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

First Industrial Realty Trust (NYSE:FR) will announce its earnings results 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 registering for the company’s conference call can do so using this link.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data 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 firm had revenue of $164.10 million for the quarter, compared to analysts’ expectations of $163.48 million. First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. First Industrial Realty Trust’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.61 earnings per share. 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 Stock Performance

NYSE:FR opened at $53.98 on Wednesday. The firm has a market capitalization of $7.14 billion, a PE ratio of 24.88 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.16 and a quick ratio of 1.16. The business’s fifty day moving average price is $55.22 and its 200 day moving average price is $51.06. First Industrial Realty Trust has a 12 month low of $40.44 and a 12 month high of $57.35.

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 2.74%. First Industrial Realty Trust’s payout ratio is currently 68.20%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FR. The Goldman Sachs Group boosted their target price on First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a report on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Mizuho lifted their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Wolfe Research upgraded shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price target for the company in a research report on Tuesday, August 13th. Finally, Scotiabank raised their price objective on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, First Industrial Realty Trust currently has an average rating of “Hold” and a consensus target price of $56.46.

First Industrial Realty Trust Company Profile

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.