First Industrial Realty Trust, Inc. (NYSE:FR) announced a quarterly dividend on Wednesday, February 12th, Zacks reports. Shareholders of record on Tuesday, March 31st will be paid a dividend of 0.25 per share by the real estate investment trust on Monday, April 20th. This represents a $1.00 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Monday, March 30th. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.23.
First Industrial Realty Trust has raised its dividend by an average of 3.1% per year over the last three years and has increased its dividend every year for the last 6 years. First Industrial Realty Trust has a payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect First Industrial Realty Trust to earn $1.83 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 50.3%.
First Industrial Realty Trust stock traded up $0.09 during trading hours on Friday, reaching $45.94. 11,313 shares of the company’s stock traded hands, compared to its average volume of 688,762. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 3.77 and a beta of 0.70. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. First Industrial Realty Trust has a fifty-two week low of $33.07 and a fifty-two week high of $46.03. The firm’s 50 day moving average is $42.61 and its 200-day moving average is $40.76.
First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.76 EPS for the quarter, topping the consensus estimate of $0.44 by $0.32. First Industrial Realty Trust had a net margin of 45.86% and a return on equity of 11.43%. The company had revenue of $110.76 million during the quarter, compared to analysts’ expectations of $108.51 million. During the same quarter in the previous year, the company earned $0.42 EPS. First Industrial Realty Trust’s revenue was up 5.4% on a year-over-year basis. Analysts predict that First Industrial Realty Trust will post 1.74 EPS for the current year.
Several analysts have issued reports on FR shares. Zacks Investment Research lowered shares of First Industrial Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, January 20th. BMO Capital Markets reduced their target price on First Industrial Realty Trust from $12.00 to $10.50 and set a “market perform” rating for the company in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. First Industrial Realty Trust currently has an average rating of “Hold” and an average target price of $33.70.
About First Industrial Realty Trust
First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.
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