Zacks: Analysts Expect First Industrial Realty Trust, Inc. (NYSE:FR) Will Announce Earnings of $0.47 Per Share

Equities research analysts expect First Industrial Realty Trust, Inc. (NYSE:FR) to report earnings of $0.47 per share for the current quarter, according to Zacks. Six analysts have made estimates for First Industrial Realty Trust’s earnings, with the lowest EPS estimate coming in at $0.46 and the highest estimate coming in at $0.47. First Industrial Realty Trust posted earnings per share of $0.46 during the same quarter last year, which indicates a positive year-over-year growth rate of 2.2%. The business is expected to issue its next quarterly earnings results on Wednesday, July 28th.

On average, analysts expect that First Industrial Realty Trust will report full-year earnings of $1.91 per share for the current year, with EPS estimates ranging from $1.90 to $1.92. For the next financial year, analysts expect that the company will report earnings of $2.04 per share, with EPS estimates ranging from $2.02 to $2.08. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for First Industrial Realty Trust.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Tuesday, April 20th. The real estate investment trust reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $116.50 million during the quarter, compared to the consensus estimate of $112.68 million. First Industrial Realty Trust had a return on equity of 11.43% and a net margin of 47.92%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 earnings per share.

Several research firms have issued reports on FR. The Goldman Sachs Group raised First Industrial Realty Trust from a “sell” rating to a “neutral” rating and upped their price target for the company from $44.00 to $46.00 in a report on Thursday, March 25th. Zacks Investment Research cut First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, April 23rd. Royal Bank of Canada upped their price target on First Industrial Realty Trust from $51.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, June 1st. Scotiabank raised First Industrial Realty Trust from a “sector underperform” rating to a “sector perform” rating and upped their price target for the company from $41.00 to $52.00 in a report on Tuesday, May 25th. Finally, Mizuho upped their price target on First Industrial Realty Trust from $48.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, April 21st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $47.64.

FR traded down $0.27 during trading on Friday, reaching $53.52. The stock had a trading volume of 9,769 shares, compared to its average volume of 1,035,540. The stock has a market cap of $6.91 billion, a price-to-earnings ratio of 31.65 and a beta of 0.86. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust has a 1-year low of $36.11 and a 1-year high of $53.92. The stock has a 50 day simple moving average of $49.52.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 19th. Shareholders of record on Wednesday, June 30th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.02%. The ex-dividend date is Tuesday, June 29th. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 58.70%.

In other news, CFO Scott A. Musil sold 10,800 shares of the business’s stock in a transaction on Monday, April 26th. The shares were sold at an average price of $49.24, for a total transaction of $531,792.00. Following the transaction, the chief financial officer now directly owns 92,528 shares in the company, valued at approximately $4,556,078.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CIO Johannson L. Yap sold 15,000 shares of the business’s stock in a transaction on Monday, April 26th. The shares were sold at an average price of $49.26, for a total transaction of $738,900.00. Following the transaction, the executive now owns 215,979 shares in the company, valued at $10,639,125.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,800 shares of company stock worth $2,017,992. Company insiders own 0.79% of the company’s stock.

Large investors have recently modified their holdings of the stock. Credit Suisse AG boosted its holdings in First Industrial Realty Trust by 13.3% in the fourth quarter. Credit Suisse AG now owns 241,013 shares of the real estate investment trust’s stock worth $10,154,000 after purchasing an additional 28,278 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in First Industrial Realty Trust in the fourth quarter worth $6,099,000. Heitman Real Estate Securities LLC boosted its holdings in First Industrial Realty Trust by 3.9% in the fourth quarter. Heitman Real Estate Securities LLC now owns 1,275,136 shares of the real estate investment trust’s stock worth $53,721,000 after purchasing an additional 48,005 shares in the last quarter. Cetera Advisor Networks LLC boosted its holdings in First Industrial Realty Trust by 13.1% in the fourth quarter. Cetera Advisor Networks LLC now owns 9,776 shares of the real estate investment trust’s stock worth $412,000 after purchasing an additional 1,130 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in First Industrial Realty Trust by 2.5% in the first quarter. Swiss National Bank now owns 294,900 shares of the real estate investment trust’s stock worth $13,503,000 after purchasing an additional 7,300 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

First Industrial Realty Trust Company Profile

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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