 in a research report on Tuesday, May 25th. Wolfe Research assumed coverage on shares of First Industrial Realty Trust in a research report on Monday, June 14th. They issued a “peer perform” rating and a $54.00 target price for the company. Mizuho reiterated a “buy” rating and issued a $54.00 target price on shares of First Industrial Realty Trust in a research report on Wednesday, July 14th. Finally, Zacks Investment Research cut shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, July 15th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $49.06.

In other First Industrial Realty Trust news, EVP Peter Schultz sold 15,000 shares of the stock in a transaction dated Friday, April 30th. The shares were sold at an average price of $49.82, for a total transaction of $747,300.00. Following the completion of the transaction, the executive vice president now owns 96,424 shares of the company’s stock, valued at $4,803,843.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Scott A. Musil sold 10,800 shares of the stock in a transaction dated Monday, April 26th. The stock was sold at an average price of $49.24, for a total transaction of $531,792.00. Following the transaction, the chief financial officer now directly owns 92,528 shares of the company’s stock, valued at approximately $4,556,078.72. The disclosure for this sale can be found here. Insiders sold 40,800 shares of company stock valued at $2,017,992 in the last three months. 1.29% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. New Mexico Educational Retirement Board boosted its stake in First Industrial Realty Trust by 20.2% during the second quarter. New Mexico Educational Retirement Board now owns 26,800 shares of the real estate investment trust’s stock worth $1,400,000 after buying an additional 4,500 shares during the period. Colony Group LLC boosted its stake in shares of First Industrial Realty Trust by 0.3% in the first quarter. Colony Group LLC now owns 79,675 shares of the real estate investment trust’s stock valued at $3,648,000 after purchasing an additional 216 shares during the period. Virtu Financial LLC purchased a new position in shares of First Industrial Realty Trust in the first quarter valued at approximately $258,000. Voloridge Investment Management LLC boosted its stake in shares of First Industrial Realty Trust by 50.8% in the first quarter. Voloridge Investment Management LLC now owns 218,280 shares of the real estate investment trust’s stock valued at $9,995,000 after purchasing an additional 73,510 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of First Industrial Realty Trust by 18.3% in the first quarter. D. E. Shaw & Co. Inc. now owns 407,403 shares of the real estate investment trust’s stock valued at $18,655,000 after purchasing an additional 62,951 shares during the period. 96.58% of the stock is owned by institutional investors.

Shares of FR stock traded down $1.11 during trading hours on Friday, hitting $53.75. The company’s stock had a trading volume of 9,873 shares, compared to its average volume of 1,090,970. The stock has a 50 day simple moving average of $52.38. The stock has a market cap of $6.94 billion, a PE ratio of 32.46 and a beta of 0.87. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.14 and a current ratio of 2.14. First Industrial Realty Trust has a 12-month low of $38.85 and a 12-month high of $55.41.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 19th. Investors of record on Wednesday, June 30th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Tuesday, June 29th. First Industrial Realty Trust’s dividend payout ratio is currently 58.70%.

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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Earnings History and Estimates for First Industrial Realty Trust (NYSE:FR)

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