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

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

Shares of NYSE FR traded down $1.12 during mid-day trading on Thursday, reaching $53.74. The company had a trading volume of 49,530 shares, compared to its average volume of 1,090,970. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.80. The stock has a 50 day simple moving average of $52.38. The stock has a market cap of $6.94 billion, a PE ratio of 31.77 and a beta of 0.87. First Industrial Realty Trust has a 52-week low of $38.85 and a 52-week high of $55.41.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 19th. Stockholders of record on Wednesday, June 30th were issued a $0.27 dividend. The ex-dividend date was Tuesday, June 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.01%. First Industrial Realty Trust’s payout ratio is 58.70%.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, July 15th. Mizuho reiterated a “buy” rating and set a $54.00 target price on shares of First Industrial Realty Trust in a report on Wednesday, July 14th. Royal Bank of Canada increased their target price 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. Wolfe Research assumed coverage on shares of First Industrial Realty Trust in a report on Monday, June 14th. They set a “peer perform” rating and a $54.00 target price on the stock. Finally, Scotiabank upgraded shares of First Industrial Realty Trust from a “sector underperform” rating to a “sector perform” rating and increased their target price for the stock from $41.00 to $52.00 in a report on Tuesday, May 25th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $49.06.

In related news, EVP Peter Schultz sold 15,000 shares of the stock in a transaction on Friday, April 30th. The shares were sold at an average price of $49.82, for a total value of $747,300.00. Following the transaction, the executive vice president now directly owns 96,424 shares of the company’s stock, valued at approximately $4,803,843.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott A. Musil sold 10,800 shares of the stock in a transaction on Monday, April 26th. The shares were sold at an average price of $49.24, for a total transaction of $531,792.00. Following the completion of the transaction, the chief financial officer now directly owns 92,528 shares in the company, valued at $4,556,078.72. The disclosure for this sale can be found here. Insiders sold a total of 40,800 shares of company stock worth $2,017,992 over the last ninety days. Insiders own 1.29% 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 for First Industrial Realty Trust (NYSE:FR)

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