First Industrial Realty Trust, Inc. (NYSE:FR) – Stock analysts at Jefferies Group boosted their FY2017 earnings per share estimates for shares of First Industrial Realty Trust in a report issued on Wednesday. Jefferies Group analyst J. Petersen now anticipates that the real estate investment trust will post earnings of $1.54 per share for the year, up from their previous estimate of $1.53. Jefferies Group currently has a “Hold” rating and a $32.00 target price on the stock.

A number of other brokerages have also recently commented on FR. BidaskClub cut shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Tuesday, May 2nd. Stifel Nicolaus increased their price target on shares of First Industrial Realty Trust from $30.00 to $31.50 and gave the company a “buy” rating in a research report on Wednesday, June 14th. Finally, KeyCorp reiterated a “hold” rating on shares of First Industrial Realty Trust in a research report on Friday, August 25th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $30.60.

TRADEMARK VIOLATION WARNING: “Jefferies Group Analysts Lift Earnings Estimates for First Industrial Realty Trust, Inc. (FR)” was first published by Watch List News and is owned by of Watch List News. If you are reading this story on another website, it was illegally stolen and reposted in violation of US and international copyright legislation. The correct version of this story can be accessed at https://www.watchlistnews.com/jefferies-group-analysts-lift-earnings-estimates-for-first-industrial-realty-trust-inc-fr/1530969.html.

First Industrial Realty Trust (NYSE FR) opened at 30.34 on Monday. First Industrial Realty Trust has a 12 month low of $24.85 and a 12 month high of $31.14. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 30.90 and a beta of 1.00. The stock’s 50 day moving average is $29.88 and its 200-day moving average is $28.30.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $97.60 million for the quarter, compared to analyst estimates of $97.62 million. During the same period in the prior year, the business earned $0.36 earnings per share. First Industrial Realty Trust’s quarterly revenue was up 4.9% on a year-over-year basis.

Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC purchased a new position in shares of First Industrial Realty Trust during the fourth quarter valued at about $236,000. Capstone Asset Management Co. boosted its position in shares of First Industrial Realty Trust by 2.0% in the first quarter. Capstone Asset Management Co. now owns 12,502 shares of the real estate investment trust’s stock valued at $333,000 after buying an additional 250 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of First Industrial Realty Trust by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 29,600 shares of the real estate investment trust’s stock valued at $788,000 after buying an additional 700 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of First Industrial Realty Trust by 0.3% in the first quarter. Retirement Systems of Alabama now owns 151,402 shares of the real estate investment trust’s stock valued at $4,032,000 after buying an additional 420 shares in the last quarter. Finally, Glen Harbor Capital Management LLC boosted its position in shares of First Industrial Realty Trust by 10.0% in the first quarter. Glen Harbor Capital Management LLC now owns 4,356 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 396 shares in the last quarter. Hedge funds and other institutional investors own 92.39% of the company’s stock.

In other news, Director Bruce W. Duncan sold 15,146 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $28.68, for a total value of $434,387.28. Following the transaction, the director now owns 949,531 shares in the company, valued at $27,232,549.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Harker sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $30.45, for a total transaction of $609,000.00. Following the completion of the transaction, the executive vice president now owns 118,470 shares in the company, valued at approximately $3,607,411.50. The disclosure for this sale can be found here. Insiders 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.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Thursday, September 28th. First Industrial Realty Trust’s payout ratio is currently 85.71%.

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.

Earnings History and Estimates for First Industrial Realty Trust (NYSE:FR)

Receive News & Ratings for First Industrial Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Industrial Realty Trust Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.