Brokerages Expect First Industrial Realty Trust, Inc. (FR) Will Announce Quarterly Sales of $99.85 Million

Wall Street brokerages forecast that First Industrial Realty Trust, Inc. (NYSE:FR) will post sales of $99.85 million for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for First Industrial Realty Trust’s earnings. The lowest sales estimate is $98.11 million and the highest is $101.49 million. First Industrial Realty Trust reported sales of $97.98 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1.9%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 28th.

On average, analysts expect that First Industrial Realty Trust will report full year sales of $99.85 million for the current financial year, with estimates ranging from $389.60 million to $395.76 million. For the next financial year, analysts expect that the company will post sales of $405.72 million per share, with estimates ranging from $400.60 million to $409.82 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow First Industrial Realty Trust.

Several brokerages recently issued reports on FR. Jefferies Group reiterated a “hold” rating and set a $34.00 price target on shares of First Industrial Realty Trust in a report on Friday, November 24th. ValuEngine upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. Robert W. Baird reiterated a “hold” rating and set a $31.00 price target on shares of First Industrial Realty Trust in a report on Tuesday, January 9th. KeyCorp reissued a “hold” rating on shares of First Industrial Realty Trust in a research report on Tuesday, October 24th. Finally, SunTrust Banks reissued a “buy” rating and issued a $34.00 price objective on shares of First Industrial Realty Trust in a research report on Friday, November 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $32.29.

In other news, Director Bruce W. Duncan sold 16,855 shares of the company’s 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 transaction, the director now owns 883,820 shares of the company’s stock, valued at approximately $28,043,608.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce W. Duncan sold 16,854 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 866,966 shares in the company, valued at approximately $28,107,037.72. The disclosure for this sale can be found here. 1.71% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Amalgamated Bank lifted its position in shares of First Industrial Realty Trust by 2.2% during the 2nd quarter. Amalgamated Bank now owns 16,607 shares of the real estate investment trust’s stock valued at $475,000 after buying an additional 351 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of First Industrial Realty Trust by 1.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 45,128 shares of the real estate investment trust’s stock valued at $1,292,000 after buying an additional 523 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in shares of First Industrial Realty Trust by 1.0% during the 2nd quarter. Mutual of America Capital Management LLC now owns 95,427 shares of the real estate investment trust’s stock valued at $2,731,000 after buying an additional 975 shares during the last quarter. Phocas Financial Corp. lifted its position in shares of First Industrial Realty Trust by 3.5% during the 2nd quarter. Phocas Financial Corp. now owns 34,336 shares of the real estate investment trust’s stock valued at $983,000 after buying an additional 1,177 shares during the last quarter. Finally, Virtu KCG Holdings LLC lifted its position in shares of First Industrial Realty Trust by 15.8% during the 2nd quarter. Virtu KCG Holdings LLC now owns 10,323 shares of the real estate investment trust’s stock valued at $295,000 after buying an additional 1,405 shares during the last quarter. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Shares of First Industrial Realty Trust (NYSE FR) traded down $0.24 during trading on Wednesday, reaching $30.78. The company had a trading volume of 657,751 shares, compared to its average volume of 770,762. First Industrial Realty Trust has a 1-year low of $25.31 and a 1-year high of $32.91. The company has a market capitalization of $3,717.65, a P/E ratio of 28.77 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.81.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.84 annualized dividend and a yield of 2.73%. First Industrial Realty Trust’s dividend payout ratio is currently 78.50%.

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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.

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

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