Brokerages Anticipate First Industrial Realty Trust, Inc. (NYSE:FR) Will Post Earnings of $0.49 Per Share

Analysts forecast that First Industrial Realty Trust, Inc. (NYSE:FR) will post earnings of $0.49 per share for the current fiscal quarter, according to Zacks. Five analysts have made estimates for First Industrial Realty Trust’s earnings, with the highest EPS estimate coming in at $0.51 and the lowest estimate coming in at $0.48. First Industrial Realty Trust also posted earnings per share of $0.49 during the same quarter last year. The firm is expected to announce its next quarterly earnings report on Wednesday, October 20th.

According to Zacks, analysts expect that First Industrial Realty Trust will report full-year earnings of $1.93 per share for the current year, with EPS estimates ranging from $1.90 to $1.95. For the next fiscal year, analysts anticipate that the business will report earnings of $2.08 per share, with EPS estimates ranging from $2.02 to $2.18. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for First Industrial Realty Trust.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Tuesday, July 20th. The real estate investment trust reported $0.40 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.07). The firm had revenue of $117.40 million during the quarter, compared to the consensus estimate of $115.71 million. First Industrial Realty Trust had a net margin of 50.60% and a return on equity of 11.96%. First Industrial Realty Trust’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 earnings per share.

FR has been the topic of a number of research reports. Mizuho reissued a “buy” rating and set a $54.00 target price on shares of First Industrial Realty Trust in a report on Wednesday, July 14th. Truist Securities boosted their price objective on shares of First Industrial Realty Trust from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Saturday, July 31st. Wolfe Research started coverage on First Industrial Realty Trust in a research report on Monday, June 14th. They set a “peer perform” rating and a $54.00 target price for the company. Barclays started coverage on First Industrial Realty Trust in a report on Wednesday, September 1st. They set an “overweight” rating and a $65.00 target price on the stock. Finally, Royal Bank of Canada increased their price target on First Industrial Realty Trust from $58.00 to $63.00 and gave the company an “outperform” rating in a research note on Tuesday, August 3rd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $52.68.

NYSE FR traded down $0.73 during trading hours on Monday, reaching $53.37. The company’s stock had a trading volume of 2,368,461 shares, compared to its average volume of 1,049,168. The firm has a fifty day simple moving average of $54.87 and a 200-day simple moving average of $51.16. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.16 and a quick ratio of 1.16. First Industrial Realty Trust has a 52 week low of $38.85 and a 52 week high of $56.90. The stock has a market cap of $6.89 billion, a P/E ratio of 29.49 and a beta of 0.87.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 18th. Investors of record on Thursday, September 30th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, September 29th. This represents a $1.08 annualized dividend and a dividend yield of 2.02%. First Industrial Realty Trust’s payout ratio is 58.70%.

Several hedge funds have recently made changes to their positions in FR. FFT Wealth Management LLC acquired a new position in shares of First Industrial Realty Trust during the second quarter valued at about $48,000. Berman Capital Advisors LLC increased its position in First Industrial Realty Trust by 135.5% in the 1st quarter. Berman Capital Advisors LLC now owns 1,267 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 729 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in First Industrial Realty Trust by 97.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,165 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 576 shares during the period. FORA Capital LLC bought a new position in First Industrial Realty Trust in the first quarter worth approximately $73,000. Finally, Dark Forest Capital Management LP bought a new position in First Industrial Realty Trust in the second quarter worth approximately $75,000. 97.37% of the stock is owned by institutional investors.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc operates as a real estate investment trust. It engages in the ownership, management, acquisition, sale, development and redevelopment of industrial real estate. The firm product portfolio includes bulk warehouse, regional warehouse, R&D/flex, and light industrial properties.

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

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