First Industrial Realty Trust (FR) Announces Quarterly Earnings Results, Beats Expectations By $0.17 EPS
First Industrial Realty Trust (NYSE:FR) posted its quarterly earnings results on Tuesday. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.17, Fidelity Earnings reports. First Industrial Realty Trust had a net margin of 53.92% and a return on equity of 15.20%. The business had revenue of $99.77 million during the quarter, compared to the consensus estimate of $98.86 million. During the same quarter last year, the firm posted $0.36 EPS. First Industrial Realty Trust’s revenue was up 2.5% compared to the same quarter last year. First Industrial Realty Trust updated its FY18 guidance to $1.53-1.63 EPS.
NYSE:FR traded up $0.51 during trading hours on Thursday, hitting $30.16. 100,797 shares of the company traded hands, compared to its average volume of 846,577. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.88. First Industrial Realty Trust has a one year low of $27.38 and a one year high of $32.91. The stock has a market cap of $3,560.56, a PE ratio of 18.64 and a beta of 0.88.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Shareholders of record on Thursday, March 29th were paid a dividend of $0.218 per share. The ex-dividend date was Wednesday, March 28th. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.21. This represents a $0.87 annualized dividend and a yield of 2.89%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 55.41%.
Several analysts recently issued reports on the stock. ValuEngine downgraded shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, April 11th. Mizuho assumed coverage on shares of First Industrial Realty Trust in a research report on Monday, March 26th. They issued a “neutral” rating and a $31.00 price target for the company. Stifel Nicolaus reduced their price target on shares of First Industrial Realty Trust from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Robert W. Baird reissued a “hold” rating and issued a $31.00 price target on shares of First Industrial Realty Trust in a research report on Tuesday, January 9th. Finally, Jefferies Group reissued a “buy” rating and issued a $39.00 price target on shares of First Industrial Realty Trust in a research report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $32.86.
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About First Industrial Realty Trust
First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.
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