First Industrial Realty Trust (NYSE: FR) Releases Fiscal 2021 Profit Guidance
First Industrial Realty Trust (NYSE: FR) released an update on its earnings guidance for fiscal 2021 on Wednesday morning. The company provided earnings per share (EPS) guidance of $ 1,930 to $ 1,970 for the period. . The company has released a revenue forecast of -.
Shares of First Industrial Realty Trust opened at $ 58.28 on Wednesday. The company has a market cap of $ 7.53 billion, a price-to-earnings ratio of 32.20 and a beta of 0.87. The company has a 50-day moving average price of $ 54.61 and a 200-day moving average price of $ 52.61. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt ratio of 0.80. First Industrial Realty Trust has a twelve month minimum of $ 39.24 and a twelve month maximum of $ 59.18.
First Industrial Realty Trust (NYSE: FR) last reported its quarterly results on Tuesday, October 19. The REIT reported $ 0.33 of EPS for the quarter, missing Zacks’ consensus estimate of $ 0.49 ($ 0.16). First Industrial Realty Trust had a net margin of 50.60% and a return on equity of 11.96%. The company posted revenue of $ 121.08 million in the quarter, compared to the consensus estimate of $ 117.95 million. During the same period of the previous year, the company posted EPS of $ 0.49. The company’s revenue grew 4.2% year-on-year. On average, stock analysts expect First Industrial Realty Trust to post EPS of 1.93 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 18. Investors of record on Thursday, September 30, received a dividend of $ 0.27. This represents a dividend of $ 1.08 on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Wednesday, September 29. The payout ratio of First Industrial Realty Trust is 58.70%.
A number of research analysts recently commented on the title. Mizuho reaffirmed a buy rating and issued a price target of $ 54.00 on shares of First Industrial Realty Trust in a report released on Wednesday, July 14. Truist raised its price target for First Industrial Realty Trust shares from $ 58.00 to $ 64.00 and gave the stock a buy rating in a research note on Monday. They noted that the move was an appraisal call. Royal Bank of Canada raised its price target for First Industrial Realty Trust shares from $ 58.00 to $ 63.00 and assigned the stock an outperformance rating in a research note on Tuesday, August 3. Zacks Investment Research raised shares of First Industrial Realty Trust from a custody rating to a buy rating and set a price target of $ 65.00 for the company in a research note on Friday, October 22. Finally, Truist Securities raised its target price on First Industrial Realty Trust shares from $ 52.00 to $ 58.00 and gave the stock a buy rating in a research report on Saturday, July 31. Two research analysts rated the stock with a conservation rating and eight issued a buy rating for the company. According to MarketBeat.com, the stock has an average Buy rating and an average target price of $ 57.82.
A hedge fund recently increased its stake in shares of First Industrial Realty Trust. Morgan Stanley raised its stake in shares of First Industrial Realty Trust, Inc. (NYSE: FR) by 146.5% in the 2nd quarter, according to its latest disclosure to the Securities and Exchange Commission. The company held 358,812 real estate investment trust shares after purchasing an additional 213,252 shares during the period. Morgan Stanley owned approximately 0.28% of First Industrial Realty Trust valued at $ 18,740,000 at the end of the most recent quarter. 97.37% of the shares are held by hedge funds and other institutional investors.
First Industrial Realty Trust Company Profile
First Industrial Realty Trust, Inc. operates as a real estate investment trust. She deals with the ownership, management, acquisition, sale, development and redevelopment of industrial buildings. The company’s product portfolio includes bulk warehouses, regional warehouses, R&D / flexible and light industrial properties.
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