First Industrial Realty Trust, Inc. (NYSE:FR) to Issue $0.37 Quarterly Dividend

First Industrial Realty Trust, Inc. (NYSE:FR) announced a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.37 per share by the real estate investment trust on Tuesday, January 21st. This represents a $1.48 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Tuesday, December 31st.

First Industrial Realty Trust has increased its dividend by an average of 8.6% per year over the last three years and has increased its dividend every year for the last 11 years. First Industrial Realty Trust has a payout ratio of 93.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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 1.3 %

Shares of NYSE FR opened at $50.37 on Friday. The stock has a market cap of $6.67 billion, a P/E ratio of 21.62 and a beta of 1.07. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11. First Industrial Realty Trust has a 1 year low of $45.10 and a 1 year high of $57.35. The firm has a 50-day moving average of $52.69 and a 200 day moving average of $52.94.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The firm had revenue of $167.60 million during the quarter, compared to the consensus estimate of $164.01 million. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the company earned $0.62 earnings per share. As a group, sell-side analysts expect that First Industrial Realty Trust will post 2.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays dropped their target price on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Finally, Mizuho upped their price objective on First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $57.83.

First Industrial Realty Trust Company Profile

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.