First Industrial Realty Trust, Inc. (FR) to Issue Quarterly Dividend of $0.45 on April 21st

First Industrial Realty Trust, Inc. (NYSE:FR) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Investors of record on Monday, March 31st will be given a dividend of 0.445 per share by the real estate investment trust on Monday, April 21st. This represents a $1.78 annualized dividend and a yield of 3.24%. The ex-dividend date is Monday, March 31st. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37.

First Industrial Realty Trust has raised its dividend payment by an average of 11.1% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. First Industrial Realty Trust has a payout ratio of 86.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect First Industrial Realty Trust to earn $2.87 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 51.6%.

First Industrial Realty Trust Trading Down 0.5 %

Shares of NYSE FR opened at $54.87 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $51.58 and a two-hundred day simple moving average of $53.50. The firm has a market cap of $7.26 billion, a PE ratio of 23.55 and a beta of 1.09. First Industrial Realty Trust has a twelve month low of $45.10 and a twelve month high of $57.35.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, topping the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. Analysts expect that First Industrial Realty Trust will post 2.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 target price for the company. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Finally, Barclays lowered their price objective on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, First Industrial Realty Trust presently has a consensus rating of “Hold” and an average target price of $57.38.

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.