First Industrial Realty Trust (NYSE:FR) Releases Earnings Results, Misses Estimates By $0.07 EPS

First Industrial Realty Trust (NYSE:FR) announced its earnings results on Tuesday. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.07), MarketWatch Earnings reports. The firm had revenue of $117.40 million during the quarter, compared to analyst estimates of $115.71 million. First Industrial Realty Trust had a net margin of 47.92% and a return on equity of 11.43%. First Industrial Realty Trust’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business earned $0.46 earnings per share.

Shares of First Industrial Realty Trust stock traded down $1.36 during trading hours on Thursday, hitting $53.50. The company had a trading volume of 32,216 shares, compared to its average volume of 1,090,970. The company’s 50-day moving average price is $52.38. First Industrial Realty Trust has a twelve month low of $38.85 and a twelve month high of $55.41. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.14 and a current ratio of 2.14. The firm has a market cap of $6.91 billion, a P/E ratio of 31.67 and a beta of 0.87.

The company also recently declared a quarterly dividend, which was paid on Monday, July 19th. Shareholders of record on Wednesday, June 30th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.02%. The ex-dividend date was Tuesday, June 29th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 58.70%.

In other news, CIO Johannson L. Yap sold 15,000 shares of the stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $49.26, for a total value of $738,900.00. Following the completion of the transaction, the executive now owns 215,979 shares in the company, valued at approximately $10,639,125.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott A. Musil sold 10,800 shares of the firm’s stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $49.24, for a total transaction of $531,792.00. Following the transaction, the chief financial officer now owns 92,528 shares of the company’s stock, valued at $4,556,078.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,800 shares of company stock valued at $2,017,992. Company insiders own 1.29% of the company’s stock.

FR has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price target on shares of First Industrial Realty Trust from $51.00 to $58.00 and gave the stock an “outperform” rating in a report on Tuesday, June 1st. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $44.00 to $46.00 in a report on Thursday, March 25th. Mizuho reaffirmed a “buy” rating and issued a $54.00 price objective on shares of First Industrial Realty Trust in a report on Wednesday, July 14th. Zacks Investment Research cut shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, July 15th. Finally, Scotiabank upgraded shares of First Industrial Realty Trust from a “sector underperform” rating to a “sector perform” rating and lifted their target price for the company from $41.00 to $52.00 in a research report on Tuesday, May 25th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. First Industrial Realty Trust currently has a consensus rating of “Buy” and a consensus price target 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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Earnings History for First Industrial Realty Trust (NYSE:FR)

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