First Industrial Realty Trust, Inc. (NYSE:FR) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Investors of record on Friday, June 28th will be given a dividend of 0.23 per share by the real estate investment trust on Monday, July 15th. This represents a $0.92 annualized dividend and a yield of 2.53%. The ex-dividend date is Thursday, June 27th.
First Industrial Realty Trust has raised its dividend payment by an average of 21.2% annually over the last three years and has raised its dividend every year for the last 5 years. First Industrial Realty Trust has a dividend payout ratio of 57.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Industrial Realty Trust to earn $1.81 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 50.8%.
Shares of NYSE FR opened at $36.43 on Wednesday. The company has a 50-day moving average price of $35.56. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust has a one year low of $27.30 and a one year high of $37.53. The stock has a market capitalization of $4.64 billion, a P/E ratio of 22.77, a P/E/G ratio of 3.36 and a beta of 0.72.
First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). First Industrial Realty Trust had a net margin of 36.88% and a return on equity of 9.05%. The firm had revenue of $104.50 million during the quarter, compared to analysts’ expectations of $104.68 million. During the same quarter last year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts forecast that First Industrial Realty Trust will post 1.71 EPS for the current fiscal year.
A number of research analysts have commented on the company. Zacks Investment Research upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Wednesday, June 5th. Goldman Sachs Group assumed coverage on First Industrial Realty Trust in a research note on Wednesday, May 15th. They issued a “buy” rating and a $38.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $32.25.
About First Industrial Realty Trust
First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.
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