First Industrial Realty Trust (NYSE:FR) Issues Quarterly Earnings Results

First Industrial Realty Trust (NYSE:FR) released its quarterly earnings data on Wednesday. The real estate investment trust reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01), Briefing.com reports. First Industrial Realty Trust had a return on equity of 12.99% and a net margin of 47.97%. The firm had revenue of $197.12 million during the quarter, compared to analysts’ expectations of $196.41 million. During the same quarter last year, the business earned $0.76 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year.

First Industrial Realty Trust Trading Up 0.5%

FR opened at $59.48 on Thursday. The stock has a market capitalization of $7.89 billion, a PE ratio of 21.71 and a beta of 1.03. The firm’s fifty day moving average price is $61.09 and its 200 day moving average price is $62.37. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 1.44. First Industrial Realty Trust has a 12-month low of $54.23 and a 12-month high of $69.88.

First Industrial Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 19th. Investors of record on Wednesday, September 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Wednesday, September 30th. First Industrial Realty Trust’s payout ratio is 72.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $71.00 price target on shares of First Industrial Realty Trust in a research report on Monday, July 27th. Scotiabank increased their price objective on shares of First Industrial Realty Trust from $63.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 12th. Royal Bank Of Canada raised their target price on shares of First Industrial Realty Trust from $68.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Citigroup lifted their target price on shares of First Industrial Realty Trust from $63.00 to $72.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Finally, Wells Fargo & Company lifted their target price on shares of First Industrial Realty Trust from $61.00 to $66.00 and gave the company an “equal weight” rating in a report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.08.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a real estate investment trust focused on the ownership, management, acquisition, development and redevelopment of industrial properties in the United States. Its portfolio primarily serves businesses that require space for distribution, warehousing, manufacturing, light industrial operations and other logistics-related activities.

The company leases its properties to a diverse group of tenants, including retailers, manufacturers, logistics providers and third-party distribution companies.