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 2.610-2.650 for the period, compared to the consensus EPS estimate of 2.620. The company issued revenue guidance of -. First Industrial Realty Trust also updated its FY24 guidance to $2.61-2.65 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Mizuho upped their target price on First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Truist Financial upped their target price on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Wells Fargo & Company increased their price target on First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Royal Bank of Canada increased their price target on First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Finally, Scotiabank increased their price target on First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, First Industrial Realty Trust has an average rating of “Moderate Buy” and a consensus target price of $57.92.

First Industrial Realty Trust Trading Up 1.4 %

Shares of NYSE FR traded up $0.75 during midday trading on Wednesday, reaching $55.91. 3,523,284 shares of the stock were exchanged, compared to its average volume of 1,092,641. The company has a 50 day simple moving average of $55.32 and a 200 day simple moving average of $51.15. The stock has a market capitalization of $7.40 billion, a P/E ratio of 25.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.16. First Industrial Realty Trust has a twelve month low of $40.44 and a twelve month high of $57.35.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). The firm had revenue of $164.10 million for the quarter, compared to analyst estimates of $163.48 million. First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 EPS. As a group, equities analysts expect that First Industrial Realty Trust will post 2.62 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, September 30th will be issued a $0.37 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 2.65%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 68.20%.

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.