First Industrial Realty Trust (NYSE:FR) Posts Earnings Results, Misses Expectations By $0.01 EPS

First Industrial Realty Trust (NYSE:FR) issued its earnings results on Wednesday. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01), Briefing.com reports. First Industrial Realty Trust had a return on equity of 12.99% and a net margin of 47.97%. The firm had revenue of $197.12 million during the quarter, compared to the consensus estimate of $196.41 million. During the same quarter in the prior year, the business posted $0.76 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis.

First Industrial Realty Trust Stock Performance

Shares of First Industrial Realty Trust stock opened at $59.48 on Thursday. First Industrial Realty Trust has a 12 month low of $54.23 and a 12 month high of $69.88. The firm has a market capitalization of $7.89 billion, a P/E ratio of 21.71 and a beta of 1.03. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.89. The business has a fifty day simple moving average of $61.09 and a two-hundred day simple moving average of $62.37.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 19th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.4%. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 72.99%.

Wall Street Analysts Forecast Growth

FR has been the subject of several analyst reports. Scotiabank increased their price target on shares of First Industrial Realty Trust from $63.00 to $66.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 12th. Weiss Ratings lowered shares of First Industrial Realty Trust from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, September 8th. Cantor Fitzgerald restated a “neutral” rating and set a $71.00 price target on shares of First Industrial Realty Trust in a report on Monday, July 27th. Royal Bank Of Canada boosted their price target on First Industrial Realty Trust from $68.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Finally, Barclays upped their price target on First Industrial Realty Trust from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.08.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a real estate investment trust focused on the ownership, management, acquisition, development and redevelopment of industrial properties in the United States. Its portfolio primarily serves businesses that require space for distribution, warehousing, manufacturing, light industrial operations and other logistics-related activities.

The company leases its properties to a diverse group of tenants, including retailers, manufacturers, logistics providers and third-party distribution companies.