First Industrial Realty Trust (NYSE:FR) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

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

First Industrial Realty Trust Price Performance

FR traded up $0.29 during trading on Wednesday, hitting $59.48. The company’s stock had a trading volume of 1,296,135 shares, compared to its average volume of 1,062,595. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $7.89 billion, a price-to-earnings ratio of 21.71 and a beta of 1.03. The firm’s 50 day moving average price is $61.09 and its two-hundred day moving average price is $62.37. First Industrial Realty Trust has a 12 month low of $54.23 and a 12 month high of $69.88.

First Industrial Realty Trust Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Weiss Ratings lowered shares of First Industrial Realty Trust from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 8th. Royal Bank Of Canada upped 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 increased their price target on shares of First Industrial Realty Trust from $63.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Wells Fargo & Company increased their price target on shares of First Industrial Realty Trust from $61.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 1st. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $71.00 price target on shares of First Industrial Realty Trust in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus 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.