First Industrial Realty Trust, Inc. (NYSE:FR) announced a quarterly dividend on Thursday, August 3rd, Wall Street Journal reports. Shareholders of record on Friday, September 29th will be paid a dividend of 0.21 per share by the real estate investment trust on Monday, October 16th. This represents a $0.84 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, September 28th.

First Industrial Realty Trust has increased its dividend by an average of 39.9% per year over the last three years and has raised its dividend every year for the last 3 years. First Industrial Realty Trust has a dividend payout ratio of 54.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Industrial Realty Trust to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 51.5%.

Shares of First Industrial Realty Trust (FR) opened at 30.84 on Friday. First Industrial Realty Trust has a one year low of $24.85 and a one year high of $31.83. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 31.41 and a beta of 1.00. The firm has a 50-day moving average of $30.65 and a 200-day moving average of $28.86.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.18. First Industrial Realty Trust had a net margin of 29.91% and a return on equity of 8.88%. The business had revenue of $97.60 million for the quarter, compared to the consensus estimate of $97.62 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts forecast that First Industrial Realty Trust will post $0.82 EPS for the current fiscal year.

Several brokerages have recently weighed in on FR. KeyCorp reissued a “hold” rating on shares of First Industrial Realty Trust in a research note on Friday, August 25th. Stifel Nicolaus reissued a “buy” rating and issued a $31.50 target price on shares of First Industrial Realty Trust in a research note on Friday, July 14th. Zacks Investment Research raised shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. BidaskClub raised shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $32.00 target price (up previously from $30.00) on shares of First Industrial Realty Trust in a research note on Thursday, August 24th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $30.60.

In other news, EVP David Harker sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $30.45, for a total value of $609,000.00. Following the transaction, the executive vice president now directly owns 118,470 shares in the company, valued at $3,607,411.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bruce W. Duncan sold 16,855 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $31.50, for a total transaction of $530,932.50. Following the completion of the transaction, the director now owns 917,530 shares in the company, valued at $28,902,195. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,279 shares of company stock worth $3,004,548. Company insiders own 1.83% of the company’s stock.

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About First Industrial Realty Trust

First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.

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

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