Analysts Anticipate First Industrial Realty Trust, Inc. (FR) Will Post Quarterly Sales of $99.85 Million

Brokerages forecast that First Industrial Realty Trust, Inc. (NYSE:FR) will announce sales of $99.85 million for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for First Industrial Realty Trust’s earnings. The highest sales estimate is $101.49 million and the lowest is $98.11 million. First Industrial Realty Trust posted sales of $97.98 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.9%. The company is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, February 21st.

According to Zacks, analysts expect that First Industrial Realty Trust will report full-year sales of $99.85 million for the current financial year, with estimates ranging from $389.60 million to $395.76 million. For the next year, analysts expect that the firm will report sales of $405.72 million per share, with estimates ranging from $400.60 million to $409.82 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow First Industrial Realty Trust.

A number of research firms recently commented on FR. Robert W. Baird reiterated a “hold” rating and set a $31.00 price objective on shares of First Industrial Realty Trust in a research note on Tuesday, January 9th. Jefferies Group upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. ValuEngine lowered shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. JPMorgan Chase & Co. lowered shares of First Industrial Realty Trust from a “neutral” rating to an “underweight” rating and set a $31.00 price objective on the stock. in a research note on Friday, December 15th. Finally, SunTrust Banks reiterated a “buy” rating and set a $34.00 price objective on shares of First Industrial Realty Trust in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. First Industrial Realty Trust has a consensus rating of “Hold” and a consensus price target of $32.29.

In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 16,854 shares of First Industrial Realty Trust stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $32.42, for a total value of $546,406.68. Following the transaction, the director now owns 866,966 shares in the company, valued at $28,107,037.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.71% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its position in First Industrial Realty Trust by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 258,793 shares of the real estate investment trust’s stock worth $7,406,000 after purchasing an additional 2,757 shares in the last quarter. First Capital Advisors Group LLC. purchased a new position in First Industrial Realty Trust during the 3rd quarter worth approximately $307,000. Goldman Sachs Group Inc. grew its position in First Industrial Realty Trust by 3.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 740,025 shares of the real estate investment trust’s stock worth $21,180,000 after purchasing an additional 26,649 shares in the last quarter. Principal Financial Group Inc. grew its position in First Industrial Realty Trust by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 4,449,105 shares of the real estate investment trust’s stock worth $133,874,000 after purchasing an additional 150,162 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its position in First Industrial Realty Trust by 13.0% during the 3rd quarter. Great West Life Assurance Co. Can now owns 144,962 shares of the real estate investment trust’s stock worth $4,381,000 after purchasing an additional 16,689 shares in the last quarter. Hedge funds and other institutional investors own 93.47% of the company’s stock.

First Industrial Realty Trust (FR) traded up $0.28 during midday trading on Friday, hitting $28.78. 1,010,333 shares of the company were exchanged, compared to its average volume of 921,835. First Industrial Realty Trust has a fifty-two week low of $25.56 and a fifty-two week high of $32.91. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $3,431.22, a price-to-earnings ratio of 26.90 and a beta of 0.90.

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First Industrial Realty Trust Company Profile

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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