Zacks: Brokerages Anticipate First Industrial Realty Trust, Inc. (FR) to Announce $0.40 Earnings Per Share

Brokerages expect First Industrial Realty Trust, Inc. (NYSE:FR) to announce earnings of $0.40 per share for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for First Industrial Realty Trust’s earnings, with estimates ranging from $0.39 to $0.41. First Industrial Realty Trust reported earnings per share of $0.20 in the same quarter last year, which would indicate a positive year over year growth rate of 100%. The business is expected to report its next quarterly earnings results on Wednesday, February 28th.

On average, analysts expect that First Industrial Realty Trust will report full year earnings of $1.56 per share for the current financial year, with EPS estimates ranging from $1.53 to $1.57. For the next fiscal year, analysts expect that the business will post earnings of $1.64 per share, with EPS estimates ranging from $1.61 to $1.66. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover First Industrial Realty Trust.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.25. First Industrial Realty Trust had a return on equity of 9.54% and a net margin of 32.44%. The firm had revenue of $99.30 million during the quarter, compared to the consensus estimate of $98.38 million. During the same period last year, the business posted $0.37 EPS. The business’s revenue was up 6.1% compared to the same quarter last year.

A number of analysts have weighed in on the company. Jefferies Group reiterated a “hold” rating and set a $34.00 price target on shares of First Industrial Realty Trust in a report on Friday, November 24th. KeyCorp reissued a “hold” rating on shares of First Industrial Realty Trust in a research report on Friday, August 25th. Janney Montgomery Scott initiated coverage on shares of First Industrial Realty Trust in a research report on Friday, September 29th. They set a “buy” rating and a $34.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of First Industrial Realty Trust from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Finally, ValuEngine raised shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $32.00.

Shares of First Industrial Realty Trust (NYSE FR) opened at $32.63 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.98. First Industrial Realty Trust has a 1-year low of $25.31 and a 1-year high of $32.86. The firm has a market capitalization of $3,883.04, a PE ratio of 21.04 and a beta of 1.01.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a $0.21 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.84 annualized dividend and a yield of 2.57%. First Industrial Realty Trust’s payout ratio is 78.50%.

In related news, Director Bruce W. Duncan sold 16,855 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $31.50, for a total value of $530,932.50. Following the transaction, the director now owns 917,530 shares of the company’s stock, valued at approximately $28,902,195. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 50,565 shares of company stock worth $1,585,718. 1.71% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its position in First Industrial Realty Trust by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 258,793 shares of the real estate investment trust’s stock valued at $7,406,000 after acquiring an additional 2,757 shares in the last quarter. Chicago Equity Partners LLC purchased a new stake in First Industrial Realty Trust in the 2nd quarter valued at about $1,637,000. First Capital Advisors Group LLC. purchased a new stake in First Industrial Realty Trust in the 3rd quarter valued at about $307,000. Goldman Sachs Group Inc. increased its stake in First Industrial Realty Trust by 3.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 740,025 shares of the real estate investment trust’s stock valued at $21,180,000 after buying an additional 26,649 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in First Industrial Realty Trust by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 356,336 shares of the real estate investment trust’s stock valued at $10,197,000 after buying an additional 36,713 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

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About First Industrial Realty Trust

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

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