First Industrial Realty Trust (FR) Getting Somewhat Favorable Press Coverage, Study Shows
News articles about First Industrial Realty Trust (NYSE:FR) have been trending somewhat positive recently, according to Accern. The research firm identifies positive and negative press coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. First Industrial Realty Trust earned a media sentiment score of 0.15 on Accern’s scale. Accern also assigned media headlines about the real estate investment trust an impact score of 45.7465170709584 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the news stories that may have impacted Accern Sentiment’s rankings:
- IBD Rating Upgrades: First Industrial Realty Trust Shows Improved Relative Price Strength (investors.com)
- First Industrial Realty Trust, Inc. (NYSE:FR) Given Consensus Recommendation of “Hold” by Brokerages (americanbankingnews.com)
- Head to Head Review: First Industrial Realty Trust (NYSE:FR) & Rexford Industrial Realty (REXR) (americanbankingnews.com)
- Eii Capital Management, Inc. Sells A Little More First Industrial Realty Trust, (FR) Stock Last Quarter (highlightpress.com)
- Head to Head Comparison: First Industrial Realty Trust (FR) & Rexford Industrial Realty (REXR) (americanbankingnews.com)
Several equities analysts have commented on FR shares. Stifel Nicolaus reiterated a “buy” rating and set a $31.50 price target on shares of First Industrial Realty Trust in a report on Friday, July 14th. Jefferies Group LLC restated a “hold” rating and issued a $29.00 price objective on shares of First Industrial Realty Trust in a research note on Monday, April 24th. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Finally, BidaskClub upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $30.20.
First Industrial Realty Trust (NYSE FR) opened at 29.51 on Friday. First Industrial Realty Trust has a 12 month low of $24.85 and a 12 month high of $31.14. The company has a 50-day moving average price of $29.44 and a 200 day moving average price of $28.02. The company has a market capitalization of $3.54 billion, a PE ratio of 30.05 and a beta of 1.00.
First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.18. The business had revenue of $97.60 million for the quarter, compared to analyst estimates of $97.62 million. First Industrial Realty Trust had a return on equity of 8.88% and a net margin of 29.91%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 EPS. On average, equities research analysts forecast that First Industrial Realty Trust will post $0.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Thursday, September 28th. First Industrial Realty Trust’s payout ratio is presently 85.71%.
In other First Industrial Realty Trust news, EVP Peter Schultz sold 12,132 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $30.43, for a total value of $369,176.76. Following the transaction, the executive vice president now directly owns 109,399 shares of the company’s stock, valued at approximately $3,329,011.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Scott A. Musil sold 20,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $30.22, for a total value of $604,400.00. Following the completion of the transaction, the chief financial officer now directly owns 107,273 shares in the company, valued at $3,241,790.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,424 shares of company stock worth $1,864,616. Insiders own 1.83% of the company’s stock.
First Industrial Realty Trust Company Profile
First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.
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