Brokerages expect First Industrial Realty Trust, Inc. (NYSE:FR) to report $99.85 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have issued 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 in the same quarter last year, which suggests a positive year-over-year growth rate of 1.9%. The business is expected to announce its next earnings report after the market closes on Wednesday, February 21st.
On average, analysts expect that First Industrial Realty Trust will report full year sales of $99.85 million for the current fiscal year, with estimates ranging from $389.60 million to $395.76 million. For the next year, analysts expect that the firm will report 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 research firms that follow First Industrial Realty Trust.
FR has been the topic of several research analyst reports. Jefferies Group raised First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. ValuEngine cut First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. KeyCorp reaffirmed a “hold” rating on shares of First Industrial Realty Trust in a research note on Tuesday, October 24th. SunTrust Banks reaffirmed a “buy” rating and set a $32.00 target price on shares of First Industrial Realty Trust in a research note on Friday, October 27th. Finally, 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 research note on Friday, December 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. First Industrial Realty Trust presently has an average rating of “Hold” and an average target price of $32.29.
First Industrial Realty Trust (FR) traded up $0.02 during trading hours on Friday, reaching $28.63. The company’s stock had a trading volume of 1,366,657 shares, compared to its average volume of 908,255. 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 52 week low of $25.56 and a 52 week high of $32.91. The stock has a market cap of $3,420.00, a PE ratio of 26.67 and a beta of 0.90.
In related news, Director Bruce W. Duncan sold 16,854 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was 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 of the company’s stock, valued at approximately $28,107,037.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.71% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. bought a new stake in shares of First Industrial Realty Trust in the 3rd quarter valued at approximately $213,000. Lourd Capital LLC bought a new stake in shares of First Industrial Realty Trust in the 4th quarter valued at approximately $244,000. OppenheimerFunds Inc. bought a new stake in shares of First Industrial Realty Trust in the 4th quarter valued at approximately $246,000. Shelton Capital Management bought a new stake in shares of First Industrial Realty Trust in the 2nd quarter valued at approximately $233,000. Finally, HRT Financial LLC bought a new stake in shares of First Industrial Realty Trust in the 4th quarter valued at approximately $318,000. 93.47% of the stock is owned by institutional investors and hedge funds.
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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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