Brokerages Anticipate First Industrial Realty Trust, Inc. (FR) Will Post Earnings of $0.40 Per Share

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Wall Street brokerages expect First Industrial Realty Trust, Inc. (NYSE:FR) to post earnings per share of $0.40 for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for First Industrial Realty Trust’s earnings. The highest EPS estimate is $0.41 and the lowest is $0.40. First Industrial Realty Trust reported earnings of $0.39 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 2.6%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, July 25th.

According to Zacks, analysts expect that First Industrial Realty Trust will report full year earnings of $1.61 per share for the current year, with EPS estimates ranging from $1.58 to $1.63. For the next year, analysts expect that the company will post earnings of $1.70 per share, with EPS estimates ranging from $1.68 to $1.72. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow First Industrial Realty Trust.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Tuesday, April 24th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.17. First Industrial Realty Trust had a net margin of 53.92% and a return on equity of 15.01%. The company had revenue of $99.77 million during the quarter, compared to analysts’ expectations of $98.86 million. During the same period in the prior year, the company earned $0.36 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year.

A number of research firms have issued reports on FR. Jefferies Financial Group cut shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Friday, April 27th. ValuEngine cut shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, April 11th. Finally, Mizuho upgraded shares of First Industrial Realty Trust from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a report on Monday, May 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. First Industrial Realty Trust presently has an average rating of “Hold” and an average target price of $32.86.

FR stock traded down $0.91 during mid-day trading on Thursday, reaching $32.25. 63,365 shares of the stock traded hands, compared to its average volume of 880,377. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.47 and a quick ratio of 1.47. First Industrial Realty Trust has a 52 week low of $27.61 and a 52 week high of $34.04. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 21.04 and a beta of 0.85.

The business also recently announced a quarterly dividend, which was paid on Monday, July 16th. Investors of record on Friday, June 29th were paid a $0.218 dividend. This represents a $0.87 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, June 28th. First Industrial Realty Trust’s payout ratio is presently 55.41%.

In related news, Director Bruce W. Duncan sold 8,700 shares of the stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $32.25, for a total value of $280,575.00. Following the completion of the sale, the director now owns 815,580 shares in the company, valued at $26,302,455. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bruce W. Duncan sold 30,000 shares of the stock in a transaction dated Thursday, July 12th. The shares were sold at an average price of $33.42, for a total transaction of $1,002,600.00. Following the completion of the sale, the director now owns 642,564 shares of the company’s stock, valued at approximately $21,474,488.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,240 shares of company stock valued at $7,494,822. 1.71% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of First Industrial Realty Trust by 1.0% in the first quarter. BlackRock Inc. now owns 18,525,189 shares of the real estate investment trust’s stock valued at $541,491,000 after buying an additional 175,968 shares during the period. Principal Financial Group Inc. lifted its stake in First Industrial Realty Trust by 2.5% during the first quarter. Principal Financial Group Inc. now owns 4,102,838 shares of the real estate investment trust’s stock worth $119,926,000 after purchasing an additional 99,375 shares during the period. Northern Trust Corp lifted its stake in First Industrial Realty Trust by 2.2% during the first quarter. Northern Trust Corp now owns 3,459,467 shares of the real estate investment trust’s stock worth $101,119,000 after purchasing an additional 74,953 shares during the period. Dimensional Fund Advisors LP lifted its stake in First Industrial Realty Trust by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,814,483 shares of the real estate investment trust’s stock worth $53,037,000 after purchasing an additional 40,984 shares during the period. Finally, Prudential Financial Inc. lifted its stake in First Industrial Realty Trust by 2.8% during the first quarter. Prudential Financial Inc. now owns 1,562,079 shares of the real estate investment trust’s stock worth $45,660,000 after purchasing an additional 42,086 shares during the period. Institutional investors and hedge funds own 90.80% of the company’s stock.

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.

See Also: Earnings Per Share (EPS) Explained

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

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