First Industrial Realty Trust, Inc. (NYSE:FR) Announces Quarterly Dividend of $0.45

Key Points

• First Industrial Realty Trust, Inc. announced a quarterly dividend of $0.45 per share, with a dividend yield of 3.7%, set to be paid on October 20th to investors of record as of September 30th.
• The company has a payout ratio of 104.1%, indicating it cannot fully cover its dividends with earnings alone but expects to achieve a more sustainable 57.4% payout ratio in the future as earnings increase.
• First Industrial Realty Trust reported earnings of $0.76 per share for its last quarter, exceeding analysts' expectations, alongside a year-over-year revenue increase of 9.8%.

First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report) announced a quarterly dividend on Tuesday, August 12th, RTT News reports. Investors of record on Tuesday, September 30th will be paid a dividend of 0.445 per share by the real estate investment trust on Monday, October 20th. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%.

First Industrial Realty Trust has a payout ratio of 104.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect First Industrial Realty Trust to earn $3.10 per share next year, which means the company should continue to be able to cover its $1.78 annual dividend with an expected future payout ratio of 57.4%.

First Industrial Realty Trust Trading Up 1.5%

First Industrial Realty Trust stock traded up $0.72 during midday trading on Tuesday, reaching $48.30. 484,554 shares of the stock traded hands, compared to its average volume of 1,284,050. The company has a 50-day simple moving average of $49.17 and a two-hundred day simple moving average of $50.84. First Industrial Realty Trust has a 12-month low of $40.31 and a 12-month high of $58.17. The firm has a market cap of $6.40 billion, a PE ratio of 23.56 and a beta of 1.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.04. The business had revenue of $180.16 million during the quarter, compared to analysts' expectations of $176.46 million. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%. The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 EPS. Research analysts expect that First Industrial Realty Trust will post 2.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its holdings in shares of First Industrial Realty Trust by 93.0% in the first quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 225 shares during the period. Alpine Bank Wealth Management acquired a new position in First Industrial Realty Trust during the first quarter worth $26,000. Parallel Advisors LLC grew its holdings in First Industrial Realty Trust by 285.1% during the first quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock worth $60,000 after acquiring an additional 821 shares during the period. True Wealth Design LLC grew its holdings in First Industrial Realty Trust by 988.7% during the second quarter. True Wealth Design LLC now owns 1,252 shares of the real estate investment trust's stock worth $60,000 after acquiring an additional 1,137 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in First Industrial Realty Trust during the first quarter worth $69,000. 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 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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