First Industrial Realty Trust (FR) Scheduled to Post Quarterly Earnings on Wednesday

by · The Cerbat Gem

First Industrial Realty Trust (NYSE:FR – Get Free Report) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, October 16th. Analysts expect the company to announce earnings of $0.67 per share for the quarter. First Industrial Realty Trust has set its FY24 guidance at $2.59-2.67 EPS and its FY 2024 guidance at 2.570-2.650 EPS.Parties interested in registering for the company’s conference call can do so using this link.

First Industrial Realty Trust (NYSE:FR – Get Free Report) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.25). First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The firm had revenue of $164.10 million for the quarter, compared to the consensus estimate of $163.48 million. During the same quarter in the prior year, the firm earned $0.61 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts expect First Industrial Realty Trust to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

First Industrial Realty Trust Trading Down 0.1 %

First Industrial Realty Trust stock opened at $54.49 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. The business’s fifty day simple moving average is $55.20 and its two-hundred day simple moving average is $51.12. First Industrial Realty Trust has a 12 month low of $40.44 and a 12 month high of $57.35. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 25.11 and a beta of 1.08.

First Industrial Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Truist Financial upped their price objective on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Royal Bank of Canada upped their price objective on First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Scotiabank upped their price objective on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. upped their price objective on First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group upped their price objective on First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.92.

Check Out Our Latest Stock Analysis on FR

About First Industrial Realty Trust

(Get Free Report)

First Industrial Realty Trust, Inc (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.

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