First Industrial Realty Trust, Inc. (NYSE:FR) released its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.25, Bloomberg Earnings reports. The company had revenue of $99.30 million during the quarter, compared to analyst estimates of $98.38 million. First Industrial Realty Trust had a return on equity of 9.54% and a net margin of 32.44%. First Industrial Realty Trust’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share. First Industrial Realty Trust updated its FY17 guidance to $1.52-1.57 EPS.
First Industrial Realty Trust (NYSE:FR) remained flat at $$31.57 during trading hours on Friday. The company’s stock had a trading volume of 471,800 shares, compared to its average volume of 773,177. The stock has a market cap of $3,784.17, a PE ratio of 20.50 and a beta of 1.01. First Industrial Realty Trust has a 12 month low of $25.04 and a 12 month high of $31.91. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.98.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.84 annualized dividend and a dividend yield of 2.66%. First Industrial Realty Trust’s dividend payout ratio is currently 78.50%.
Several equities analysts have recently issued reports on FR shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $32.00 target price (up from $30.00) on shares of First Industrial Realty Trust in a report on Thursday, August 24th. KeyCorp reaffirmed a “hold” rating on shares of First Industrial Realty Trust in a report on Tuesday, October 24th. BidaskClub upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Janney Montgomery Scott assumed coverage on First Industrial Realty Trust in a research note on Friday, September 29th. They issued a “buy” rating and a $34.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $31.67.
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In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 16,855 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $31.73, for a total transaction of $534,809.15. Following the sale, the director now owns 883,820 shares in the company, valued at $28,043,608.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David Harker sold 20,000 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $30.45, for a total value of $609,000.00. Following the completion of the sale, the executive vice president now owns 118,470 shares in the company, valued at approximately $3,607,411.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,565 shares of company stock worth $2,194,718. Company insiders own 1.71% of the company’s stock.
About First Industrial Realty Trust
First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.
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