First Industrial Realty Trust, Inc. (NYSE:FR) Shares 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 given 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 of this dividend is Thursday, December 31st.

First Industrial Realty Trust has increased its dividend by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. First Industrial Realty Trust has a dividend payout ratio of 117.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Trading Down 0.1%

First Industrial Realty Trust stock traded down $0.07 during mid-day trading on Wednesday, hitting $54.84. 27,528 shares of the stock were exchanged, compared to its average volume of 1,120,525. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 20.41 and a beta of 1.01. First Industrial Realty Trust has a 12 month low of $54.16 and a 12 month high of $69.88. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.92. The firm’s fifty day simple moving average is $59.66 and its two-hundred day simple moving average is $61.30.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data 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 firm had revenue of $197.12 million during the quarter, compared to the consensus estimate of $196.41 million. During the same period in the prior year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts forecast that First Industrial Realty Trust will post 3.15 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FR. Kestra Advisory Services LLC lifted its position in First Industrial Realty Trust by 105.4% during the third quarter. Kestra Advisory Services LLC now owns 10,014 shares of the real estate investment trust’s stock valued at $596,000 after purchasing an additional 5,138 shares during the last quarter. Platform Technology Partners bought a new position in shares of First Industrial Realty Trust in the 3rd quarter worth $202,000. Covestor Ltd increased its holdings in shares of First Industrial Realty Trust by 250.8% in the 3rd quarter. Covestor Ltd now owns 414 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 296 shares during the last quarter. MGO One Seven LLC increased its holdings in shares of First Industrial Realty Trust by 7.5% in the 3rd quarter. MGO One Seven LLC now owns 6,136 shares of the real estate investment trust’s stock worth $365,000 after buying an additional 428 shares during the last quarter. Finally, Choreo LLC raised its position in shares of First Industrial Realty Trust by 18.1% during the 3rd quarter. Choreo LLC now owns 10,663 shares of the real estate investment trust’s stock valued at $635,000 after buying an additional 1,638 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

About First Industrial Realty Trust

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.