J.P. Morgan Adjusts FR Estimates

J.P. Morgan is adjusting its estimates on First Industrial Realty Trust FR.

“We have adjusted our normalized 2011 and 2012 FFO estimates to $0.82 and $0.83/share from $0.85 and $0.82/share, respectively,” J.P. Morgan writes.

“We note that our 2011 FFO estimate diverges from our reported FFO estimate of $0.81/share shown below due to the impact of a projected one-time $1.5 million restructuring charge impacting the ‘reported' number.”