First Industrial Realty Trust (NYSE:FR) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.07), MarketWatch Earnings reports. First Industrial Realty Trust had a net margin of 47.92% and a return on equity of 11.43%. The firm had revenue of $117.40 million for the quarter, compared to analyst estimates of $115.71 million. During the same quarter in the previous year, the company earned $0.46 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year.
Shares of FR traded down $1.45 during trading hours on Thursday, hitting $53.41. 14,952 shares of the company were exchanged, compared to its average volume of 1,090,970. The company has a market capitalization of $6.90 billion, a P/E ratio of 32.46 and a beta of 0.87. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.80. The business’s fifty day moving average is $52.38. First Industrial Realty Trust has a one year low of $38.85 and a one year high of $55.41.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 19th. Stockholders of record on Wednesday, June 30th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Tuesday, June 29th. First Industrial Realty Trust’s dividend payout ratio is presently 58.70%.
A number of analysts have recently weighed in on FR shares. Scotiabank upgraded First Industrial Realty Trust from a “sector underperform” rating to a “sector perform” rating and increased their price target for the stock from $41.00 to $52.00 in a research report on Tuesday, May 25th. Zacks Investment Research cut First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, July 15th. The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and increased their price target for the stock from $44.00 to $46.00 in a research report on Thursday, March 25th. Royal Bank of Canada increased their price target on First Industrial Realty Trust from $51.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 1st. Finally, Mizuho restated a “buy” rating and issued a $54.00 target price on shares of First Industrial Realty Trust in a research report on Wednesday, July 14th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $49.06.
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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