First Industrial Realty Trust (NYSE:FR) Announces Earnings Results

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First Industrial Realty Trust (NYSE:FR) released its quarterly earnings results on Wednesday. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.11), Fidelity Earnings reports. The business had revenue of $104.10 million for the quarter, compared to the consensus estimate of $105.62 million. First Industrial Realty Trust had a net margin of 35.11% and a return on equity of 8.70%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 EPS. First Industrial Realty Trust updated its FY 2019 guidance to $1.68-1.76 EPS and its FY19 guidance to $1.68-1.76 EPS.

Shares of NYSE:FR traded up $0.28 during trading on Friday, hitting $38.11. The stock had a trading volume of 258,997 shares, compared to its average volume of 713,716. First Industrial Realty Trust has a 12 month low of $27.30 and a 12 month high of $38.20. The company has a market cap of $4.80 billion, a P/E ratio of 23.82, a PEG ratio of 3.48 and a beta of 0.73. The company has a fifty day moving average of $37.01. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.93.

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Thursday, June 27th. First Industrial Realty Trust’s dividend payout ratio is currently 57.50%.

Large investors have recently made changes to their positions in the company. Citigroup Inc. raised its position in shares of First Industrial Realty Trust by 11.8% in the 1st quarter. Citigroup Inc. now owns 154,626 shares of the real estate investment trust’s stock worth $5,468,000 after acquiring an additional 16,349 shares in the last quarter. Bank of America Corp DE grew its stake in shares of First Industrial Realty Trust by 26.5% in the 4th quarter. Bank of America Corp DE now owns 760,120 shares of the real estate investment trust’s stock worth $21,937,000 after buying an additional 159,415 shares during the last quarter. Barings LLC grew its stake in shares of First Industrial Realty Trust by 3.0% in the 1st quarter. Barings LLC now owns 1,124,003 shares of the real estate investment trust’s stock worth $39,745,000 after buying an additional 32,769 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of First Industrial Realty Trust by 21.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 12,000 shares of the real estate investment trust’s stock worth $389,000 after buying an additional 2,100 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of First Industrial Realty Trust by 9.1% in the 4th quarter. Geode Capital Management LLC now owns 1,702,290 shares of the real estate investment trust’s stock worth $49,128,000 after buying an additional 141,450 shares during the last quarter. 93.16% of the stock is owned by hedge funds and other institutional investors.

FR has been the subject of a number of recent analyst reports. Goldman Sachs Group initiated coverage on Liberty Property Trust in a research report on Wednesday, May 15th. They set a “neutral” rating and a $49.00 price target for the company. Zacks Investment Research lowered Green Plains from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 27th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $32.58.

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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