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

First Industrial Realty Trust (NYSE:FR) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.610-2.650 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

FR has been the topic of a number of research reports. The Goldman Sachs Group raised their price target on First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a “sell” rating in a report on Friday, July 26th. Mizuho upped their price target on First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. lifted their price objective on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Scotiabank upped their price objective on shares of 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. Finally, Wells Fargo & Company lifted their target price on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, First Industrial Realty Trust has an average rating of “Moderate Buy” and an average target price of $57.92.

First Industrial Realty Trust Stock Up 1.0 %

FR opened at $55.25 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 25.46 and a beta of 1.08. First Industrial Realty Trust has a one year low of $40.44 and a one year high of $57.35. The business’s fifty day moving average is $55.45 and its two-hundred day moving average is $51.23.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The business had revenue of $167.60 million for the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.62 EPS. Analysts anticipate that First Industrial Realty Trust will post 2.62 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Monday, September 30th. 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.