Zacks: Analysts Anticipate First Industrial Realty Trust, Inc. (FR) Will Post Earnings of $0.40 Per Share

Wall Street analysts forecast that First Industrial Realty Trust, Inc. (NYSE:FR) will report earnings per share (EPS) of $0.40 for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for First Industrial Realty Trust’s earnings, with the lowest EPS estimate coming in at $0.40 and the highest estimate coming in at $0.41. First Industrial Realty Trust reported earnings per share of $0.39 in the same quarter last year, which suggests a positive year over year growth rate of 2.6%. The business is expected to issue its next earnings results on Wednesday, July 25th.

On average, analysts expect that First Industrial Realty Trust will report full year earnings of $1.61 per share for the current fiscal year, with EPS estimates ranging from $1.58 to $1.63. For the next financial year, analysts anticipate that the business will post earnings of $1.70 per share, with EPS estimates ranging from $1.68 to $1.72. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow First Industrial Realty Trust.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Tuesday, April 24th. The real estate investment trust reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.17. The firm had revenue of $99.77 million during the quarter, compared to analysts’ expectations of $98.86 million. First Industrial Realty Trust had a net margin of 53.92% and a return on equity of 15.01%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 EPS.

A number of brokerages have recently issued reports on FR. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, April 27th. ValuEngine cut shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, April 11th. Mizuho upgraded shares of First Industrial Realty Trust from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Monday, May 7th. SunTrust Banks set a $32.00 price objective on shares of First Industrial Realty Trust and gave the company a “buy” rating in a research note on Friday, March 2nd. Finally, Stifel Nicolaus dropped their price objective on shares of First Industrial Realty Trust from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $32.86.

In other news, CFO Scott A. Musil sold 16,300 shares of the stock in a transaction on Friday, April 27th. The shares were sold at an average price of $30.31, for a total value of $494,053.00. Following the completion of the transaction, the chief financial officer now owns 108,672 shares in the company, valued at approximately $3,293,848.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Johannson L. Yap sold 19,156 shares of the company’s stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $30.24, for a total transaction of $579,277.44. Following the completion of the sale, the insider now directly owns 272,877 shares in the company, valued at approximately $8,251,800.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,140 shares of company stock valued at $2,167,011. Corporate insiders own 1.71% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of First Industrial Realty Trust by 1.0% in the 1st quarter. BlackRock Inc. now owns 18,525,189 shares of the real estate investment trust’s stock worth $541,491,000 after purchasing an additional 175,968 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of First Industrial Realty Trust by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 4,102,838 shares of the real estate investment trust’s stock worth $119,926,000 after purchasing an additional 99,375 shares during the last quarter. Northern Trust Corp grew its holdings in shares of First Industrial Realty Trust by 2.2% in the 1st quarter. Northern Trust Corp now owns 3,459,467 shares of the real estate investment trust’s stock worth $101,119,000 after purchasing an additional 74,953 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of First Industrial Realty Trust by 39.6% in the 4th quarter. Renaissance Technologies LLC now owns 2,268,200 shares of the real estate investment trust’s stock worth $71,380,000 after purchasing an additional 643,800 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of First Industrial Realty Trust by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,814,483 shares of the real estate investment trust’s stock worth $53,037,000 after purchasing an additional 40,984 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust opened at $32.13 on Monday, MarketBeat reports. The firm has a market cap of $3.97 billion, a P/E ratio of 20.44 and a beta of 0.87. First Industrial Realty Trust has a one year low of $27.61 and a one year high of $32.91. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.94.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be paid a $0.218 dividend. This represents a $0.87 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Thursday, June 28th. First Industrial Realty Trust’s dividend payout ratio is 55.41%.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

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

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