Zacks: Brokerages Anticipate First Industrial Realty Trust, Inc. (FR) to Post $0.39 EPS

Equities research analysts expect First Industrial Realty Trust, Inc. (NYSE:FR) to announce earnings per share of $0.39 for the current quarter, Zacks reports. Six analysts have made estimates for First Industrial Realty Trust’s earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.39. First Industrial Realty Trust reported earnings per share of $0.27 in the same quarter last year, which would indicate a positive year-over-year growth rate of 44.4%. The business is expected to announce its next earnings results on Thursday, October 26th.

On average, analysts expect that First Industrial Realty Trust will report full year earnings of $1.54 per share for the current fiscal year, with EPS estimates ranging from $1.52 to $1.56. For the next financial year, analysts forecast that the business will report earnings of $1.63 per share, with EPS estimates ranging from $1.61 to $1.68. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for First Industrial Realty Trust.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.18. First Industrial Realty Trust had a net margin of 29.91% and a return on equity of 8.88%. The business had revenue of $97.60 million for the quarter, compared to analyst estimates of $97.62 million. During the same period last year, the business posted $0.36 EPS. First Industrial Realty Trust’s revenue was up 4.9% compared to the same quarter last year.

Several research firms have commented on FR. KeyCorp reiterated a “hold” rating on shares of First Industrial Realty Trust in a report on Friday, August 25th. Jefferies Group LLC reiterated a “hold” rating and issued a $32.00 price objective (up from $30.00) on shares of First Industrial Realty Trust in a report on Thursday, August 24th. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Stifel Nicolaus reiterated a “buy” rating and issued a $33.00 price objective on shares of First Industrial Realty Trust in a report on Friday, July 28th. Finally, BidaskClub upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. First Industrial Realty Trust currently has an average rating of “Hold” and an average target price of $30.60.

Shares of First Industrial Realty Trust (FR) opened at 31.48 on Wednesday. The firm has a 50-day moving average of $30.65 and a 200-day moving average of $28.86. The company has a market capitalization of $3.77 billion, a P/E ratio of 32.06 and a beta of 1.00. First Industrial Realty Trust has a one year low of $24.85 and a one year high of $31.83.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a $0.21 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.67%. First Industrial Realty Trust’s payout ratio is presently 85.71%.

In related news, CFO Scott A. Musil sold 20,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $30.22, for a total transaction of $604,400.00. Following the completion of the sale, the chief financial officer now owns 107,273 shares of the company’s stock, valued at $3,241,790.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce W. Duncan sold 15,146 shares of the company’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $28.68, for a total transaction of $434,387.28. Following the sale, the director now directly owns 949,531 shares of the company’s stock, valued at approximately $27,232,549.08. The disclosure for this sale can be found here. In the last three months, insiders sold 99,279 shares of company stock valued at $3,004,548. 1.83% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of FR. IFP Advisors Inc lifted its position in First Industrial Realty Trust by 5.2% during the second quarter. IFP Advisors Inc now owns 3,823 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 190 shares during the period. First Mercantile Trust Co. lifted its position in First Industrial Realty Trust by 1.8% during the second quarter. First Mercantile Trust Co. now owns 4,070 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 70 shares during the period. Riverhead Capital Management LLC lifted its position in First Industrial Realty Trust by 77.8% during the second quarter. Riverhead Capital Management LLC now owns 6,224 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 2,724 shares during the period. Meadow Creek Investment Management LLC lifted its position in First Industrial Realty Trust by 10.0% during the first quarter. Meadow Creek Investment Management LLC now owns 6,732 shares of the real estate investment trust’s stock worth $179,000 after purchasing an additional 612 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in First Industrial Realty Trust by 4.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,342 shares of the real estate investment trust’s stock worth $196,000 after purchasing an additional 327 shares during the period. 92.07% of the stock is owned by institutional investors and hedge funds.

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First Industrial Realty Trust Company Profile

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

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