First Industrial Realty Trust, Inc. (NYSE:FR) Shareholders Set to Receive $0.50 Quarterly Dividend

First Industrial Realty Trust, Inc. (NYSE:FR) announced a quarterly dividend on Tuesday, November 3rd. Investors of record on Thursday, December 31st will be given a dividend of $0.50 per share by the real estate investment trust on Tuesday, January 19th. This represents a $2.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Thursday, December 31st.

First Industrial Realty Trust has raised its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. First Industrial Realty Trust has a payout ratio of 117.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect First Industrial Realty Trust to earn $3.41 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 58.7%.

First Industrial Realty Trust Trading Up 0.6%

First Industrial Realty Trust stock opened at $55.24 on Wednesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.06 and a current ratio of 1.06. The firm’s 50-day moving average is $59.66 and its 200-day moving average is $61.30. First Industrial Realty Trust has a 1 year low of $54.16 and a 1 year high of $69.88. The company has a market cap of $7.32 billion, a P/E ratio of 20.64 and a beta of 1.01.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.38). The company had revenue of $197.12 million during the quarter, compared to analyst estimates of $196.41 million. First Industrial Realty Trust had a return on equity of 12.60% and a net margin of 46.12%. First Industrial Realty Trust’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.76 earnings per share. On average, equities analysts expect that First Industrial Realty Trust will post 3.15 earnings per share for the current year.

Institutional Investors Weigh In On First Industrial Realty Trust

A number of hedge funds have recently made changes to their positions in FR. Sequoia Financial Advisors LLC grew its holdings in First Industrial Realty Trust by 2.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 8,184 shares of the real estate investment trust’s stock worth $473,000 after acquiring an additional 163 shares during the last quarter. Arizona State Retirement System grew its stake in shares of First Industrial Realty Trust by 0.6% during the second quarter. Arizona State Retirement System now owns 36,580 shares of the real estate investment trust’s stock worth $2,243,000 after purchasing an additional 207 shares during the period. North Dakota State Investment Board boosted its position in shares of First Industrial Realty Trust by 6.1% during the third quarter. North Dakota State Investment Board now owns 4,039 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 233 shares in the last quarter. Versant Capital Management Inc grew its position in shares of First Industrial Realty Trust by 2.9% in the 3rd quarter. Versant Capital Management Inc now owns 8,525 shares of the real estate investment trust’s stock valued at $508,000 after purchasing an additional 242 shares during the period. Finally, Azzad Asset Management Inc. ADV raised its stake in shares of First Industrial Realty Trust by 3.3% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 8,669 shares of the real estate investment trust’s stock valued at $502,000 after purchasing an additional 274 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a real estate investment trust focused on the ownership, management, acquisition, development and redevelopment of industrial properties in the United States. Its portfolio primarily serves businesses that require space for distribution, warehousing, manufacturing, light industrial operations and other logistics-related activities.

The company leases its properties to a diverse group of tenants, including retailers, manufacturers, logistics providers and third-party distribution companies.