$126.08 Million in Sales Expected for First Industrial Realty Trust, Inc. (NYSE:FR) This Quarter

Brokerages expect First Industrial Realty Trust, Inc. (NYSE:FRGet Rating) to report $126.08 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for First Industrial Realty Trust’s earnings. The highest sales estimate is $128.19 million and the lowest is $124.50 million. First Industrial Realty Trust posted sales of $117.40 million in the same quarter last year, which suggests a positive year over year growth rate of 7.4%. The firm is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that First Industrial Realty Trust will report full year sales of $511.98 million for the current year, with estimates ranging from $504.06 million to $521.59 million. For the next financial year, analysts anticipate that the firm will report sales of $557.87 million, with estimates ranging from $518.81 million to $599.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for First Industrial Realty Trust.

First Industrial Realty Trust (NYSE:FRGet Rating) last announced its earnings results on Wednesday, April 20th. The real estate investment trust reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. First Industrial Realty Trust had a return on equity of 11.40% and a net margin of 50.47%. The firm had revenue of $125.50 million for the quarter, compared to the consensus estimate of $123.45 million. During the same period in the previous year, the business earned $0.46 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year.

Several research analysts have recently weighed in on the company. Mizuho lowered First Industrial Realty Trust from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $54.00 to $64.00 in a research report on Thursday, January 13th. StockNews.com assumed coverage on First Industrial Realty Trust in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $53.73.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in shares of First Industrial Realty Trust by 15.5% in the fourth quarter. Russell Investments Group Ltd. now owns 715,410 shares of the real estate investment trust’s stock worth $47,340,000 after acquiring an additional 95,774 shares during the period. California Public Employees Retirement System boosted its holdings in shares of First Industrial Realty Trust by 2.0% in the third quarter. California Public Employees Retirement System now owns 295,382 shares of the real estate investment trust’s stock worth $15,383,000 after acquiring an additional 5,887 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of First Industrial Realty Trust by 10.8% in the fourth quarter. State of Alaska Department of Revenue now owns 180,303 shares of the real estate investment trust’s stock worth $11,934,000 after acquiring an additional 17,578 shares during the period. Strs Ohio boosted its holdings in shares of First Industrial Realty Trust by 23.7% in the fourth quarter. Strs Ohio now owns 178,118 shares of the real estate investment trust’s stock worth $11,791,000 after acquiring an additional 34,079 shares during the period. Finally, Inspire Investing LLC bought a new position in shares of First Industrial Realty Trust in the third quarter worth $230,000. Hedge funds and other institutional investors own 96.39% of the company’s stock.

FR stock opened at $51.98 on Friday. The stock has a 50-day moving average price of $59.78 and a 200-day moving average price of $60.56. First Industrial Realty Trust has a 1-year low of $48.29 and a 1-year high of $66.74. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.78. The firm has a market cap of $6.86 billion, a PE ratio of 27.80 and a beta of 0.93.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 18th. Stockholders of record on Thursday, June 30th will be paid a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.27%. First Industrial Realty Trust’s payout ratio is presently 63.10%.

About First Industrial Realty Trust (Get Rating)

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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