KeyCorp Comments on First Industrial Realty Trust, Inc.’s FY2018 Earnings (FR)

First Industrial Realty Trust, Inc. (NYSE:FR) – Investment analysts at KeyCorp decreased their FY2018 earnings per share estimates for First Industrial Realty Trust in a report issued on Tuesday, according to Zacks Investment Research. KeyCorp analyst C. Mailman now forecasts that the real estate investment trust will earn $1.61 per share for the year, down from their previous estimate of $1.64. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for First Industrial Realty Trust’s FY2019 earnings at $1.69 EPS.

FR has been the subject of several other reports. SunTrust Banks reiterated a “buy” rating and set a $32.00 target price on shares of First Industrial Realty Trust in a research note on Friday, October 27th. Stifel Nicolaus boosted their price target on First Industrial Realty Trust from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, November 6th. JPMorgan Chase & Co. downgraded First Industrial Realty Trust from a “neutral” rating to an “underweight” rating and set a $31.00 price target for the company. in a research note on Friday, December 15th. Jefferies Group restated a “neutral” rating on shares of First Industrial Realty Trust in a research note on Tuesday, September 26th. Finally, ValuEngine cut First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $32.29.

First Industrial Realty Trust (NYSE:FR) opened at $29.81 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.81 and a current ratio of 0.81. First Industrial Realty Trust has a one year low of $25.31 and a one year high of $32.91. The company has a market capitalization of $3,570.00, a P/E ratio of 27.86 and a beta of 1.03.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.25. First Industrial Realty Trust had a return on equity of 9.54% and a net margin of 32.44%. The firm had revenue of $99.30 million during the quarter, compared to the consensus estimate of $98.38 million. During the same period last year, the company earned $0.37 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.82%. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 78.50%.

In related news, Director Bruce W. Duncan sold 16,855 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $31.73, for a total transaction of $534,809.15. Following the sale, the director now owns 883,820 shares in the company, valued at approximately $28,043,608.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce W. Duncan sold 16,854 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $32.42, for a total value of $546,406.68. Following the sale, the director now owns 866,966 shares in the company, valued at approximately $28,107,037.72. The disclosure for this sale can be found here. 1.71% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in shares of First Industrial Realty Trust by 532.3% during the 1st quarter. Renaissance Technologies LLC now owns 53,115 shares of the real estate investment trust’s stock valued at $1,414,000 after purchasing an additional 44,715 shares in the last quarter. Sei Investments Co. boosted its position in shares of First Industrial Realty Trust by 11,371.8% during the 2nd quarter. Sei Investments Co. now owns 102,902 shares of the real estate investment trust’s stock valued at $2,945,000 after purchasing an additional 102,005 shares in the last quarter. IFP Advisors Inc boosted its position in shares of First Industrial Realty Trust by 5.2% during the 2nd quarter. IFP Advisors Inc now owns 3,823 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 190 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of First Industrial Realty Trust by 10.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,384,869 shares of the real estate investment trust’s stock valued at $39,635,000 after purchasing an additional 128,673 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of First Industrial Realty Trust by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 49,400 shares of the real estate investment trust’s stock valued at $1,414,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

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About First Industrial Realty Trust

First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.

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

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