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

First Industrial Realty Trust, Inc. (NYSE:FR) announced a quarterly dividend on Wednesday, February 5th, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Monday, March 31st. This is a 20.3% increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37.

First Industrial Realty Trust has increased its dividend by an average of 11.1% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. First Industrial Realty Trust has a dividend payout ratio of 97.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect First Industrial Realty Trust to earn $3.10 per share next year, which means the company should continue to be able to cover its $1.78 annual dividend with an expected future payout ratio of 57.4%.

First Industrial Realty Trust Stock Down 1.2 %

FR opened at $53.60 on Friday. The business has a 50 day moving average of $54.99 and a 200-day moving average of $53.74. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 24.59 and a beta of 1.07. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust has a 1-year low of $45.10 and a 1-year high of $58.17.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. As a group, sell-side analysts anticipate that First Industrial Realty Trust will post 2.89 earnings per share for the current year.

Wall Street Analyst Weigh In

FR has been the subject of a number of research reports. Robert W. Baird raised their price objective on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target on the stock. Barclays restated a “cautious” rating on shares of First Industrial Realty Trust in a research note on Tuesday. Finally, The Goldman Sachs Group raised First Industrial Realty Trust from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $52.00 to $59.00 in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, First Industrial Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $58.38.

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.