First Industrial Realty Trust (NYSE:FR – Get Free Report) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08, Zacks reports. First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The firm had revenue of $167.60 million for the quarter, compared to analysts’ expectations of $164.01 million. During the same period in the prior year, the business posted $0.62 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. First Industrial Realty Trust updated its FY24 guidance to $2.61-2.65 EPS and its FY 2024 guidance to 2.610-2.650 EPS.
First Industrial Realty Trust Price Performance
Shares of First Industrial Realty Trust stock opened at $55.91 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.16. First Industrial Realty Trust has a 52-week low of $40.44 and a 52-week high of $57.35. The company has a fifty day moving average of $55.39 and a 200-day moving average of $51.18. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of 25.76 and a beta of 1.08.
First Industrial Realty Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.65%. First Industrial Realty Trust’s payout ratio is 68.20%.
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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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