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

First Industrial Realty Trust (NYSE:FR) will 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 that are interested in participating in the company’s conference call can do so using this link.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.25). The business had revenue of $164.10 million for the quarter, compared to the consensus estimate of $163.48 million. First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. First Industrial Realty Trust’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 EPS. 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 Up 1.5 %

Shares of FR stock opened at $54.56 on Monday. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 25.14 and a beta of 1.08. The stock has a 50-day moving average of $55.20 and a 200-day moving average of $51.12. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. First Industrial Realty Trust has a 1-year low of $40.44 and a 1-year high of $57.35.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be issued a $0.37 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 2.71%. First Industrial Realty Trust’s payout ratio is currently 68.20%.

Analyst Upgrades and Downgrades

FR has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price target 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. Wells Fargo & Company raised their target price on First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. raised their target price on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Barclays lifted their price target on First Industrial Realty Trust from $52.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Scotiabank lifted 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 note on Monday, August 26th. One equities 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.92.

About First Industrial Realty Trust

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.