Brokerages expect that First Industrial Realty Trust, Inc. (NYSE:FR) will announce earnings of $0.39 per share 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 of $0.27 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 44.4%. The business is expected to report its next quarterly 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 year, with EPS estimates ranging from $1.52 to $1.56. For the next year, analysts forecast that the business will post earnings of $1.63 per share, with EPS estimates ranging from $1.61 to $1.68. Zacks’ EPS averages are an average based on a survey of research analysts that cover First Industrial Realty Trust.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $97.62 million. During the same period last year, the business posted $0.36 earnings per share. First Industrial Realty Trust’s quarterly revenue was up 4.9% compared to the same quarter last year.

FR has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on shares of First Industrial Realty Trust from $30.00 to $31.50 and gave the stock a “buy” rating in a research note on Wednesday, June 14th. BidaskClub upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. KeyCorp restated a “hold” rating on shares of First Industrial Realty Trust in a research note on Friday, August 25th. Jefferies Group LLC restated a “hold” rating and issued a $32.00 target price (up from $30.00) on shares of First Industrial Realty Trust in a research note on Thursday, August 24th. Finally, Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. First Industrial Realty Trust presently has an average rating of “Hold” and a consensus target price of $30.60.

In other news, CFO Scott A. Musil sold 20,000 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $30.22, for a total transaction of $604,400.00. Following the transaction, the chief financial officer now directly owns 107,273 shares in the company, valued at $3,241,790.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Peter Schultz sold 12,132 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $30.43, for a total transaction of $369,176.76. Following the transaction, the executive vice president now owns 109,399 shares in the company, valued at $3,329,011.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,279 shares of company stock worth $3,004,548. Insiders own 1.83% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Phocas Financial Corp. boosted its stake in shares of First Industrial Realty Trust by 3.5% during the second quarter. Phocas Financial Corp. now owns 34,336 shares of the real estate investment trust’s stock valued at $983,000 after purchasing an additional 1,177 shares in the last quarter. 1st Global Advisors Inc. boosted its stake in shares of First Industrial Realty Trust by 3.4% during the second quarter. 1st Global Advisors Inc. now owns 45,248 shares of the real estate investment trust’s stock valued at $1,295,000 after purchasing an additional 1,479 shares in the last quarter. Verition Fund Management LLC boosted its stake in shares of First Industrial Realty Trust by 6.0% during the second quarter. Verition Fund Management LLC now owns 25,557 shares of the real estate investment trust’s stock valued at $731,000 after purchasing an additional 1,449 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of First Industrial Realty Trust by 1.2% during the second quarter. Ameritas Investment Partners Inc. now owns 45,128 shares of the real estate investment trust’s stock valued at $1,292,000 after purchasing an additional 523 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new position in shares of First Industrial Realty Trust during the second quarter valued at approximately $1,175,000. Hedge funds and other institutional investors own 92.07% of the company’s stock.

Shares of First Industrial Realty Trust (NYSE:FR) traded down 1.31% during mid-day trading on Wednesday, reaching $30.84. 629,197 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $30.65 and a 200 day moving average price of $28.86. First Industrial Realty Trust has a 12-month low of $24.85 and a 12-month high of $31.83. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 31.41 and a beta of 1.00.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.21 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.84 dividend on an annualized basis and a yield of 2.72%. First Industrial Realty Trust’s dividend payout ratio is currently 85.71%.

COPYRIGHT VIOLATION WARNING: “Brokerages Expect First Industrial Realty Trust, Inc. (FR) to Announce $0.39 Earnings Per Share” was originally reported by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this piece of content can be viewed at https://www.dailypolitical.com/2017/09/23/brokerages-expect-first-industrial-realty-trust-inc-fr-to-announce-0-39-earnings-per-share.html.

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.

Get a free copy of the Zacks research report on First Industrial Realty Trust (FR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for First Industrial Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Industrial Realty Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.