First Industrial Realty Trust (FR) stock soared 5.13% in pre-market trading on Thursday, outperforming the broader market. This significant gain can be attributed to the company's robust fourth-quarter earnings and positive analyst outlook.
FR reported an adjusted earnings per share (EPS) of $0.52 for the fourth quarter, which exceeded analysts' expectations of $0.35 per share. The company's revenue also rose by 11.6% year-over-year to $175.59 million, surpassing Wall Street's estimate of $170.81 million. These strong financial results, coupled with the company's consistent performance in beating earnings estimates over the past four quarters, have bolstered investor confidence.
Furthermore, Wall Street analysts have expressed optimism about FR's prospects, with the average recommendation being a "buy" rating. Analysts have cited the company's strong performance and positive outlook as justification for their favorable ratings, suggesting continued growth and profitability in the coming quarters.
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