First Industrial Realty Trust (NYSE:FR – Get Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.15-$2.23 for the period. The company issued revenue guidance of -.
Analysts Set New Price Targets
FR has been the subject of several recent analyst reports. Truist Financial lowered their target price on shares of First Industrial Realty Trust from $66.00 to $63.00 in a research note on Monday, May 16th. The Goldman Sachs Group dropped their price target on shares of First Industrial Realty Trust from $70.00 to $61.00 and set a neutral rating on the stock in a research report on Thursday, June 16th. Robert W. Baird lifted their target price on shares of First Industrial Realty Trust from $69.00 to $75.00 in a research report on Friday, July 22nd. StockNews.com initiated coverage on shares of First Industrial Realty Trust in a research report on Thursday, March 31st. They set a hold rating on the stock. Finally, Jefferies Financial Group reduced their target price on shares of First Industrial Realty Trust from $62.00 to $55.00 and set a buy rating on the stock in a research note on Thursday, June 30th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, First Industrial Realty Trust currently has an average rating of Moderate Buy and a consensus target price of $54.33.
First Industrial Realty Trust Trading Up 0.8 %
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NYSE:FR opened at $50.34 on Wednesday. First Industrial Realty Trust has a 52 week low of $45.79 and a 52 week high of $66.74. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.73 and a current ratio of 0.99. The stock’s 50 day moving average price is $49.42 and its 200 day moving average price is $55.97. The company has a market capitalization of $6.65 billion, a P/E ratio of 21.42 and a beta of 0.96.
First Industrial Realty Trust (NYSE:FR – Get Rating) last announced its earnings results on Wednesday, July 20th. The real estate investment trust reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.35. The company had revenue of $130.00 million during the quarter, compared to analyst estimates of $127.55 million. First Industrial Realty Trust had a return on equity of 13.84% and a net margin of 62.25%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company posted $0.48 earnings per share. On average, research analysts forecast that First Industrial Realty Trust will post 2.17 EPS for the current fiscal year.
First Industrial Realty Trust Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, July 18th. Investors of record on Thursday, June 30th were paid a $0.295 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $1.18 annualized dividend and a yield of 2.34%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 50.21%.
Hedge Funds Weigh In On First Industrial Realty Trust
A number of institutional investors and hedge funds have recently bought and sold shares of FR. Raymond James & Associates lifted its holdings in shares of First Industrial Realty Trust by 74.1% in the first quarter. Raymond James & Associates now owns 8,818 shares of the real estate investment trust’s stock valued at $546,000 after purchasing an additional 3,753 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in First Industrial Realty Trust during the first quarter worth about $232,000. American Century Companies Inc. bought a new stake in First Industrial Realty Trust during the first quarter worth about $263,000. Natixis Advisors L.P. lifted its stake in shares of First Industrial Realty Trust by 22.6% in the 1st quarter. Natixis Advisors L.P. now owns 16,759 shares of the real estate investment trust’s stock valued at $1,038,000 after acquiring an additional 3,086 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in shares of First Industrial Realty Trust by 4.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 176,557 shares of the real estate investment trust’s stock valued at $11,298,000 after acquiring an additional 7,724 shares during the last quarter. Institutional investors and hedge funds own 96.39% of the company’s stock.
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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