First Industrial Realty Trust, Inc. (NYSE:FR) Releases FY17 Earnings Guidance

First Industrial Realty Trust, Inc. (NYSE:FR) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.51-1.59 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.54.

First Industrial Realty Trust, Inc. (NYSE FR) traded down 0.74% during trading on Friday, reaching $29.51. 621,429 shares of the company’s stock were exchanged. The firm has a market cap of $3.54 billion, a P/E ratio of 30.05 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 $31.14. The stock’s 50 day moving average price is $29.44 and its 200 day moving average price is $28.02.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.18. First Industrial Realty Trust had a return on equity of 8.88% and a net margin of 29.91%. The firm had revenue of $97.60 million during the quarter, compared to the consensus estimate of $97.62 million. During the same period last year, the company earned $0.36 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. Equities research analysts anticipate that First Industrial Realty Trust, Inc. will post $0.82 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.84 annualized dividend and a yield of 2.85%. First Industrial Realty Trust’s payout ratio is 85.71%.

FR has been the topic of several research reports. BidaskClub cut First Industrial Realty Trust from a buy rating to a hold rating in a research report on Wednesday, June 21st. Jefferies Group LLC reaffirmed a hold rating and set a $30.00 price objective (up from $29.00) on shares of First Industrial Realty Trust in a research report on Sunday, June 25th. Zacks Investment Research raised First Industrial Realty Trust from a hold rating to a buy rating and set a $32.00 price objective on the stock in a research report on Tuesday, May 2nd. Finally, Stifel Nicolaus boosted their price target on First Industrial Realty Trust from $30.00 to $31.50 and gave the stock a buy rating in a report on Wednesday, June 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. First Industrial Realty Trust currently has an average rating of Hold and an average target price of $30.20.

In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 15,146 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $28.68, for a total value of $434,387.28. Following the completion of the sale, the director now directly owns 949,531 shares in the company, valued at approximately $27,232,549.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Schultz sold 12,132 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $30.43, for a total value of $369,176.76. Following the completion of the sale, the executive vice president now owns 109,399 shares of the company’s stock, valued at $3,329,011.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,424 shares of company stock worth $1,864,616. Corporate insiders own 1.83% of the company’s stock.

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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.

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

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