First Industrial Realty Trust (NYSE:FR – Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.61-2.65 for the period, compared to the consensus earnings per share estimate of $2.62.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on FR. JPMorgan Chase & Co. boosted their price target on First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Scotiabank boosted their price target 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. Truist Financial boosted their price target on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Wolfe Research upgraded First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company boosted their price objective on First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $57.92.
Read Our Latest Research Report on First Industrial Realty Trust
First Industrial Realty Trust Trading Up 1.3 %
First Industrial Realty Trust (NYSE:FR – Get Free Report) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.25). First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The company had revenue of $164.10 million for the quarter, compared to analysts’ expectations of $163.48 million. During the same quarter in the previous year, the company posted $0.61 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that First Industrial Realty Trust will post 2.62 EPS for the current year.
First Industrial Realty Trust Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 68.20%.
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.
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