CHICAGO, March 20, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, will host its first quarter 2024 results conference call on Thursday, April 18, 2024 at 10:00 a.m. CDT (11:00 a.m. EDT). The conference call may be accessed by dialing (877) 870-4263, passcode "First Industrial". The conference call will also be webcast live on the Investors page of the Company's website at www.firstindustrial.com.First In ...

CHICAGO, Feb. 29, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced that it will present at Citi's 2024 Global Property CEO Conference. The presentation is scheduled for Monday, March 4, 2024 at 3:35 p.m. EST (2:35 p.m. CST).A live webcast of the presentation will be available at www.firstindustrial.com under the Investors tab. A replay of the webcast will also be available through May 31, 2 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ Form 10-K _______________________________ (Exact name of Registrant as specified in its Charter) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13102 (First Industrial Re ...

First Industrial Realty Trust, Inc. (NYSE:FR) Q3 2023 Earnings Conference Call October 19, 2023 11:00 AM ET Company Participants Art Harmon - Vice President, Investor Relations & Marketing Peter Baccile - President & Chief Executive Officer Scott Musil - Chief Financial Officer Peter Schultz - Executive Vice President Jojo Yap - Chief Investment Officer Chris Schneider - Senior Vice President, Operations Conference Call Participants Rob Stevenson - Janney Ki Bin Kim - Truist Nicholas Yulico - Scotiabank Cra ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ Form 10-Q _______________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13102 (First Industrial Realty Trust, Inc.) 333-21873 (First Industrial, ...

MEDIA RELEASE • Cash Rental Rates Up 74.1% in 2Q23 • Cash Rental Rate Increase of 63% on Leases Signed To-Date Commencing in 2023 • Cash Same Store NOI Growth of 10.8% in 2Q23; Occupancy of 97.7% at Quarter-End • Renewed Largest 2024 Lease Rollover of 700,000 Square Feet • Signed 673,000 Square Feet of New Leases for Speculative Developments in the Second Quarter and Third Quarter To-Date Inclusive of Joint Venture • 2023 FFO Guidance Increased $0.01 at Midpoint to $2.35 to $2.43 Per Share/Unit Which Exclud ...

First Industrial Realty Trust, Inc. (NYSE:FR) Q2 2023 Earnings Conference Call July 20, 2023 11:00 AM ET Company Participants Art Harmon - Vice President, Investor Relations & Marketing Peter Baccile - President & Chief Executive Officer Scott Musil - Chief Financial Officer Jojo Yap - Chief Investment Officer Peter Schultz - Executive Vice President Chris Schneider - Senior Vice President, Operations Conference Call Participants Rob Stevenson - Janney Michael Carroll - RBC Capital Markets Craig Mailman - C ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ Form 10-Q _______________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13102 (First Industrial Realty Trust, Inc.) 333-21873 (First Industrial, L.P. ...

First Industrial Realty Trust, Inc. (NYSE:FR) Q1 2023 Earnings Conference Call April 20, 2023 11:00 AM ET Company Participants Arthur Harmon - VP, IR & Marketing Peter Baccile - President, CEO & Director Scott Musil - CFO, SVP, Treasurer & Assistant Secretary Peter Schultz - EVP Johannson Yap - Co-Founder, CIO & EVP, West Region Christopher Schneider - SVP, Operations & Chief Information Officer Conference Call Participants Ki Bin Kim - Truist Securities Robert Stevenson - Janney Montgomery Scott Todd Thom ...

[PART I: FINANCIAL INFORMATION](index=6&type=section&id=PART%20I%3A%20FINANCIAL%20INFORMATION) This section presents the company's financial information, including statements, management's discussion, market risk disclosures, and controls. [Financial Statements](index=6&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited consolidated financial statements, detailing the company's financial position, performance, and key activities. First Industrial Realty Trust, Inc. - Selected Financials (Q1 2023 vs Q1 2022) | Metric | Q1 2023 (in thousands) | Q1 2022 (in thousands) | Change | | :--- | :--- | :--- | :--- | | **Total Revenues** | $149,423 | $125,513 | +19.0% | | **Net Income** | $60,775 | $37,123 | +63.7% | | **Net Income to Common Stockholders** | $55,967 | $36,258 | +54.4% | | **Diluted EPS** | $0.42 | $0.27 | +55.6% | | **Net Cash from Operating Activities** | $70,318 | $59,898 | +17.4% | First Industrial Realty Trust, Inc. - Balance Sheet Summary | Account | March 31, 2023 (in thousands) | December 31, 2022 (in thousands) | | :--- | :--- | :--- | | Net Investment in Real Estate | $4,455,233 | $4,421,559 | | Total Assets | $4,950,852 | $4,954,322 | | Total Liabilities | $2,422,887 | $2,424,023 | | Total Equity | $2,527,965 | $2,530,299 | - As of March 31, 2023, the company owned **431 industrial properties** totaling approximately **65.7 million square feet** of gross leasable area (GLA) across 18 states[60](index=60&type=chunk) - During Q1 2023, the company acquired one industrial property for a total purchase price of **$6.0 million**, excluding transaction costs[66](index=66&type=chunk) - A joint venture in which the company holds a **43% interest** sold approximately **31 acres of land**, resulting in a gain on sale of **$40.0 million** for the JV, with the company's economic share of the gain being **$19.6 million** and an additional incentive fee of **$8.0 million** earned[74](index=74&type=chunk)[77](index=77&type=chunk) - As of March 31, 2023, the company had **11 development projects** under construction, totaling **3.6 million square feet** with an estimated remaining funding commitment of approximately **$258.9 million**[97](index=97&type=chunk) - Subsequent to the quarter end, the company acquired one industrial property for **$5.2 million** and sold one land parcel for **$1.1 million**[98](index=98&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=29&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's strong Q1 2023 operating performance, business strategies, financial results, and liquidity position. - Key business strategies include: - **Internal Growth**: Increasing revenues through higher rental rates on new/renewed leases and controlling expenses - **External Growth**: Developing and acquiring industrial properties, with a focus on 15 key logistics markets - **Portfolio Enhancement**: Upgrading the portfolio by selling assets with lower growth prospects and redeploying capital into higher-growth assets[110](index=110&type=chunk)[112](index=112&type=chunk) - Q1 2023 operational highlights include: - In-service occupancy was **98.7%** at quarter-end - Increased cash rental rates by **58.3%** on new and renewal leases commenced during the quarter - A joint venture sold **31 acres of land** for **$50 million**, generating a **$17.3 million** pro-rata share of the gain and a **$7.1 million** incentive fee for the company - The quarterly dividend was increased by **8.5%** to **$0.32 per share**[113](index=113&type=chunk)[114](index=114&type=chunk) Comparison of Revenues by Category (in thousands) | Category | Q1 2023 | Q1 2022 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Same Store Properties | $128,614 | $119,732 | $8,882 | 7.4% | | Acquired Properties | $2,497 | $134 | $2,363 | 1,763.4% | | (Re)Developments | $13,264 | $734 | $12,530 | 1,707.1% | | **Total Revenues** | **$149,423** | **$125,513** | **$23,910** | **19.0%** | - Interest expense increased by **$6.5 million (67.3%)** year-over-year, driven by a higher average debt balance (**$2.07 billion** vs **$1.69 billion**) and a higher weighted average interest rate (**3.94%** vs **3.29%**)[124](index=124&type=chunk) Q1 2023 Leasing Activity Summary | Lease Type | Leases Commenced | Square Feet (in 000's) | Straight Line Rent Growth | Weighted Avg. Term (Yrs) | | :--- | :--- | :--- | :--- | :--- | | New Leases | 24 | 1,194 | 121.1% | 5.5 | | Renewal Leases | 35 | 2,441 | 65.5% | 5.5 | | **Total / Weighted Avg.** | **65** | **3,954** | **85.3%** | **5.6** | - As of March 31, 2023, the company had approximately **$69.8 million** in cash and **$590.1 million** available for borrowing under its Unsecured Credit Facility, indicating strong liquidity[132](index=132&type=chunk) Funds From Operations (FFO) Reconciliation (in thousands) | Line Item | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Net Income Available to Common Stockholders | $55,967 | $36,258 | | Depreciation and Other Amortization of Real Estate | $39,527 | $33,680 | | Gain on Sale of Real Estate from JV | ($27,632) | $0 | | Other Adjustments | $9,753 | ($792) | | **FFO Available to Common Stockholders** | **$77,615** | **$69,146** | - Cash-basis Same Store Net Operating Income (SS NOI) grew **8.1%** in Q1 2023 compared to Q1 2022, increasing from **$86.2 million** to **$93.2 million**[158](index=158&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=40&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section outlines the company's market risk exposure, primarily from interest rate fluctuations, and its use of derivatives to mitigate such risks. - As of March 31, 2023, **92.5% ($1.93 billion)** of the company's total debt was fixed-rate, including variable-rate debt effectively fixed through swaps[145](index=145&type=chunk) - The company utilizes interest rate swaps with a total notional value of **$925.0 million** to manage interest rate risk on its Unsecured Term Loans, effectively converting them to fixed-rate obligations[91](index=91&type=chunk)[145](index=145&type=chunk) - A hypothetical **10%** increase in LIBOR and SOFR rates would have increased interest expense by approximately **$0.2 million** for Q1 2023, demonstrating limited exposure on its variable-rate debt[147](index=147&type=chunk) - The company is preparing for the cessation of LIBOR after June 30, 2023, and plans to modify its LIBOR-indexed debt agreements and swaps, not anticipating a material impact from the transition[144](index=144&type=chunk) [Controls and Procedures](index=43&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2023, with no material changes to internal control over financial reporting. - Management concluded that the disclosure controls and procedures for both the Company (First Industrial Realty Trust, Inc.) and the Operating Partnership (First Industrial, L.P.) were effective as of the end of the period covered by the report[162](index=162&type=chunk)[164](index=164&type=chunk) - There were no changes in internal control over financial reporting during the first quarter of 2023 that have materially affected, or are reasonably likely to materially affect, internal controls for either entity[163](index=163&type=chunk)[165](index=165&type=chunk) [PART II: OTHER INFORMATION](index=44&type=section&id=PART%20II%3A%20OTHER%20INFORMATION) This section covers other required disclosures, including legal proceedings, risk factors, equity sales, defaults, and exhibits. [Legal Proceedings](index=44&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no legal proceedings during the period. - None reported[167](index=167&type=chunk) [Risk Factors](index=44&type=section&id=Item%201A.%20Risk%20Factors) No material changes were reported to the risk factors previously disclosed in the 2022 Annual Report on Form 10-K. - No material changes were reported to the risk factors disclosed in the 2022 Annual Report on Form 10-K[168](index=168&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities or specific use of proceeds. - None reported[169](index=169&type=chunk) [Defaults Upon Senior Securities](index=44&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities. - None reported[169](index=169&type=chunk) [Other Information](index=44&type=section&id=Item%205.%20Other%20Information) The company reported no other information required to be disclosed under this item. - None reported[169](index=169&type=chunk) [Exhibits](index=44&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including officer certifications and interactive data files. - The exhibits filed with the report are listed in the Exhibit Index, including certifications by the Principal Executive Officer and Principal Financial Officer[169](index=169&type=chunk)[171](index=171&type=chunk)