First Industrial Realty Trust, Inc. (NYSE:FR) Increases Dividend to $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 3.23%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost 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% 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 Price Performance

Shares of NYSE:FR opened at $55.13 on Friday. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 23.66 and a beta of 1.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11. First Industrial Realty Trust has a 12 month low of $45.10 and a 12 month high of $57.35. The stock’s 50 day moving average price is $51.56 and its 200 day moving average price is $53.49.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FR shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price objective for the company. Barclays reduced their target price on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. Finally, KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.