First Industrial Realty Trust, Inc. (FR) Set to Announce Earnings on Wednesday
First Industrial Realty Trust, Inc. (NYSE:FR) will be releasing its earnings data after the market closes on Wednesday, October 25th. Analysts expect First Industrial Realty Trust to post earnings of $0.17 per share for the quarter. First Industrial Realty Trust has set its FY17 guidance at $1.51-1.59 EPS.
First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.18. The firm had revenue of $97.60 million during the quarter, compared to analyst estimates of $97.62 million. First Industrial Realty Trust had a net margin of 29.91% and a return on equity of 8.88%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 earnings per share. On average, analysts expect First Industrial Realty Trust to post $0.83 EPS for the current fiscal year and $0.67 EPS for the next fiscal year.
Shares of First Industrial Realty Trust, Inc. (FR) opened at 30.83 on Monday. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 31.40 and a beta of 1.00. First Industrial Realty Trust, Inc. has a 52 week low of $24.85 and a 52 week high of $31.83. The stock’s 50 day moving average is $30.97 and its 200-day moving average is $29.55.
The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Thursday, September 28th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 85.71%.
In related news, EVP Peter Schultz sold 12,132 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $30.43, for a total transaction of $369,176.76. Following the completion of the sale, the executive vice president now directly owns 109,399 shares of the company’s stock, valued at approximately $3,329,011.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott A. Musil sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $30.22, for a total value of $604,400.00. Following the sale, the chief financial officer now directly owns 107,273 shares of the company’s stock, valued at $3,241,790.06. The disclosure for this sale can be found here. Insiders have sold a total of 100,988 shares of company stock valued at $3,090,138 over the last three months. Corporate insiders own 1.71% of the company’s stock.
A number of analysts have issued reports on FR shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $33.00 target price on shares of First Industrial Realty Trust in a research note on Friday, July 28th. BidaskClub raised First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Janney Montgomery Scott started coverage on First Industrial Realty Trust in a research note on Friday, September 29th. They issued a “buy” rating and a $34.00 target price for the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $30.00 target price (up from $29.00) on shares of First Industrial Realty Trust in a research note on Sunday, June 25th. Finally, KeyCorp reissued a “hold” rating on shares of First Industrial Realty Trust in a research report on Friday, August 25th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $31.00.
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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