First Industrial Realty Trust, Inc. (NYSE:FR) Shares Set to Pay Quarterly Dividend of $0.50

First Industrial Realty Trust, Inc. (NYSE:FR) announced a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Thursday, December 31st will be paid a dividend of $0.50 per share by the real estate investment trust on Tuesday, January 19th. This represents a $2.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Thursday, December 31st.

First Industrial Realty Trust has raised its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 12 years. First Industrial Realty Trust has a payout ratio of 117.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect First Industrial Realty Trust to earn $3.41 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 58.7%.

First Industrial Realty Trust Price Performance

FR stock opened at $55.24 on Wednesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 20.64 and a beta of 1.01. First Industrial Realty Trust has a 1 year low of $54.16 and a 1 year high of $69.88. The company has a 50 day simple moving average of $59.66 and a 200 day simple moving average of $61.30.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.38). First Industrial Realty Trust had a net margin of 46.12% and a return on equity of 12.60%. The company had revenue of $197.12 million during the quarter, compared to the consensus estimate of $196.41 million. During the same quarter last year, the firm posted $0.76 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Research analysts anticipate that First Industrial Realty Trust will post 3.15 EPS for the current fiscal year.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a real estate investment trust focused on the ownership, management, acquisition, development and redevelopment of industrial properties in the United States. Its portfolio primarily serves businesses that require space for distribution, warehousing, manufacturing, light industrial operations and other logistics-related activities.

The company leases its properties to a diverse group of tenants, including retailers, manufacturers, logistics providers and third-party distribution companies.