First Industrial Realty Trust, Inc. (NYSE:FR – Get Free Report) announced a quarterly dividend on Thursday, February 8th, Wall Street Journal reports. Investors of record on Thursday, March 28th will be paid a dividend of 0.37 per share by the real estate investment trust on Monday, April 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.32.
First Industrial Realty Trust has increased its dividend by an average of 8.6% per year over the last three years and has increased its dividend every year for the last 10 years. First Industrial Realty Trust has a dividend payout ratio of 81.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect First Industrial Realty Trust to earn $2.88 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 44.4%.
First Industrial Realty Trust Stock Performance
Shares of FR stock opened at $53.57 on Friday. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of 25.88 and a beta of 1.02. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.84. The stock has a fifty day moving average of $52.09 and a 200 day moving average of $49.33. First Industrial Realty Trust has a 52 week low of $40.44 and a 52 week high of $55.22.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
FR has been the topic of a number of research analyst reports. TheStreet upgraded shares of First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Wells Fargo & Company started coverage on shares of First Industrial Realty Trust in a report on Thursday, December 7th. They issued an “equal weight” rating for the company. Truist Financial reduced their price target on First Industrial Realty Trust from $60.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, October 24th. Mizuho upped their price objective on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Finally, The Goldman Sachs Group boosted their target price on First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a “sell” rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $54.38.
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.
- Five stocks we like better than First Industrial Realty Trust
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- These cyber security stocks can hit new highs
- How to Buy Gold Stock and Invest in Gold
- Arm Holdings: Earnings strength as clouds gather on the horizon
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- New York Community Bank stock plummets amid real estate risks
Receive News & Ratings for First Industrial Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Industrial Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.