First Industrial Realty Trust, Inc. (FR) to Release Earnings on Wednesday
First Industrial Realty Trust, Inc. (NYSE:FR) is scheduled to post its quarterly earnings results after the market closes on Wednesday, October 25th. Analysts expect First Industrial Realty Trust to post earnings of $0.17 per share for the quarter. First Industrial Realty Trust has set its FY17 guidance at $1.51-1.59 EPS.
First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.18. First Industrial Realty Trust had a net margin of 29.91% and a return on equity of 8.88%. The business had revenue of $97.60 million during the quarter, compared to analyst estimates of $97.62 million. During the same period last year, the business posted $0.36 earnings per share. First Industrial Realty Trust’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, analysts expect First Industrial Realty Trust to post $1.54 EPS for the current fiscal year and $1.63 EPS for the next fiscal year.
Shares of First Industrial Realty Trust, Inc. (NYSE:FR) opened at 30.94 on Wednesday. First Industrial Realty Trust, Inc. has a one year low of $24.85 and a one year high of $31.83. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 31.51 and a beta of 1.00. The firm has a 50-day moving average of $30.92 and a 200 day moving average of $29.44.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.84 annualized dividend and a dividend yield of 2.71%. First Industrial Realty Trust’s payout ratio is presently 85.71%.
Several equities research analysts have recently weighed in on the stock. Janney Montgomery Scott assumed coverage on shares of First Industrial Realty Trust in a research report on Friday, September 29th. They issued a “buy” rating and a $34.00 price target for the company. Jefferies Group LLC reaffirmed a “neutral” rating on shares of First Industrial Realty Trust in a research report on Tuesday, September 26th. KeyCorp reaffirmed a “hold” rating on shares of First Industrial Realty Trust in a research report on Friday, August 25th. Zacks Investment Research raised shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Stifel Nicolaus reaffirmed 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. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $31.00.
In related news, Director Bruce W. Duncan sold 16,855 shares of the stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $30.85, for a total transaction of $519,976.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Harker sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $30.45, for a total transaction of $609,000.00. Following the sale, the executive vice president now directly owns 118,470 shares of the company’s stock, valued at approximately $3,607,411.50. The disclosure for this sale can be found here. Insiders have sold 100,988 shares of company stock valued at $3,090,138 in the last three months. 1.71% of the stock is currently owned by corporate insiders.
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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