First Industrial Realty Trust, Inc. (NYSE:FR) Announces Dividend Increase – $0.45 Per Share

First Industrial Realty Trust, Inc. (NYSE:FR) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37.

First Industrial Realty Trust has increased its dividend payment by an average of 11.1% 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 dividend payout ratio of 86.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Price Performance

First Industrial Realty Trust stock opened at $54.87 on Friday. The company has a 50-day moving average price of $51.58 and a 200 day moving average price of $53.50. First Industrial Realty Trust has a 12-month low of $45.10 and a 12-month high of $57.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The stock has a market cap of $7.26 billion, a P/E ratio of 23.55 and a beta of 1.09.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. Sell-side analysts anticipate that First Industrial Realty Trust will post 2.64 earnings per share for the current year.

Analyst Ratings Changes

FR has been the subject of several recent research reports. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target on the stock. Finally, Barclays cut their price target on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $57.38.

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.