First Industrial Realty Trust, Inc. (NYSE:FR) Announces Dividend Increase - $0.45 Per Share

First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Shareholders 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 yield of 3.23%. The ex-dividend date is Monday, March 31st. This is a positive change from First Industrial Realty Trust's previous quarterly dividend of $0.37.

First Industrial Realty Trust has raised its dividend payment by an average of 11.1% per year 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 tumble. Analysts expect First Industrial Realty Trust to earn $3.09 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 47.9%.

First Industrial Realty Trust Trading Up 0.2 %

Shares of First Industrial Realty Trust stock traded up $0.13 during trading on Monday, hitting $55.03. 1,751,208 shares of the company were exchanged, compared to its average volume of 1,153,677. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. The firm has a market capitalization of $7.28 billion, a P/E ratio of 25.24 and a beta of 1.09. The firm's fifty day moving average price is $51.61 and its 200 day moving average price is $53.50. First Industrial Realty Trust has a 1-year low of $45.10 and a 1-year high of $57.35.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. As a group, sell-side analysts expect that First Industrial Realty Trust will post 2.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on FR shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They issued a "hold" rating and a $52.00 price objective for the company. KeyCorp upgraded First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a report on Tuesday, December 17th. Finally, Barclays cut their price objective on 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. 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, the company has an average 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.