First Industrial Realty Trust, Inc. (NYSE:FR) Issues Earnings Results, Beats Estimates By $0.25 EPS

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.

COPYRIGHT VIOLATION WARNING: “First Industrial Realty Trust, Inc. (NYSE:FR) Issues Earnings Results, Beats Estimates By $0.25 EPS” was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright legislation. The legal version of this piece can be accessed at https://www.dispatchtribunal.com/2017/11/12/first-industrial-realty-trust-inc-fr-posts-earnings-results-beats-expectations-by-0-25-eps.html.

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.

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

Receive News & Ratings for First Industrial Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Industrial Realty Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply