First Industrial Realty Trust, Inc. (NYSE:FR) Plans Quarterly Dividend of $0.45

First Industrial Realty Trust, Inc. (NYSE:FR) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Investors of record on Monday, March 31st will be paid 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 yield of 3.23%. 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 by an average of 11.1% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. First Industrial Realty Trust has a dividend payout ratio of 86.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities 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 Stock Performance

FR traded up $1.33 on Thursday, hitting $55.13. 6,191,532 shares of the stock traded hands, compared to its average volume of 1,100,405. First Industrial Realty Trust has a 52 week low of $45.10 and a 52 week high of $57.35. The firm has a market capitalization of $7.30 billion, a PE ratio of 23.66 and a beta of 1.09. The business has a fifty day moving average price of $51.56 and a two-hundred day moving average price of $53.49. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the consensus estimate 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%. On average, research analysts predict that First Industrial Realty Trust will post 2.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target on the stock. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Finally, Barclays reduced their price objective on 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. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, First Industrial Realty Trust currently has a consensus rating of “Hold” and an average target price of $57.38.

About First Industrial Realty Trust

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.