First Industrial Realty Trust, Inc. (NYSE:FR) Plans Quarterly Dividend of $0.37

First Industrial Realty Trust, Inc. (NYSE:FRGet 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

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of First Industrial Realty Trust by 1.8% during the first quarter. Vanguard Group Inc. now owns 19,203,142 shares of the real estate investment trust’s stock worth $1,188,867,000 after purchasing an additional 338,812 shares in the last quarter. State Street Corp grew its holdings in First Industrial Realty Trust by 1.1% during the first quarter. State Street Corp now owns 7,315,813 shares of the real estate investment trust’s stock worth $391,494,000 after acquiring an additional 79,479 shares during the period. Nomura Holdings Inc. increased its holdings in shares of First Industrial Realty Trust by 192.7% in the 1st quarter. Nomura Holdings Inc. now owns 3,088,269 shares of the real estate investment trust’s stock valued at $164,296,000 after purchasing an additional 2,033,000 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of First Industrial Realty Trust by 92.2% in the first quarter. JPMorgan Chase & Co. now owns 2,799,425 shares of the real estate investment trust’s stock valued at $148,929,000 after purchasing an additional 1,342,783 shares during the period. Finally, Morgan Stanley boosted its holdings in First Industrial Realty Trust by 16.2% during the third quarter. Morgan Stanley now owns 2,172,699 shares of the real estate investment trust’s stock worth $103,399,000 after buying an additional 302,981 shares in the last quarter. 98.36% of the stock is owned by institutional investors and hedge funds.

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.

View Our Latest Analysis on FR

About First Industrial Realty Trust

(Get Free Report)

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.

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Dividend History for First Industrial Realty Trust (NYSE:FR)

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