First Industrial Realty Trust (NYSE:FR) Releases FY 2021 Earnings Guidance

First Industrial Realty Trust (NYSE:FR) updated its FY 2021 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.890-$1.970 for the period. The company issued revenue guidance of -.First Industrial Realty Trust also updated its FY21 guidance to $1.89-1.97 EPS.

Several analysts have weighed in on the stock. Zacks Investment Research cut shares of First Industrial Realty Trust from a buy rating to a hold rating in a research note on Thursday, July 15th. Wolfe Research assumed coverage on shares of First Industrial Realty Trust in a research note on Monday, June 14th. They set a peer perform rating and a $54.00 price objective on the stock. Royal Bank of Canada upped their price objective on shares of First Industrial Realty Trust from $51.00 to $58.00 and gave the stock an outperform rating in a research note on Tuesday, June 1st. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a sell rating to a neutral rating and upped their price objective for the stock from $44.00 to $46.00 in a research note on Thursday, March 25th. Finally, Scotiabank raised shares of First Industrial Realty Trust from a sector underperform rating to a sector perform rating and upped their price objective for the stock from $41.00 to $52.00 in a research note on Tuesday, May 25th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $49.06.

Shares of FR traded down $1.55 during mid-day trading on Thursday, hitting $53.31. 12,477 shares of the company traded hands, compared to its average volume of 1,090,970. First Industrial Realty Trust has a one year low of $38.85 and a one year high of $55.41. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.14 and a quick ratio of 2.14. The business has a 50-day simple moving average of $52.38. The stock has a market capitalization of $6.88 billion, a PE ratio of 32.46 and a beta of 0.87.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Tuesday, July 20th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.07). First Industrial Realty Trust had a net margin of 47.92% and a return on equity of 11.43%. The company had revenue of $117.40 million for the quarter, compared to the consensus estimate of $115.71 million. During the same period last year, the company earned $0.46 earnings per share. First Industrial Realty Trust’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, analysts anticipate that First Industrial Realty Trust will post 1.91 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 19th. Investors of record on Wednesday, June 30th were issued a $0.27 dividend. The ex-dividend date was Tuesday, June 29th. This represents a $1.08 annualized dividend and a yield of 2.03%. First Industrial Realty Trust’s dividend payout ratio is currently 58.70%.

In related news, CFO Scott A. Musil sold 10,800 shares of the stock in a transaction that occurred on Monday, April 26th. The shares were sold at an average price of $49.24, for a total value of $531,792.00. Following the transaction, the chief financial officer now directly owns 92,528 shares in the company, valued at $4,556,078.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CIO Johannson L. Yap sold 15,000 shares of the stock in a transaction that occurred on Monday, April 26th. The shares were sold at an average price of $49.26, for a total transaction of $738,900.00. Following the completion of the transaction, the executive now owns 215,979 shares in the company, valued at $10,639,125.54. The disclosure for this sale can be found here. Insiders sold 40,800 shares of company stock worth $2,017,992 over the last 90 days. 1.29% of the stock is currently owned by company insiders.

First Industrial Realty Trust Company Profile

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.

Further Reading: Special Dividends

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

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