Brokerages Anticipate First Industrial Realty Trust, Inc. (FR) to Announce $0.40 Earnings Per Share

Brokerages expect that First Industrial Realty Trust, Inc. (NYSE:FR) will report earnings of $0.40 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for First Industrial Realty Trust’s earnings, with the highest EPS estimate coming in at $0.41 and the lowest estimate coming in at $0.40. First Industrial Realty Trust posted earnings per share of $0.39 in the same quarter last year, which suggests a positive year-over-year growth rate of 2.6%. The company is scheduled to report its next earnings results on Wednesday, July 25th.

According to Zacks, analysts expect that First Industrial Realty Trust will report full year earnings of $1.61 per share for the current year, with EPS estimates ranging from $1.58 to $1.63. For the next year, analysts expect that the firm will report earnings of $1.70 per share, with EPS estimates ranging from $1.68 to $1.72. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for First Industrial Realty Trust.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Tuesday, April 24th. The real estate investment trust reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.17. The company had revenue of $99.77 million for the quarter, compared to analyst estimates of $98.86 million. First Industrial Realty Trust had a net margin of 53.92% and a return on equity of 15.01%. First Industrial Realty Trust’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 earnings per share.

A number of brokerages have recently issued reports on FR. SunTrust Banks set a $32.00 price target on shares of First Industrial Realty Trust and gave the stock a “buy” rating in a research note on Friday, March 2nd. Mizuho upgraded shares of First Industrial Realty Trust from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Monday, May 7th. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, April 27th. Finally, ValuEngine upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research note on Friday, April 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $32.86.

In other First Industrial Realty Trust news, insider Johannson L. Yap sold 19,156 shares of the company’s stock in a transaction dated Friday, April 27th. The shares were sold at an average price of $30.24, for a total transaction of $579,277.44. Following the transaction, the insider now directly owns 272,877 shares in the company, valued at $8,251,800.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott A. Musil sold 16,300 shares of the company’s stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $30.31, for a total transaction of $494,053.00. Following the transaction, the chief financial officer now owns 108,672 shares in the company, valued at $3,293,848.32. The disclosure for this sale can be found here. Insiders have sold 202,240 shares of company stock worth $6,492,222 over the last 90 days. 1.71% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of FR. Mount Yale Investment Advisors LLC acquired a new position in First Industrial Realty Trust during the first quarter worth about $146,000. Raymond James & Associates acquired a new position in First Industrial Realty Trust during the fourth quarter worth about $211,000. Zeke Capital Advisors LLC acquired a new position in First Industrial Realty Trust during the fourth quarter worth about $213,000. Vident Investment Advisory LLC acquired a new position in First Industrial Realty Trust during the fourth quarter worth about $236,000. Finally, OppenheimerFunds Inc. acquired a new position in First Industrial Realty Trust during the fourth quarter worth about $246,000. Institutional investors own 90.80% of the company’s stock.

NYSE FR traded down $0.07 during trading on Monday, reaching $33.34. The company’s stock had a trading volume of 1,352,235 shares, compared to its average volume of 957,378. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $4.19 billion, a PE ratio of 21.24 and a beta of 0.90. First Industrial Realty Trust has a twelve month low of $27.61 and a twelve month high of $33.75.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 29th will be given a dividend of $0.218 per share. The ex-dividend date is Thursday, June 28th. This represents a $0.87 annualized dividend and a yield of 2.62%. First Industrial Realty Trust’s payout ratio is currently 55.41%.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

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

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