First Industrial Realty Trust (NYSE:FR) Issues FY 2024 Earnings Guidance

First Industrial Realty Trust (NYSE:FR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.610-2.650 for the period, compared to the consensus estimate of 2.620. The company issued revenue guidance of -. First Industrial Realty Trust also updated its FY24 guidance to $2.61-2.65 EPS.

Analyst Ratings Changes

FR has been the topic of several research analyst reports. Barclays raised their target price on shares of First Industrial Realty Trust from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Wolfe Research upgraded First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a report on Tuesday, August 13th. The Goldman Sachs Group lifted their target price on First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a report on Friday, July 26th. Scotiabank upped their price target on First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. raised their price objective on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, First Industrial Realty Trust has an average rating of “Moderate Buy” and an average target price of $57.92.

First Industrial Realty Trust Stock Up 1.0 %

NYSE FR opened at $55.25 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.83. First Industrial Realty Trust has a fifty-two week low of $40.44 and a fifty-two week high of $57.35. The business has a 50 day moving average price of $55.45 and a two-hundred day moving average price of $51.23. The stock has a market cap of $7.31 billion, a PE ratio of 25.46 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The business had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. During the same period last year, the business earned $0.62 EPS. The business’s revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts predict that First Industrial Realty Trust will post 2.62 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Monday, September 30th. First Industrial Realty Trust’s payout ratio is 68.20%.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.