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

First Industrial Realty Trust, Inc. (NYSE:FR) announced 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 dividend on an annualized basis and a dividend 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% annually over the last three years and has raised its dividend every year for the last 11 years. First Industrial Realty Trust has a 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 decline. 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

FR opened at $55.13 on Friday. First Industrial Realty Trust has a twelve month low of $45.10 and a twelve month high of $57.35. The firm 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 current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The company has a fifty day simple moving average of $51.56 and a 200 day simple moving average of $53.49.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (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 expect that First Industrial Realty Trust will post 2.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FR has been the topic of several recent analyst 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 on the stock in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft assumed coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 target price for the company. Finally, KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.