First Industrial Realty Trust, Inc. (FR) to Post Q4 2017 Earnings of $0.40 Per Share, Jefferies Group Forecasts

First Industrial Realty Trust, Inc. (NYSE:FR) – Investment analysts at Jefferies Group reduced their Q4 2017 EPS estimates for shares of First Industrial Realty Trust in a research report issued to clients and investors on Tuesday. Jefferies Group analyst J. Petersen now anticipates that the real estate investment trust will post earnings per share of $0.40 for the quarter, down from their previous estimate of $0.41. Jefferies Group currently has a “Buy” rating on the stock.

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

FR has been the topic of a number of other reports. SunTrust Banks restated a “buy” rating and issued a $32.00 target price on shares of First Industrial Realty Trust in a report on Friday, October 27th. Stifel Nicolaus lifted their price target on First Industrial Realty Trust from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, November 6th. JPMorgan Chase & Co. downgraded First Industrial Realty Trust from a “neutral” rating to an “underweight” rating and set a $31.00 price target on the stock. in a report on Friday, December 15th. ValuEngine downgraded First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, KeyCorp reiterated a “hold” rating on shares of First Industrial Realty Trust in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. First Industrial Realty Trust has an average rating of “Hold” and a consensus price target of $32.29.

First Industrial Realty Trust (FR) opened at $29.99 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $3,627.77, a price-to-earnings ratio of 28.03 and a beta of 1.02. First Industrial Realty Trust has a 1-year low of $25.31 and a 1-year high of $32.91.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Amalgamated Bank grew its stake in First Industrial Realty Trust by 2.2% in the second quarter. Amalgamated Bank now owns 16,607 shares of the real estate investment trust’s stock valued at $475,000 after purchasing an additional 351 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in First Industrial Realty Trust by 1.2% in the second quarter. Ameritas Investment Partners Inc. now owns 45,128 shares of the real estate investment trust’s stock valued at $1,292,000 after purchasing an additional 523 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in First Industrial Realty Trust by 1.0% in the second quarter. Mutual of America Capital Management LLC now owns 95,427 shares of the real estate investment trust’s stock valued at $2,731,000 after purchasing an additional 975 shares in the last quarter. Phocas Financial Corp. grew its stake in First Industrial Realty Trust by 3.5% in the second quarter. Phocas Financial Corp. now owns 34,336 shares of the real estate investment trust’s stock valued at $983,000 after purchasing an additional 1,177 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake in First Industrial Realty Trust by 9.1% in the second quarter. Neuberger Berman Group LLC now owns 15,170 shares of the real estate investment trust’s stock valued at $434,000 after purchasing an additional 1,268 shares in the last quarter. Hedge funds and other institutional investors own 92.95% of the company’s stock.

In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 16,854 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $32.42, for a total value of $546,406.68. Following the transaction, the director now owns 866,966 shares in the company, valued at $28,107,037.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce W. Duncan sold 16,855 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $31.73, for a total value of $534,809.15. Following the completion of the transaction, the director now owns 883,820 shares in the company, valued at approximately $28,043,608.60. The disclosure for this sale can be found here. Insiders own 1.71% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.80%. First Industrial Realty Trust’s dividend payout ratio is 78.50%.

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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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