Q4 2017 EPS Estimates for First Industrial Realty Trust, Inc. Reduced by Jefferies Group (FR)

First Industrial Realty Trust, Inc. (NYSE:FR) – Research analysts at Jefferies Group decreased their Q4 2017 EPS estimates for shares of First Industrial Realty Trust in a research note issued on Tuesday. Jefferies Group analyst J. Petersen now anticipates that the real estate investment trust will earn $0.40 per share for the quarter, down from their previous estimate of $0.41. Jefferies Group currently has a “Buy” rating on the stock.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.25. First Industrial Realty Trust had a return on equity of 9.54% and a net margin of 32.44%. The firm had revenue of $99.30 million for the quarter, compared to analysts’ expectations of $98.38 million. During the same quarter last year, the business earned $0.37 earnings per share. The company’s revenue was up 6.1% compared to the same quarter last year.

FR has been the topic of a number of other research reports. SunTrust Banks restated a “buy” rating and set a $32.00 target price on shares of First Industrial Realty Trust in a report on Friday, October 27th. Stifel Nicolaus raised their target price on First Industrial Realty Trust from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, November 6th. JPMorgan Chase & Co. cut First Industrial Realty Trust from a “neutral” rating to an “underweight” rating and set a $31.00 target price on the stock. in a report on Friday, December 15th. ValuEngine cut First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, KeyCorp restated a “hold” rating on shares of First Industrial Realty Trust in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $32.29.

First Industrial Realty Trust (NYSE FR) opened at $30.17 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.98. First Industrial Realty Trust has a 1-year low of $25.31 and a 1-year high of $32.91. The stock has a market capitalization of $3,594.21, a PE ratio of 19.47 and a beta of 1.02.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Thursday, December 28th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 78.50%.

In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 16,855 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $31.73, for a total value of $534,809.15. Following the sale, the director now owns 883,820 shares in the company, valued at approximately $28,043,608.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce W. Duncan sold 16,854 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $32.42, for a total value of $546,406.68. Following the completion of the sale, the director now owns 866,966 shares in the company, valued at approximately $28,107,037.72. The disclosure for this sale can be found here. Insiders own 1.71% of the company’s stock.

Several large investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. increased its position in shares of First Industrial Realty Trust by 8.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,478,117 shares of the real estate investment trust’s stock worth $46,517,000 after purchasing an additional 113,069 shares during the last quarter. Bank of Montreal Can increased its position in shares of First Industrial Realty Trust by 56.0% during the 4th quarter. Bank of Montreal Can now owns 280,390 shares of the real estate investment trust’s stock worth $8,824,000 after purchasing an additional 100,636 shares during the last quarter. Convergence Investment Partners LLC increased its position in shares of First Industrial Realty Trust by 51.4% during the 4th quarter. Convergence Investment Partners LLC now owns 94,995 shares of the real estate investment trust’s stock worth $2,989,000 after purchasing an additional 32,236 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of First Industrial Realty Trust by 47.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 195,236 shares of the real estate investment trust’s stock worth $5,875,000 after purchasing an additional 62,705 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of First Industrial Realty Trust by 7.3% during the 3rd quarter. California Public Employees Retirement System now owns 215,171 shares of the real estate investment trust’s stock worth $6,474,000 after purchasing an additional 14,727 shares during the last quarter. 92.95% of the stock is currently owned by hedge funds and other institutional investors.

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First Industrial Realty Trust Company Profile

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

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