First Industrial Realty Trust (NYSE:FR) Issues FY20 Earnings Guidance

First Industrial Realty Trust (NYSE:FR) issued an update on its FY20 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.78-1.88 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.83. First Industrial Realty Trust also updated its FY 2020
After-Hours guidance to 1.78-1.88 EPS.

Shares of NYSE FR opened at $46.01 on Friday. The company’s 50-day simple moving average is $42.72 and its 200-day simple moving average is $40.79. First Industrial Realty Trust has a 52-week low of $33.08 and a 52-week high of $46.12. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 3.92 and a beta of 0.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.32. First Industrial Realty Trust had a net margin of 56.05% and a return on equity of 14.14%. The firm had revenue of $110.76 million during the quarter, compared to the consensus estimate of $108.51 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts anticipate that First Industrial Realty Trust will post 1.83 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 20th. Investors of record on Tuesday, March 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Monday, March 30th. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.23. First Industrial Realty Trust’s dividend payout ratio is 52.87%.

FR has been the subject of several research analyst reports. BMO Capital Markets reduced their price target on shares of First Industrial Realty Trust from $12.00 to $10.50 and set a market perform rating for the company in a research report on Wednesday, January 22nd. Zacks Investment Research downgraded shares of First Industrial Realty Trust from a hold rating to a sell rating in a research report on Monday, January 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. First Industrial Realty Trust currently has an average rating of Hold and a consensus target price of $33.70.

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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