First Industrial Realty Trust, Inc. to Post Q2 2019 Earnings of $0.42 Per Share, SunTrust Banks Forecasts (FR)

First Industrial Realty Trust, Inc. (NYSE:FR) – Equities research analysts at SunTrust Banks decreased their Q2 2019 earnings per share (EPS) estimates for First Industrial Realty Trust in a note issued to investors on Monday, May 13th. SunTrust Banks analyst K. Kim now forecasts that the real estate investment trust will post earnings per share of $0.42 for the quarter, down from their previous forecast of $0.43. SunTrust Banks has a “Buy” rating and a $36.00 price target on the stock.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.01). First Industrial Realty Trust had a return on equity of 9.05% and a net margin of 36.88%. The company had revenue of $104.50 million during the quarter, compared to the consensus estimate of $104.68 million. During the same period in the previous year, the company earned $0.38 earnings per share. First Industrial Realty Trust’s quarterly revenue was up 4.7% on a year-over-year basis.

A number of other equities analysts also recently weighed in on the stock. Goldman Sachs Group initiated coverage on shares of First Industrial Realty Trust in a research note on Wednesday. They set a “buy” rating and a $38.00 target price for the company. Mizuho reaffirmed a “buy” rating and set a $38.00 target price on shares of First Industrial Realty Trust in a research note on Wednesday, February 20th. Finally, Zacks Investment Research raised shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Wednesday, February 20th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $32.08.

FR stock opened at $35.40 on Wednesday. First Industrial Realty Trust has a 1 year low of $27.30 and a 1 year high of $36.21. The stock has a market capitalization of $4.41 billion, a P/E ratio of 22.13, a P/E/G ratio of 3.16 and a beta of 0.74. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.80.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Thursday, June 27th. First Industrial Realty Trust’s dividend payout ratio is 57.50%.

In other news, CFO Scott A. Musil sold 13,000 shares of the stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $33.90, for a total transaction of $440,700.00. Following the sale, the chief financial officer now owns 110,989 shares in the company, valued at $3,762,527.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Johannson L. Yap sold 15,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $34.02, for a total transaction of $510,300.00. Following the sale, the insider now owns 109,159 shares in the company, valued at approximately $3,713,589.18. The disclosure for this sale can be found here. 1.22% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of FR. BlackRock Inc. grew its holdings in shares of First Industrial Realty Trust by 10.3% during 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 buying an additional 1,981,659 shares during the last quarter. Norges Bank purchased a new position in shares of First Industrial Realty Trust during the 4th quarter worth $41,197,000. Oregon Public Employees Retirement Fund boosted its stake in shares of First Industrial Realty Trust by 2,786.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,431,889 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,382,274 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of First Industrial Realty Trust by 66.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,800,660 shares of the real estate investment trust’s stock worth $63,671,000 after acquiring an additional 721,566 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of First Industrial Realty Trust by 18.4% during the 4th quarter. Macquarie Group Ltd. now owns 2,303,636 shares of the real estate investment trust’s stock worth $66,483,000 after acquiring an additional 357,946 shares during the last quarter. Hedge funds and other institutional investors own 92.62% of the company’s stock.

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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