Zacks: Brokerages Expect First Industrial Realty Trust, Inc. (FR) Will Announce Quarterly Sales of $99.85 Million

Equities research analysts forecast that First Industrial Realty Trust, Inc. (NYSE:FR) will announce sales of $99.85 million for the current quarter, according to Zacks. Seven analysts have provided estimates for First Industrial Realty Trust’s earnings, with the highest sales estimate coming in at $101.49 million and the lowest estimate coming in at $98.11 million. First Industrial Realty Trust posted sales of $97.98 million during the same quarter last year, which suggests a positive year-over-year growth rate of 1.9%. The company is expected to issue its next earnings report after the market closes on Wednesday, February 21st.

On average, analysts expect that First Industrial Realty Trust will report full-year sales of $99.85 million for the current fiscal year, with estimates ranging from $389.60 million to $395.76 million. For the next fiscal year, analysts forecast that the company will post sales of $405.72 million per share, with estimates ranging from $400.60 million to $409.82 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover First Industrial Realty Trust.

A number of analysts have recently weighed in on the stock. Robert W. Baird restated a “hold” rating and issued a $31.00 target price on shares of First Industrial Realty Trust in a report on Tuesday, January 9th. Jefferies Group upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. ValuEngine downgraded shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. JPMorgan Chase & Co. downgraded shares of First Industrial Realty Trust from a “neutral” rating to an “underweight” rating and set a $31.00 price target on the stock. in a report on Friday, December 15th. Finally, SunTrust Banks reiterated a “buy” rating and set a $34.00 price target on shares of First Industrial Realty Trust in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $32.29.

Shares of First Industrial Realty Trust (NYSE FR) opened at $28.54 on Friday. First Industrial Realty Trust has a fifty-two week low of $25.56 and a fifty-two week high of $32.91. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. The firm has a market cap of $3,325.75, a PE ratio of 26.67 and a beta of 0.89.

In related news, Director Bruce W. Duncan sold 16,854 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $32.42, for a total transaction of $546,406.68. Following the transaction, the director now directly owns 866,966 shares in the company, valued at approximately $28,107,037.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.71% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in FR. New York State Common Retirement Fund boosted its position in First Industrial Realty Trust by 2.8% in the 2nd quarter. New York State Common Retirement Fund now owns 141,320 shares of the real estate investment trust’s stock valued at $4,045,000 after buying an additional 3,899 shares during the period. California Public Employees Retirement System boosted its position in First Industrial Realty Trust by 4.8% in the 2nd quarter. California Public Employees Retirement System now owns 200,444 shares of the real estate investment trust’s stock valued at $5,737,000 after buying an additional 9,100 shares during the period. Parametric Portfolio Associates LLC boosted its position in First Industrial Realty Trust by 4.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 249,139 shares of the real estate investment trust’s stock valued at $7,130,000 after buying an additional 10,709 shares during the period. Renaissance Technologies LLC boosted its position in First Industrial Realty Trust by 1,008.5% in the 2nd quarter. Renaissance Technologies LLC now owns 588,800 shares of the real estate investment trust’s stock valued at $16,851,000 after buying an additional 535,685 shares during the period. Finally, Virtu KCG Holdings LLC boosted its position in First Industrial Realty Trust by 15.8% in the 2nd quarter. Virtu KCG Holdings LLC now owns 10,323 shares of the real estate investment trust’s stock valued at $295,000 after buying an additional 1,405 shares during the period. 93.15% of the stock is owned by institutional investors.

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

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