First Industrial Realty Trust (NYSE:FR) issued an update on its FY 2021 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.890-$1.970 for the period. The company issued revenue guidance of -.First Industrial Realty Trust also updated its FY21 guidance to $1.89-1.97 EPS.
NYSE:FR traded down $1.55 during midday trading on Thursday, hitting $53.31. 12,477 shares of the stock were exchanged, compared to its average volume of 1,090,970. First Industrial Realty Trust has a one year low of $38.85 and a one year high of $55.41. The company has a market cap of $6.88 billion, a P/E ratio of 32.46 and a beta of 0.87. The company’s 50-day moving average price is $52.38. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.14 and a quick ratio of 2.14.
First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Tuesday, July 20th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.07). First Industrial Realty Trust had a return on equity of 11.43% and a net margin of 47.92%. The firm had revenue of $117.40 million for the quarter, compared to the consensus estimate of $115.71 million. During the same period in the previous year, the firm earned $0.46 EPS. First Industrial Realty Trust’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, analysts forecast that First Industrial Realty Trust will post 1.91 earnings per share for the current fiscal year.
Several research analysts have issued reports on FR shares. Zacks Investment Research cut First Industrial Realty Trust from a buy rating to a hold rating in a report on Thursday, July 15th. Mizuho reaffirmed a buy rating and issued a $54.00 price target on shares of First Industrial Realty Trust in a report on Wednesday, July 14th. Royal Bank of Canada upped their price target on First Industrial Realty Trust from $51.00 to $58.00 and gave the company an outperform rating in a report on Tuesday, June 1st. Scotiabank raised First Industrial Realty Trust from a sector underperform rating to a sector perform rating and upped their price target for the company from $41.00 to $52.00 in a report on Tuesday, May 25th. Finally, Wolfe Research started coverage on First Industrial Realty Trust in a report on Monday, June 14th. They issued a peer perform rating and a $54.00 price target on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. First Industrial Realty Trust currently has an average rating of Buy and a consensus target price of $49.06.
In other news, EVP Peter Schultz sold 15,000 shares of the business’s stock in a transaction on Friday, April 30th. The shares were sold at an average price of $49.82, for a total transaction of $747,300.00. Following the transaction, the executive vice president now directly owns 96,424 shares in the company, valued at approximately $4,803,843.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Scott A. Musil sold 10,800 shares of the business’s stock in a transaction on Monday, April 26th. The shares were sold at an average price of $49.24, for a total transaction of $531,792.00. Following the transaction, the chief financial officer now owns 92,528 shares in the company, valued at $4,556,078.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,800 shares of company stock worth $2,017,992. Corporate insiders own 1.29% of the company’s stock.
About First Industrial Realty Trust
First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.
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