First Industrial Realty Trust (FR) Set to Announce Earnings on Wednesday

First Industrial Realty Trust (NYSE:FR) will be releasing its earnings data after the market closes on Wednesday, April 17th. Analysts expect First Industrial Realty Trust to post earnings of $0.62 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

First Industrial Realty Trust Stock Performance

FR opened at $51.20 on Monday. The stock has a market cap of $6.78 billion, a P/E ratio of 24.73 and a beta of 1.01. First Industrial Realty Trust has a 1-year low of $40.44 and a 1-year high of $55.22. The stock’s 50 day simple moving average is $52.76 and its 200 day simple moving average is $49.87. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 1.06.

First Industrial Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Wednesday, March 27th. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.32. First Industrial Realty Trust’s dividend payout ratio is currently 71.50%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FR. Raymond James & Associates increased its holdings in shares of First Industrial Realty Trust by 74.1% during the 1st quarter. Raymond James & Associates now owns 8,818 shares of the real estate investment trust’s stock worth $546,000 after acquiring an additional 3,753 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of First Industrial Realty Trust during the first quarter worth about $232,000. American Century Companies Inc. acquired a new position in shares of First Industrial Realty Trust during the first quarter worth $263,000. Natixis Advisors L.P. raised its position in shares of First Industrial Realty Trust by 22.6% during the first quarter. Natixis Advisors L.P. now owns 16,759 shares of the real estate investment trust’s stock worth $1,038,000 after acquiring an additional 3,086 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of First Industrial Realty Trust by 4.6% during the first quarter. Great West Life Assurance Co. Can now owns 176,557 shares of the real estate investment trust’s stock worth $11,298,000 after buying an additional 7,724 shares during the period. Institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FR. TheStreet upgraded shares of First Industrial Realty Trust from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Royal Bank of Canada upped their price objective on First Industrial Realty Trust from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. The Goldman Sachs Group lifted their price target on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the company a “sell” rating in a report on Thursday, January 11th. Mizuho restated a “buy” rating and set a $58.00 price objective on shares of First Industrial Realty Trust in a research note on Tuesday, April 2nd. Finally, Truist Financial lifted their price target on First Industrial Realty Trust from $57.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $55.30.

About First Industrial Realty Trust

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.