Analysts Expect First Industrial Realty Trust, Inc. (FR) Will Announce Earnings of $0.41 Per Share

Equities research analysts forecast that First Industrial Realty Trust, Inc. (NYSE:FR) will report earnings per share (EPS) of $0.41 for the current quarter, according to Zacks. Five analysts have provided estimates for First Industrial Realty Trust’s earnings. The lowest EPS estimate is $0.40 and the highest is $0.42. First Industrial Realty Trust also posted earnings of $0.41 per share during the same quarter last year. The business is scheduled to announce its next quarterly earnings results on Wednesday, February 20th.

On average, analysts expect that First Industrial Realty Trust will report full year earnings of $1.59 per share for the current year, with EPS estimates ranging from $1.58 to $1.60. For the next year, analysts expect that the business will report earnings of $1.68 per share, with EPS estimates ranging from $1.65 to $1.71. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover First Industrial Realty Trust.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, October 24th. The real estate investment trust reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. The firm had revenue of $100.26 million during the quarter, compared to analysts’ expectations of $99.74 million. First Industrial Realty Trust had a return on equity of 13.40% and a net margin of 52.47%.

A number of equities research analysts recently weighed in on the company. SunTrust Banks set a $35.00 price objective on First Industrial Realty Trust and gave the stock a “buy” rating in a research note on Tuesday, August 7th. ValuEngine cut First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Finally, Zacks Investment Research cut First Industrial Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $33.67.

Shares of NYSE FR opened at $31.41 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market cap of $3.97 billion, a P/E ratio of 20.01 and a beta of 0.62. First Industrial Realty Trust has a 1-year low of $27.61 and a 1-year high of $34.04.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 22nd. Shareholders of record on Monday, December 31st will be paid a $0.2175 dividend. This represents a $0.87 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Friday, December 28th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 55.41%.

In other First Industrial Realty Trust news, Director H Patrick Hackett, Jr. sold 15,000 shares of the stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $31.38, for a total value of $470,700.00. Following the completion of the sale, the director now directly owns 37,577 shares in the company, valued at $1,179,166.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.71% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in First Industrial Realty Trust by 1.5% in the third quarter. BlackRock Inc. now owns 18,969,360 shares of the real estate investment trust’s stock valued at $595,639,000 after buying an additional 274,196 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of First Industrial Realty Trust by 1.2% in the third quarter. Vanguard Group Inc. now owns 18,681,684 shares of the real estate investment trust’s stock valued at $586,605,000 after purchasing an additional 215,720 shares during the period. Northern Trust Corp increased its holdings in shares of First Industrial Realty Trust by 2.7% in the second quarter. Northern Trust Corp now owns 3,552,863 shares of the real estate investment trust’s stock valued at $118,452,000 after purchasing an additional 93,396 shares during the period. Renaissance Technologies LLC increased its holdings in shares of First Industrial Realty Trust by 8.8% in the third quarter. Renaissance Technologies LLC now owns 3,386,000 shares of the real estate investment trust’s stock valued at $106,320,000 after purchasing an additional 273,500 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of First Industrial Realty Trust by 7.0% in the second quarter. Bank of New York Mellon Corp now owns 2,450,435 shares of the real estate investment trust’s stock valued at $81,697,000 after purchasing an additional 161,037 shares during the period. Institutional investors own 92.66% of the company’s stock.

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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