First Industrial Realty Trust, Inc. (FR) to Distribute Quarterly Dividend of $0.50 on July 20th

First Industrial Realty Trust, Inc. (NYSE:FR) announced a quarterly dividend on Thursday, April 30th. Investors of record on Tuesday, June 30th will be paid a dividend of 0.50 per share by the real estate investment trust on Monday, July 20th. This represents a c) annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, June 30th.

First Industrial Realty Trust has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 12 years. First Industrial Realty Trust has a dividend 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. Analysts expect First Industrial Realty Trust to earn $3.42 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 58.5%.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR opened at $63.53 on Friday. The business’s 50-day moving average price is $62.33 and its two-hundred day moving average price is $60.31. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.04 and a quick ratio of 1.04. First Industrial Realty Trust has a one year low of $47.36 and a one year high of $64.66. The company has a market capitalization of $8.42 billion, a P/E ratio of 24.62 and a beta of 1.05.

Institutional Investors Weigh In On First Industrial Realty Trust

A number of large investors have recently added to or reduced their stakes in the stock. Measured Wealth Private Client Group LLC bought a new position in shares of First Industrial Realty Trust in the third quarter valued at approximately $26,000. Parallel Advisors LLC grew its stake in First Industrial Realty Trust by 86.9% in the 4th quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 291 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in First Industrial Realty Trust by 64.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 301 shares during the period. Danske Bank A S bought a new stake in First Industrial Realty Trust during the third quarter valued at about $51,000. Finally, Parkside Financial Bank & Trust boosted its holdings in First Industrial Realty Trust by 27.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,231 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 262 shares during the period. Institutional investors own 99.85% of the company’s stock.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.