First Industrial Realty Trust, Inc. (FR) to Issue Quarterly Dividend of $0.27 on October 18th

First Industrial Realty Trust, Inc. (NYSE:FR) declared a quarterly dividend on Friday, August 6th, Zacks reports. Shareholders of record on Thursday, September 30th will be paid a dividend of 0.27 per share by the real estate investment trust on Monday, October 18th. This represents a $1.08 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, September 29th.

First Industrial Realty Trust has raised its dividend payment by 19.1% over the last three years and has raised its dividend annually for the last 7 consecutive years. First Industrial Realty Trust has a dividend payout ratio of 73.8% meaning its dividend is sufficiently covered by earnings. Analysts expect First Industrial Realty Trust to earn $2.08 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 50.0%.

Shares of NYSE:FR traded up $0.10 during trading on Monday, reaching $53.25. The stock had a trading volume of 648 shares, compared to its average volume of 1,040,344. The firm’s fifty day moving average is $54.80 and its 200 day moving average is $51.64. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.16 and a current ratio of 1.16. First Industrial Realty Trust has a 52 week low of $38.85 and a 52 week high of $56.90. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of 29.36 and a beta of 0.87.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Tuesday, July 20th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.07). First Industrial Realty Trust had a net margin of 50.60% and a return on equity of 11.96%. The firm had revenue of $117.40 million during the quarter, compared to the consensus estimate of $115.71 million. During the same period in the prior year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, research analysts forecast that First Industrial Realty Trust will post 1.93 earnings per share for the current fiscal year.

An institutional investor recently raised its position in First Industrial Realty Trust stock. Morgan Stanley increased its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 146.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 358,812 shares of the real estate investment trust’s stock after buying an additional 213,252 shares during the quarter. Morgan Stanley owned 0.28% of First Industrial Realty Trust worth $18,740,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Several research analysts recently issued reports on FR shares. Barclays started coverage on shares of First Industrial Realty Trust in a research note on Wednesday, September 1st. They set an “overweight” rating and a $65.00 target price on the stock. Wolfe Research began coverage on shares of First Industrial Realty Trust in a research note on Monday, June 14th. They set a “peer perform” rating and a $54.00 target price on the stock. Truist Securities upped their price objective on shares of First Industrial Realty Trust from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Saturday, July 31st. Zacks Investment Research downgraded shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Mizuho restated a “buy” rating and set a $54.00 price objective on shares of First Industrial Realty Trust in a report on Wednesday, July 14th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $52.59.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc operates as a real estate investment trust. It engages in the ownership, management, acquisition, sale, development and redevelopment of industrial real estate. The firm product portfolio includes bulk warehouse, regional warehouse, R&D/flex, and light industrial properties.

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Dividend History for First Industrial Realty Trust (NYSE:FR)

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