First Industrial Realty Trust, Inc. (NYSE:FR) – Equities research analysts at Jefferies Group issued their Q1 2018 earnings estimates for First Industrial Realty Trust in a note issued to investors on Tuesday, according to Zacks Investment Research. Jefferies Group analyst J. Petersen anticipates that the real estate investment trust will post earnings of $0.38 per share for the quarter. Jefferies Group has a “Buy” rating and a $39.00 price target on the stock. Jefferies Group also issued estimates for First Industrial Realty Trust’s Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.42 EPS, Q4 2018 earnings at $0.42 EPS, FY2018 earnings at $1.63 EPS, Q1 2019 earnings at $0.43 EPS, Q2 2019 earnings at $0.45 EPS, Q3 2019 earnings at $0.45 EPS, Q4 2019 earnings at $0.46 EPS and FY2019 earnings at $1.80 EPS.
First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. The firm had revenue of $102.31 million for the quarter, compared to analysts’ expectations of $100.11 million. First Industrial Realty Trust had a return on equity of 14.57% and a net margin of 50.82%. First Industrial Realty Trust’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS.
Other equities analysts have also recently issued research reports about the company. ValuEngine raised First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, November 15th. SunTrust Banks set a $32.00 price target on First Industrial Realty Trust and gave the stock a “buy” rating in a research note on Friday, March 2nd. Stifel Nicolaus dropped their price target on First Industrial Realty Trust from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Robert W. Baird reissued a “hold” rating and issued a $31.00 price target on shares of First Industrial Realty Trust in a research note on Tuesday, January 9th. Finally, Zacks Investment Research cut First Industrial Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $32.43.
Shares of First Industrial Realty Trust (FR) traded up $0.15 on Wednesday, reaching $29.62. The company had a trading volume of 532,538 shares, compared to its average volume of 906,137. The stock has a market cap of $3,553.35, a PE ratio of 17.63 and a beta of 0.96. First Industrial Realty Trust has a 1 year low of $25.81 and a 1 year high of $32.91. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.07 and a quick ratio of 1.07.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be given a dividend of $0.218 per share. The ex-dividend date is Wednesday, March 28th. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.21. This represents a $0.87 dividend on an annualized basis and a yield of 2.94%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 50.00%.
In other First Industrial Realty Trust news, CIO Johannson L. Yap sold 6,600 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $28.54, for a total transaction of $188,364.00. Following the completion of the sale, the executive now directly owns 292,033 shares in the company, valued at approximately $8,334,621.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.71% of the company’s stock.
Several institutional investors have recently made changes to their positions in FR. Aperio Group LLC lifted its holdings in shares of First Industrial Realty Trust by 11.0% during the 3rd quarter. Aperio Group LLC now owns 44,076 shares of the real estate investment trust’s stock valued at $1,326,000 after buying an additional 4,364 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of First Industrial Realty Trust during the 3rd quarter valued at about $213,000. Crossmark Global Holdings Inc. acquired a new stake in shares of First Industrial Realty Trust during the 3rd quarter valued at about $396,000. Oregon Public Employees Retirement Fund raised its stake in shares of First Industrial Realty Trust by 4.2% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 44,533 shares of the real estate investment trust’s stock valued at $1,340,000 after acquiring an additional 1,791 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of First Industrial Realty Trust by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 4,449,105 shares of the real estate investment trust’s stock valued at $133,874,000 after acquiring an additional 150,162 shares in the last quarter. Institutional investors and hedge funds own 94.10% 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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