First Industrial Realty Trust, Inc. (NYSE:FR) – KeyCorp increased their FY2019 earnings per share (EPS) estimates for shares of First Industrial Realty Trust in a report issued on Tuesday, November 5th. KeyCorp analyst C. Mailman now expects that the real estate investment trust will post earnings of $1.73 per share for the year, up from their previous estimate of $1.72. KeyCorp also issued estimates for First Industrial Realty Trust’s FY2020 earnings at $1.82 EPS.
Several other equities research analysts also recently issued reports on the company. ValuEngine downgraded First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $33.50.
First Industrial Realty Trust stock traded down $0.04 during mid-day trading on Friday, hitting $41.69. 97,176 shares of the company’s stock traded hands, compared to its average volume of 716,826. The firm has a 50 day simple moving average of $40.37 and a two-hundred day simple moving average of $37.77. First Industrial Realty Trust has a fifty-two week low of $27.30 and a fifty-two week high of $42.53. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 3.74 and a beta of 0.68. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80.
First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.19. First Industrial Realty Trust had a return on equity of 11.43% and a net margin of 45.86%. The business had revenue of $106.59 million during the quarter, compared to the consensus estimate of $106.81 million. During the same quarter last year, the firm posted $0.40 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis.
Several institutional investors and hedge funds have recently bought and sold shares of FR. Nuveen Asset Management LLC lifted its holdings in shares of First Industrial Realty Trust by 99.3% during the second quarter. Nuveen Asset Management LLC now owns 2,233,734 shares of the real estate investment trust’s stock worth $82,068,000 after buying an additional 1,112,920 shares in the last quarter. Invesco Ltd. raised its stake in First Industrial Realty Trust by 77.7% in the second quarter. Invesco Ltd. now owns 1,946,923 shares of the real estate investment trust’s stock valued at $71,530,000 after purchasing an additional 851,117 shares in the last quarter. Prudential Financial Inc. raised its stake in First Industrial Realty Trust by 196.8% in the second quarter. Prudential Financial Inc. now owns 1,216,206 shares of the real estate investment trust’s stock valued at $44,684,000 after purchasing an additional 806,385 shares in the last quarter. Long Pond Capital LP acquired a new position in First Industrial Realty Trust in the second quarter valued at about $27,575,000. Finally, V3 Capital Management L.P. acquired a new position in First Industrial Realty Trust in the second quarter valued at about $17,459,000. 94.33% of the stock is owned by institutional investors.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Monday, December 30th. First Industrial Realty Trust’s dividend payout ratio is currently 57.50%.
First Industrial Realty Trust Company Profile
First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.
See Also: Net Asset Value
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