First Industrial Realty Trust (NYSE:FR) Issues FY 2024 Earnings Guidance

First Industrial Realty Trust (NYSE:FR) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.550-2.650 for the period, compared to the consensus EPS estimate of 2.610. The company issued revenue guidance of -. First Industrial Realty Trust also updated its FY24 guidance to $2.53-2.63 EPS.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FR. The Goldman Sachs Group lifted their price objective on First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a sell rating in a report on Thursday, January 11th. Barclays reissued an equal weight rating and issued a $53.00 price target (down from $63.00) on shares of First Industrial Realty Trust in a report on Wednesday, March 27th. Mizuho reissued a buy rating and issued a $58.00 price target on shares of First Industrial Realty Trust in a report on Tuesday, April 2nd. Royal Bank of Canada boosted their price target on First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an outperform rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. boosted their price target on First Industrial Realty Trust from $51.00 to $59.00 and gave the stock an overweight rating in a report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, First Industrial Realty Trust has an average rating of Hold and an average price target of $55.30.

First Industrial Realty Trust Trading Down 3.7 %

FR stock traded down $1.85 during trading on Wednesday, reaching $48.60. 2,168,980 shares of the stock traded hands, compared to its average volume of 1,159,946. The business’s 50 day moving average price is $52.73 and its 200-day moving average price is $49.91. First Industrial Realty Trust has a 52-week low of $40.44 and a 52-week high of $55.22. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $6.43 billion, a PE ratio of 23.48 and a beta of 1.01.

First Industrial Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.37 dividend. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.48 annualized dividend and a dividend yield of 3.05%. First Industrial Realty Trust’s dividend payout ratio is presently 71.50%.

Institutional Investors Weigh In On First Industrial Realty Trust

A number of hedge funds have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC boosted its stake in First Industrial Realty Trust by 4.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,041 shares of the real estate investment trust’s stock valued at $268,000 after acquiring an additional 217 shares during the last quarter. Virtus ETF Advisers LLC boosted its stake in First Industrial Realty Trust by 6.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,124 shares of the real estate investment trust’s stock valued at $217,000 after acquiring an additional 245 shares during the last quarter. Fortem Financial Group LLC boosted its stake in First Industrial Realty Trust by 3.0% during the 4th quarter. Fortem Financial Group LLC now owns 8,647 shares of the real estate investment trust’s stock valued at $455,000 after acquiring an additional 253 shares during the last quarter. Lazard Asset Management LLC boosted its stake in First Industrial Realty Trust by 5.3% during the 3rd quarter. Lazard Asset Management LLC now owns 5,224 shares of the real estate investment trust’s stock valued at $248,000 after acquiring an additional 264 shares during the last quarter. Finally, Cibc World Markets Corp boosted its stake in First Industrial Realty Trust by 0.7% during the 1st quarter. Cibc World Markets Corp now owns 65,586 shares of the real estate investment trust’s stock valued at $4,060,000 after acquiring an additional 453 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.