What is Wedbush's Forecast for FR FY2024 Earnings?

First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) - Equities research analysts at Wedbush upped their FY2024 earnings per share estimates for First Industrial Realty Trust in a report released on Friday, October 18th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings of $2.65 per share for the year, up from their prior estimate of $2.63. The consensus estimate for First Industrial Realty Trust's current full-year earnings is $2.62 per share. Wedbush also issued estimates for First Industrial Realty Trust's Q4 2024 earnings at $0.70 EPS and FY2025 earnings at $2.93 EPS.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. The firm had revenue of $167.60 million for the quarter, compared to analysts' expectations of $164.01 million. First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The business's revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 earnings per share.

Several other analysts have also weighed in on FR. Truist Financial raised their price objective on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, August 5th. Scotiabank lifted their price objective on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a "sector perform" rating in a research report on Monday, August 26th. Mizuho increased their target price on First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, September 5th. JPMorgan Chase & Co. lifted their price target on First Industrial Realty Trust from $53.00 to $60.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Finally, Wolfe Research upgraded shares of First Industrial Realty Trust from a "peer perform" rating to an "outperform" rating and set a $64.00 price target on the stock in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $57.92.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock traded down $0.72 during mid-day trading on Monday, reaching $54.53. 2,029,466 shares of the stock were exchanged, compared to its average volume of 1,103,398. First Industrial Realty Trust has a fifty-two week low of $40.44 and a fifty-two week high of $57.35. The company has a market cap of $7.22 billion, a price-to-earnings ratio of 25.46 and a beta of 1.08. The firm has a 50-day simple moving average of $55.45 and a 200 day simple moving average of $51.23. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83.

Institutional Trading of First Industrial Realty Trust

A number of institutional investors have recently bought and sold shares of the business. Land & Buildings Investment Management LLC lifted its stake in First Industrial Realty Trust by 256.4% in the second quarter. Land & Buildings Investment Management LLC now owns 808,212 shares of the real estate investment trust's stock valued at $38,398,000 after buying an additional 581,472 shares during the period. Russell Investments Group Ltd. increased its stake in shares of First Industrial Realty Trust by 328.4% in the 1st quarter. Russell Investments Group Ltd. now owns 750,189 shares of the real estate investment trust's stock valued at $39,413,000 after acquiring an additional 575,057 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of First Industrial Realty Trust in the 2nd quarter valued at approximately $23,755,000. Bank of Montreal Can boosted its stake in First Industrial Realty Trust by 442.8% during the 2nd quarter. Bank of Montreal Can now owns 559,132 shares of the real estate investment trust's stock worth $26,570,000 after acquiring an additional 456,124 shares during the last quarter. Finally, BROOKFIELD Corp ON grew its holdings in First Industrial Realty Trust by 479.8% during the first quarter. BROOKFIELD Corp ON now owns 486,178 shares of the real estate investment trust's stock valued at $25,544,000 after purchasing an additional 402,331 shares during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

First Industrial Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be paid a $0.37 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 2.71%. First Industrial Realty Trust's payout ratio 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.