First Industrial Realty Trust, Inc. (NYSE:FR) Expected to Announce Quarterly Sales of


Wall Street analysts expect that First Industrial Realty Trust, Inc. (NYSE:FR) will announce $115.80 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for First Industrial Realty Trust’s earnings, with estimates ranging from $114.30 million to $117.14 million. First Industrial Realty Trust reported sales of $109.20 million during the same quarter last year, which would suggest a positive year over year growth rate of 6%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, July 28th.

According to Zacks, analysts expect that First Industrial Realty Trust will report full year sales of $469.47 million for the current financial year, with estimates ranging from $465.60 million to $472.19 million. For the next year, analysts anticipate that the company will report sales of $494.43 million, with estimates ranging from $474.02 million to $520.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow First Industrial Realty Trust.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Tuesday, April 20th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The firm had revenue of $116.50 million during the quarter, compared to analysts’ expectations of $112.68 million. First Industrial Realty Trust had a return on equity of 11.43% and a net margin of 47.92%. First Industrial Realty Trust’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share.

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Several research firms have issued reports on FR. Scotiabank upgraded First Industrial Realty Trust from a “sector underperform” rating to a “sector perform” rating and increased their price objective for the stock from $41.00 to $52.00 in a research report on Tuesday, May 25th. Mizuho raised their price target on First Industrial Realty Trust from $48.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, April 21st. Wolfe Research initiated coverage on First Industrial Realty Trust in a research report on Monday, June 14th. They issued a “peer perform” rating and a $54.00 price target for the company. The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and raised their price target for the company from $44.00 to $46.00 in a research report on Thursday, March 25th. Finally, Zacks Investment Research cut First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Friday, April 23rd. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $48.44.

NYSE:FR opened at $53.43 on Friday. The business has a fifty day simple moving average of $50.79. The stock has a market capitalization of $6.90 billion, a PE ratio of 31.62 and a beta of 0.86. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.14 and a quick ratio of 2.14. First Industrial Realty Trust has a 1 year low of $36.53 and a 1 year high of $53.92.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 19th. Investors of record on Wednesday, June 30th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Tuesday, June 29th. First Industrial Realty Trust’s payout ratio is currently 58.70%.

In other First Industrial Realty Trust news, CIO Johannson L. Yap sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 26th. The stock was sold at an average price of $49.26, for a total value of $738,900.00. Following the sale, the executive now directly owns 215,979 shares of the company’s stock, valued at approximately $10,639,125.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Scott A. Musil sold 10,800 shares of the firm’s stock in a transaction dated Monday, April 26th. The stock was sold at an average price of $49.24, for a total value of $531,792.00. Following the completion of the sale, the chief financial officer now directly owns 92,528 shares in the company, valued at $4,556,078.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,800 shares of company stock worth $2,017,992. Corporate insiders own 1.29% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Colony Group LLC boosted its stake in First Industrial Realty Trust by 0.3% in the 1st quarter. Colony Group LLC now owns 79,675 shares of the real estate investment trust’s stock worth $3,648,000 after buying an additional 216 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of First Industrial Realty Trust in the 1st quarter valued at about $258,000. Voloridge Investment Management LLC lifted its stake in shares of First Industrial Realty Trust by 50.8% in the 1st quarter. Voloridge Investment Management LLC now owns 218,280 shares of the real estate investment trust’s stock valued at $9,995,000 after purchasing an additional 73,510 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of First Industrial Realty Trust by 18.3% in the 1st quarter. D. E. Shaw & Co. Inc. now owns 407,403 shares of the real estate investment trust’s stock valued at $18,655,000 after purchasing an additional 62,951 shares in the last quarter. Finally, Eaton Vance Management lifted its stake in shares of First Industrial Realty Trust by 804.6% in the 1st quarter. Eaton Vance Management now owns 400,497 shares of the real estate investment trust’s stock valued at $18,338,000 after purchasing an additional 356,225 shares in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

About First Industrial Realty Trust

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.

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

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