First Industrial Realty Trust, Inc. (FR) To Go Ex-Dividend on December 31st

First Industrial Realty Trust, Inc. (NYSE:FR) announced a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.37 per share by the real estate investment trust on Tuesday, January 21st. This represents a $1.48 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Tuesday, December 31st.

First Industrial Realty Trust has raised its dividend by an average of 8.6% annually 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 93.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research 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 Trading Down 1.3 %

First Industrial Realty Trust stock opened at $50.37 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11. First Industrial Realty Trust has a fifty-two week low of $45.10 and a fifty-two week high of $57.35. The stock has a market cap of $6.67 billion, a P/E ratio of 21.62 and a beta of 1.07. The firm’s fifty day moving average price is $52.69 and its 200-day moving average price is $52.94.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $167.60 million for the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 EPS. Equities research analysts forecast that First Industrial Realty Trust will post 2.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FR has been the subject of a number of research reports. Barclays cut their price target on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Mizuho increased their target price on First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Finally, KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $57.83.

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.