First Industrial Realty Trust (FR) Receives Daily Coverage Optimism Rating of 0.24
News headlines about First Industrial Realty Trust (NYSE:FR) have trended somewhat positive this week, according to Accern Sentiment Analysis. The research firm identifies positive and negative media coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. First Industrial Realty Trust earned a news sentiment score of 0.24 on Accern’s scale. Accern also assigned media headlines about the real estate investment trust an impact score of 45.8319502341683 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the news stories that may have impacted Accern’s scoring:
- Jefferies Group Analysts Lift Earnings Estimates for First Industrial Realty Trust, Inc. (FR) (americanbankingnews.com)
- Jefferies Group LLC Reiterates “Hold” Rating for First Industrial Realty Trust, Inc. (FR) (americanbankingnews.com)
- First Industrial Realty Trust, Inc. (FR) Rating Reiterated by KeyCorp (americanbankingnews.com)
- Head-To-Head Review: First Industrial Realty Trust (FR) & Stag Industrial (STAG) (americanbankingnews.com)
- First Industrial Realty Trust, (FR) Position Increased by Vanguard Group Inc (highlightpress.com)
Several brokerages have recently issued reports on FR. KeyCorp restated a “hold” rating on shares of First Industrial Realty Trust in a report on Friday. Jefferies Group LLC restated a “hold” rating and issued a $32.00 target price (up previously from $30.00) on shares of First Industrial Realty Trust in a report on Thursday, August 24th. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Stifel Nicolaus reiterated a “buy” rating and issued a $33.00 price target on shares of First Industrial Realty Trust in a research report on Friday, July 28th. Finally, BidaskClub upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $30.60.
Shares of First Industrial Realty Trust (FR) opened at 30.40 on Tuesday. First Industrial Realty Trust has a 52-week low of $24.85 and a 52-week high of $31.14. The company has a 50-day moving average of $29.88 and a 200 day moving average of $28.30. The stock has a market cap of $3.64 billion, a P/E ratio of 30.96 and a beta of 1.00.
First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate of $0.14 by $0.18. The company had revenue of $97.60 million for the quarter, compared to analysts’ expectations of $97.62 million. First Industrial Realty Trust had a return on equity of 8.88% and a net margin of 29.91%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. 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. Stockholders of record on Friday, September 29th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Thursday, September 28th. First Industrial Realty Trust’s payout ratio is presently 85.71%.
In other news, Director Bruce W. Duncan sold 15,146 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $28.68, for a total transaction of $434,387.28. Following the transaction, the director now owns 949,531 shares of the company’s stock, valued at $27,232,549.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the chief financial officer now directly owns 107,273 shares in the company, valued at approximately $3,241,790.06. The disclosure for this sale can be found here. Insiders have sold 82,424 shares of company stock worth $2,473,616 in the last 90 days. Company insiders own 1.83% of the company’s stock.
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About First Industrial Realty Trust
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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