FY2024 Earnings Forecast for First Industrial Realty Trust, Inc. (NYSE:FR) Issued By Wedbush

First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) - Equities researchers at Wedbush lowered their FY2024 earnings per share estimates for First Industrial Realty Trust in a research report issued on Thursday, April 25th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings of $2.58 per share for the year, down from their prior estimate of $2.63. Wedbush has a "Neutral" rating and a $49.00 price objective on the stock. The consensus estimate for First Industrial Realty Trust's current full-year earnings is $2.61 per share. Wedbush also issued estimates for First Industrial Realty Trust's FY2025 earnings at $2.84 EPS.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. lowered their target price on First Industrial Realty Trust from $59.00 to $53.00 and set an "overweight" rating for the company in a report on Wednesday. Truist Financial increased their price target on First Industrial Realty Trust from $57.00 to $59.00 and gave the company a "buy" rating in a research report on Tuesday, February 20th. TheStreet raised First Industrial Realty Trust from a "c+" rating to a "b-" rating in a research report on Thursday, January 11th. Royal Bank of Canada increased their price target on First Industrial Realty Trust from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Friday, February 16th. Finally, The Goldman Sachs Group increased their price target on First Industrial Realty Trust from $41.00 to $47.00 and gave the company a "sell" rating in a research report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, First Industrial Realty Trust presently has an average rating of "Hold" and an average target price of $53.11.

First Industrial Realty Trust Trading Down 0.1 %

FR stock traded down $0.04 during mid-day trading on Friday, reaching $46.00. The company's stock had a trading volume of 767,741 shares, compared to its average volume of 1,181,920. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 21.26 and a beta of 1.01. The business's 50 day moving average price is $51.73 and its 200 day moving average price is $49.87. The company has a current ratio of 1.25, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83. First Industrial Realty Trust has a 12 month low of $40.44 and a 12 month high of $55.22.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of First Industrial Realty Trust in the 4th quarter valued at about $78,559,000. Frontier Capital Management Co. LLC raised its holdings in shares of First Industrial Realty Trust by 788.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust's stock valued at $65,598,000 after buying an additional 1,105,286 shares in the last quarter. Centersquare Investment Management LLC raised its holdings in shares of First Industrial Realty Trust by 23.6% during the 4th quarter. Centersquare Investment Management LLC now owns 4,551,501 shares of the real estate investment trust's stock valued at $239,728,000 after buying an additional 869,676 shares in the last quarter. Lasalle Investment Management Securities LLC raised its holdings in shares of First Industrial Realty Trust by 49.7% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 1,633,051 shares of the real estate investment trust's stock valued at $86,013,000 after buying an additional 541,909 shares in the last quarter. Finally, Crestline Management LP purchased a new position in shares of First Industrial Realty Trust during the 4th quarter valued at about $26,335,000. Institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.48 annualized dividend and a yield of 3.22%. This is an increase from First Industrial Realty Trust's previous quarterly dividend of $0.32. First Industrial Realty Trust's dividend payout ratio (DPR) is currently 68.20%.

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.