Revenue Update on First Industrial Realty Trust(NYSE:FR)

First Industrial Realty Trust(NYSE:FR) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $93.02M. Analysts estimated a revenue of $94.29M. Earnings per share were $0.36. Analysts had estimated an EPS of $0.35.

In a different note, On Jun 1, 2016, Jefferies said it Downgrades its rating on First Industrial Realty Trust. The shares have been rated ‘Hold’ by the firm. On May 3, 2016, Stifel Nicolaus said it Maintains its rating on First Industrial Realty Trust. In the research note, the firm Raises the price-target to $24.00 per share. The shares have been rated ‘Buy’ by the firm.

First Industrial Realty Trust (FR) made into the market gainers list on Thursdays trading session with the shares advancing 0.52% or 0.15 points. Due to strong positive momentum, the stock ended at $29.14, which is also near the day’s high of $29.51. The stock began the session at $29.09 and the volume stood at 9,55,755 shares. The 52-week high of the shares is $29.7501 and the 52 week low is $18.54. The company has a current market capitalization of $3,405 M and it has 11,68,62,408 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Mar 9, 2016, Bruce W Duncan (President and CEO) sold 26,333 shares at $22.17 per share price.Also, 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.

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