First Industrial Realty Trust (FR) Releases Earnings Results, Beats Expectations By $0.01 EPS

First Industrial Realty Trust (FR) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.36 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.35. The company posted revenue of $93.01 million in the period, compared to analysts expectations of $94.08 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.

Many Wall Street Analysts have commented on First Industrial Realty Trust. First Industrial Realty Trust was Downgraded by Jefferies to ” Hold” on Jun 1, 2016. Company shares were Reiterated by Stifel on May 3, 2016 to “Buy”, Firm has raised the Price Target to $ 25 from a previous price target of $24 .

First Industrial Realty Trust opened for trading at $28.35 and hit $28.99 on the upside on Thursday, eventually ending the session at $28.77, with a gain of 1.45% or 0.41 points. The heightened volatility saw the trading volume jump to 6,80,466 shares. Company has a market cap of $3,362 M.

In a different news, on Mar 9, 2016, Bruce W Duncan (President and CEO) sold 26,333 shares at $22.17 per share price. According to the SEC, on Mar 1, 2016, Scott A Musil (Chief Financial Officer) sold 13,017 shares at $21.62 per share price. On Aug 12, 2015, Peter Schultz (EVP – East Region) sold 13,190 shares at $20.95 per share price, according to the Form-4 filing with the securities and exchange commission.

First Industrial Realty Trust Inc. is a real estate investment trust (REIT). The Trust is a self-administered real estate company which owns manages acquires sells develops and redevelops industrial real estate. The Trust owns approximately 634 in-service industrial properties containing approximately 62.4 million square feet of gross leasable area (GLA). Its in-service portfolio consisted of approximately 285 light industrial properties 90 R&D/flex properties 160 bulk warehouse properties and 99 regional warehouse properties located in 25 states. Its in-service portfolio includes all properties other than developed redeveloped and acquired properties that have not yet reached stabilized occupancy. The Trust’s interests in its properties and land parcels are held through partnerships corporations and limited liability companies controlled directly or indirectly by the Trust including the Operating Partnership and through its REIT subsidiaries.

First Industrial Realty Trust

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