On 3/13/13, First Industrial Realty Trust, Inc.’s 7.25% Series K Cumulative Redeemable Preferred Stock (NYSE: FR.PRK) will trade ex-dividend, for its quarterly dividend of $0.4531, payable on 4/1/13. As a percentage of FR.PRK‘s recent share price of $25.44, this dividend works out to approximately 1.78%, so look for shares of FR.PRK to trade 1.78% lower ? all else being equal ? when FR.PRK shares open for trading on 3/13/13. On an annualized basis, the current yield is approximately 7.14%, which compares to an average yield of 6.49% in the “Real Estate” preferred stock category, according to Preferred Stock Channel.
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Source: FULL ARTICLE at Forbes Markets