FY2017 Earnings Estimate for First Industrial Realty Trust, Inc. Issued By KeyCorp (FR)

First Industrial Realty Trust, Inc. (NYSE:FR) – Analysts at KeyCorp lowered their FY2017 earnings estimates for First Industrial Realty Trust in a research report issued to clients and investors on Wednesday. KeyCorp analyst C. Mailman now expects that the real estate investment trust will earn $1.55 per share for the year, down from their previous forecast of $1.56. KeyCorp has a “Hold” rating on the stock.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.25. First Industrial Realty Trust had a return on equity of 9.54% and a net margin of 32.44%. The firm had revenue of $99.30 million during the quarter, compared to the consensus estimate of $98.38 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue was up 6.1% compared to the same quarter last year.

A number of other equities research analysts also recently commented on FR. ValuEngine downgraded First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday. J P Morgan Chase & Co downgraded First Industrial Realty Trust from a “neutral” rating to an “underweight” rating and set a $31.00 price target for the company. in a report on Friday, December 15th. Jefferies Group reissued a “neutral” rating on shares of First Industrial Realty Trust in a report on Tuesday, September 26th. Janney Montgomery Scott began coverage on First Industrial Realty Trust in a report on Friday, September 29th. They issued a “buy” rating and a $34.00 price target for the company. Finally, Stifel Nicolaus boosted their price target on First Industrial Realty Trust from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, November 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $31.86.

Shares of First Industrial Realty Trust (NYSE:FR) opened at $31.12 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.98. First Industrial Realty Trust has a twelve month low of $25.31 and a twelve month high of $32.91. The company has a market capitalization of $3,700.88, a PE ratio of 29.08 and a beta of 1.02.

Several institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its position in shares of First Industrial Realty Trust by 47.3% in the third quarter. Public Employees Retirement System of Ohio now owns 195,236 shares of the real estate investment trust’s stock valued at $5,875,000 after buying an additional 62,705 shares in the last quarter. California Public Employees Retirement System increased its position in shares of First Industrial Realty Trust by 7.3% during the third quarter. California Public Employees Retirement System now owns 215,171 shares of the real estate investment trust’s stock worth $6,474,000 after purchasing an additional 14,727 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of First Industrial Realty Trust by 119.4% during the third quarter. Cubist Systematic Strategies LLC now owns 93,077 shares of the real estate investment trust’s stock worth $2,801,000 after purchasing an additional 50,647 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of First Industrial Realty Trust during the third quarter worth approximately $476,000. Finally, Asset Management One Co. Ltd. increased its position in shares of First Industrial Realty Trust by 1.1% during the third quarter. Asset Management One Co. Ltd. now owns 251,295 shares of the real estate investment trust’s stock worth $7,597,000 after purchasing an additional 2,711 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

In other news, Director Bruce W. Duncan sold 16,855 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $30.85, for a total value of $519,976.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce W. Duncan sold 16,854 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $32.42, for a total value of $546,406.68. Following the completion of the sale, the director now owns 866,966 shares of the company’s stock, valued at $28,107,037.72. The disclosure for this sale can be found here. Insiders sold 50,564 shares of company stock valued at $1,601,193 over the last three months. 1.71% of the stock is currently owned by corporate insiders.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, December 28th. First Industrial Realty Trust’s payout ratio is presently 78.50%.

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First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.

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

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