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.
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