First Industrial Realty Trust (NYSE:FR – Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.53-2.63 for the period, compared to the consensus estimate of $2.61. First Industrial Realty Trust also updated its FY 2024 guidance to 2.550-2.650 EPS.
First Industrial Realty Trust Trading Down 5.3 %
NYSE FR opened at $46.03 on Friday. The stock has a market capitalization of $6.09 billion, a P/E ratio of 21.21 and a beta of 1.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.84. First Industrial Realty Trust has a 52-week low of $40.44 and a 52-week high of $55.22. The firm has a 50-day moving average price of $52.54 and a 200 day moving average price of $49.88.
First Industrial Realty Trust Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.32. This represents a $1.48 annualized dividend and a yield of 3.22%. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 68.20%.
Wall Street Analyst Weigh In
Institutional Trading of First Industrial Realty Trust
Several institutional investors and hedge funds have recently added to or reduced their stakes in FR. Raymond James & Associates increased its stake in First Industrial Realty Trust by 74.1% during the 1st 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. acquired a new position in First Industrial Realty Trust in the 1st quarter valued at $232,000. American Century Companies Inc. purchased a new position in First Industrial Realty Trust during the 1st quarter worth approximately $263,000. Natixis Advisors L.P. raised 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 period. Finally, Great West Life Assurance Co. Can raised 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 worth $11,298,000 after buying an additional 7,724 shares in the last quarter. 99.85% of the stock is owned by institutional investors.
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.
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