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

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

Shares of FR stock traded down $1.45 on Thursday, hitting $53.41. The stock had a trading volume of 14,952 shares, compared to its average volume of 1,090,970. First Industrial Realty Trust has a twelve month low of $38.85 and a twelve month high of $55.41. The firm has a market cap of $6.90 billion, a price-to-earnings ratio of 32.46 and a beta of 0.87. 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 company has a fifty day simple moving average of $52.38.

The company also recently declared a quarterly dividend, which was paid on Monday, July 19th. Stockholders of record on Wednesday, June 30th were issued a $0.27 dividend. 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 (DPR) is 58.70%.

In related news, CIO Johannson L. Yap sold 15,000 shares of the company’s stock in a transaction on 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 directly owns 215,979 shares of the company’s stock, valued at approximately $10,639,125.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Scott A. Musil sold 10,800 shares of the company’s stock in a transaction on Monday, April 26th. The stock was 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 of the company’s stock, 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 valued at $2,017,992 in the last three months. 1.29% of the stock is owned by company insiders.

FR has been the subject of several research analyst reports. Royal Bank of Canada boosted their price objective on shares of 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. 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. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $44.00 to $46.00 in a report on Thursday, March 25th. Wolfe Research started 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 for the company. Finally, Scotiabank raised shares of First Industrial Realty Trust from a “sector underperform” rating to a “sector perform” rating and lifted 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 assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $49.06.

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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