First Industrial Realty Trust, Inc. (NYSE:FR) Expected to Announce Earnings of $0.47 Per Share

Wall Street brokerages expect First Industrial Realty Trust, Inc. (NYSE:FR) to post earnings of $0.47 per share for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for First Industrial Realty Trust’s earnings, with the lowest EPS estimate coming in at $0.46 and the highest estimate coming in at $0.47. First Industrial Realty Trust posted earnings per share of $0.46 during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.2%. The company is expected to announce its next earnings report on Wednesday, July 28th.

According to Zacks, analysts expect that First Industrial Realty Trust will report full year earnings of $1.91 per share for the current fiscal year, with EPS estimates ranging from $1.90 to $1.92. For the next financial year, analysts expect that the business will post earnings of $2.04 per share, with EPS estimates ranging from $2.02 to $2.08. Zacks Investment Research’s EPS averages are an 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 results on Tuesday, April 20th. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The business had revenue of $116.50 million during the quarter, compared to the consensus estimate of $112.68 million. First Industrial Realty Trust had a return on equity of 11.43% and a net margin of 47.92%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 EPS.

FR has been the subject of a number of research reports. Zacks Investment Research downgraded First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Friday, April 23rd. The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and increased their target price for the company from $44.00 to $46.00 in a research report on Thursday, March 25th. Scotiabank upgraded First Industrial Realty Trust from a “sector underperform” rating to a “sector perform” rating and increased their target price for the company from $41.00 to $52.00 in a research report on Tuesday, May 25th. Mizuho increased their price target on First Industrial Realty Trust from $48.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, April 21st. Finally, Royal Bank of Canada increased their price target on First Industrial Realty Trust from $51.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, June 1st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $47.64.

In other First Industrial Realty Trust news, EVP Peter Schultz sold 15,000 shares of the stock in a transaction on Friday, April 30th. The stock was sold at an average price of $49.82, for a total value of $747,300.00. Following the sale, the executive vice president now owns 96,424 shares in the company, valued at $4,803,843.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Scott A. Musil sold 10,800 shares of the stock in a transaction on Monday, April 26th. The stock was sold at an average price of $49.24, for a total value of $531,792.00. Following the completion of the sale, the chief financial officer now owns 92,528 shares in the company, valued at approximately $4,556,078.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,800 shares of company stock worth $2,017,992. Insiders own 0.79% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in FR. Fieldpoint Private Securities LLC purchased a new position in shares of First Industrial Realty Trust during the fourth quarter valued at $25,000. Neo Ivy Capital Management purchased a new position in shares of First Industrial Realty Trust during the fourth quarter valued at $25,000. Perigon Wealth Management LLC purchased a new position in shares of First Industrial Realty Trust during the fourth quarter valued at $41,000. Bessemer Group Inc. increased its stake in shares of First Industrial Realty Trust by 145.1% during the fourth quarter. Bessemer Group Inc. now owns 1,049 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 621 shares during the period. Finally, Berman Capital Advisors LLC increased its stake in shares of First Industrial Realty Trust by 135.5% during the first quarter. Berman Capital Advisors LLC now owns 1,267 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 729 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Shares of NYSE FR traded down $0.27 during midday trading on Friday, reaching $53.52. 9,769 shares of the stock traded hands, compared to its average volume of 1,035,540. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $6.91 billion, a PE ratio of 31.65 and a beta of 0.86. First Industrial Realty Trust has a one year low of $36.11 and a one year high of $53.92. The stock has a 50 day moving average of $49.52.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 19th. Shareholders of record on Wednesday, June 30th will be paid a $0.27 dividend. The ex-dividend date is Tuesday, June 29th. This represents a $1.08 dividend on an annualized basis and a yield of 2.02%. First Industrial Realty Trust’s payout ratio is 58.70%.

First Industrial Realty Trust Company Profile

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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