FY2017 EPS Estimates for First Industrial Realty Trust, Inc. Decreased by Jefferies Group (FR)

First Industrial Realty Trust, Inc. (NYSE:FR) – Equities research analysts at Jefferies Group reduced their FY2017 EPS estimates for shares of First Industrial Realty Trust in a research note issued to investors on Friday. Jefferies Group analyst J. Petersen now expects that the real estate investment trust will post earnings of $1.53 per share for the year, down from their previous estimate of $1.56. Jefferies Group currently has a “Hold” rating and a $30.00 target price on the stock. Jefferies Group also issued estimates for First Industrial Realty Trust’s FY2019 earnings at $1.69 EPS.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by $0.01. First Industrial Realty Trust had a net margin of 33.58% and a return on equity of 10.10%. The firm had revenue of $97.38 million during the quarter, compared to analyst estimates of $97.31 million. During the same quarter in the previous year, the business posted $0.35 EPS. First Industrial Realty Trust’s revenue for the quarter was up 4.2% compared to the same quarter last year.

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Earnings History and Estimates for First Industrial Realty Trust (NYSE:FR)

A number of other equities analysts have also commented on FR. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, February 27th. BMO Capital Markets restated a “hold” rating and issued a $28.00 price target on shares of First Industrial Realty Trust in a research report on Wednesday, March 22nd. Stifel Nicolaus upped their target price on shares of First Industrial Realty Trust from $30.00 to $31.50 and gave the stock a “buy” rating in a research report on Wednesday, June 14th. Finally, BidaskClub lowered shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. First Industrial Realty Trust has a consensus rating of “Hold” and an average target price of $29.90.

Shares of First Industrial Realty Trust (FR) opened at 29.00 on Monday. First Industrial Realty Trust has a 52 week low of $24.85 and a 52 week high of $30.17. The firm has a 50 day moving average of $28.81 and a 200 day moving average of $27.56. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 26.51 and a beta of 1.00.

Several institutional investors have recently made changes to their positions in the company. Glen Harbor Capital Management LLC increased its stake in First Industrial Realty Trust by 10.0% in the first quarter. Glen Harbor Capital Management LLC now owns 4,356 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 396 shares during the period. Elkfork Partners LLC acquired a new stake in First Industrial Realty Trust during the fourth quarter worth $141,000. Pacad Investment Ltd. acquired a new stake in First Industrial Realty Trust during the fourth quarter worth $180,000. Meadow Creek Investment Management LLC increased its stake in First Industrial Realty Trust by 10.0% in the first quarter. Meadow Creek Investment Management LLC now owns 6,732 shares of the real estate investment trust’s stock worth $179,000 after buying an additional 612 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in First Industrial Realty Trust by 4.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,342 shares of the real estate investment trust’s stock worth $196,000 after buying an additional 327 shares during the period. Institutional investors own 93.65% of the company’s stock.

In other news, insider Johannson L. Yap sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $28.18, for a total transaction of $507,240.00. Following the transaction, the insider now directly owns 296,002 shares in the company, valued at $8,341,336.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce W. Duncan sold 17,157 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $27.71, for a total transaction of $475,420.47. Following the transaction, the director now owns 978,159 shares in the company, valued at $27,104,785.89. The disclosure for this sale can be found here. Insiders have sold 52,313 shares of company stock worth $1,460,284 over the last quarter. 1.83% of the stock is owned by company insiders.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.90%. First Industrial Realty Trust’s payout ratio is 77.06%.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.

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