First Industrial Realty Trust (FR) Earning Somewhat Positive Press Coverage, Study Shows
Media headlines about First Industrial Realty Trust (NYSE:FR) have been trending somewhat positive this week, according to Accern Sentiment. Accern identifies positive and negative media coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. First Industrial Realty Trust earned a news impact score of 0.15 on Accern’s scale. Accern also gave press coverage about the real estate investment trust an impact score of 45.6510339019799 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Shares of First Industrial Realty Trust (FR) opened at 30.14 on Thursday. The firm has a market cap of $3.61 billion, a P/E ratio of 30.69 and a beta of 1.00. First Industrial Realty Trust has a one year low of $24.85 and a one year high of $31.83. The stock’s 50 day moving average is $30.65 and its 200-day moving average is $28.86.
First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.18. First Industrial Realty Trust had a net margin of 29.91% and a return on equity of 8.88%. The company had revenue of $97.60 million during the quarter, compared to analyst estimates of $97.62 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Analysts anticipate that First Industrial Realty Trust will post $0.82 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, September 28th. First Industrial Realty Trust’s payout ratio is currently 85.71%.
A number of analysts have commented on FR shares. Stifel Nicolaus increased their price objective on shares of First Industrial Realty Trust from $30.00 to $31.50 and gave the company a “buy” rating in a report on Wednesday, June 14th. BidaskClub downgraded shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Jefferies Group LLC restated a “hold” rating and set a $30.00 price target (up previously from $29.00) on shares of First Industrial Realty Trust in a report on Sunday, June 25th. Zacks Investment Research downgraded shares of First Industrial Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, KeyCorp restated a “hold” rating on shares of First Industrial Realty Trust in a report on Friday, August 25th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $30.60.
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In other news, CFO Scott A. Musil sold 20,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $30.22, for a total value of $604,400.00. Following the completion of the transaction, the chief financial officer now directly owns 107,273 shares in the company, valued at $3,241,790.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce W. Duncan sold 15,146 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $28.68, for a total transaction of $434,387.28. Following the completion of the transaction, the director now owns 949,531 shares of the company’s stock, valued at $27,232,549.08. The disclosure for this sale can be found here. Insiders sold 99,279 shares of company stock valued at $3,004,548 in the last three months. Company insiders own 1.83% of the company’s stock.
About First Industrial Realty Trust
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.
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