Analysts Anticipate First Industrial Realty Trust, Inc. (NYSE:FR) Will Announce Quarterly Sales of $106.15 Million

Wall Street brokerages predict that First Industrial Realty Trust, Inc. (NYSE:FR) will post $106.15 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for First Industrial Realty Trust’s earnings. The highest sales estimate is $108.67 million and the lowest is $104.22 million. First Industrial Realty Trust reported sales of $100.26 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.9%. The firm is expected to issue its next earnings results on Wednesday, October 23rd.

On average, analysts expect that First Industrial Realty Trust will report full year sales of $422.43 million for the current financial year, with estimates ranging from $417.52 million to $429.78 million. For the next financial year, analysts expect that the company will post sales of $444.28 million, with estimates ranging from $421.23 million to $461.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover First Industrial Realty Trust.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.11). First Industrial Realty Trust had a net margin of 35.11% and a return on equity of 8.70%. The business had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $105.62 million. During the same quarter last year, the firm earned $0.39 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year.

FR has been the topic of a number of analyst reports. Goldman Sachs Group initiated coverage on First Industrial Realty Trust in a research note on Wednesday, May 15th. They issued a “buy” rating and a $38.00 price target on the stock. Zacks Investment Research upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $32.70.

Shares of First Industrial Realty Trust stock traded up $0.55 during trading on Monday, reaching $39.21. The company’s stock had a trading volume of 12,869 shares, compared to its average volume of 691,702. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.83. First Industrial Realty Trust has a 12-month low of $27.30 and a 12-month high of $39.21. The company has a market capitalization of $4.91 billion, a P/E ratio of 24.50, a price-to-earnings-growth ratio of 3.54 and a beta of 0.71. The business has a 50 day moving average price of $37.97 and a 200-day moving average price of $35.90.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, September 30th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.92 annualized dividend and a yield of 2.35%. First Industrial Realty Trust’s dividend payout ratio is presently 57.50%.

A number of hedge funds have recently modified their holdings of FR. BlackRock Inc. grew its position in shares of First Industrial Realty Trust by 10.3% in the first quarter. BlackRock Inc. now owns 21,236,093 shares of the real estate investment trust’s stock valued at $750,907,000 after purchasing an additional 1,981,659 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of First Industrial Realty Trust by 1.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,878,793 shares of the real estate investment trust’s stock valued at $179,247,000 after purchasing an additional 86,199 shares during the period. Principal Financial Group Inc. grew its position in shares of First Industrial Realty Trust by 7.2% in the first quarter. Principal Financial Group Inc. now owns 4,489,314 shares of the real estate investment trust’s stock valued at $158,741,000 after purchasing an additional 302,461 shares during the period. Northern Trust Corp grew its position in shares of First Industrial Realty Trust by 1.3% in the second quarter. Northern Trust Corp now owns 3,274,616 shares of the real estate investment trust’s stock valued at $120,310,000 after purchasing an additional 42,568 shares during the period. Finally, Nuveen Asset Management LLC grew its position in shares of First Industrial Realty Trust by 99.3% in the second quarter. Nuveen Asset Management LLC now owns 2,233,734 shares of the real estate investment trust’s stock valued at $82,068,000 after purchasing an additional 1,112,920 shares during the period. 92.89% of the stock is owned by hedge funds and other institutional investors.

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.

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

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