CHICAGO, Aug. 1, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of industrial real estate, today announced that its board of directors declared a common stock dividend of $0.37 per share/unit for the quarter ending September 30, 2024 payable on October 21, 2024 to stockholders of record on September 30, 2024. About First Industrial Realty Trust, Inc. First Industrial Realty Trust, Inc. (NYSE: FR) is a leading U.S.-only owner, ope ...

Irrespective of whether it is a start-up or a celebrated company, earnings growth is the top priority for any organization. This is because if the company doesn't make money, it won't survive. To shortlist stocks that have striking earnings growth and positive estimate revisions, we analyzed the following parameters: % Change EPS F(0)/F(-1) greater than or equal to 5 (companies that saw year-over-year earnings growth of 5% or more in the last reported fiscal). % Change F1 Estimates over the last 4 weeks gre ...

The following discussion about our risk-management activities includes "forward-looking statements" that involve risk and uncertainties. Actual results could differ materially from those projected in the forward-looking statements. Our business subjects us to market risk from interest rates, as described below. The following analysis presents the hypothetical gain or loss in earnings, cash flows or fair value of the financial instruments and derivative instruments that are held by us at June 30, 2024 that a ...

Financial Data and Key Metrics Changes - NAREIT funds from operations (FFO) were $0.66 per fully diluted share compared to $0.61 per share in Q2 2023, indicating a year-over-year increase [27] - Cash same-store NOI growth for the quarter, excluding termination fees, was 5.6%, driven by increases in rental rates on new and renewal leasing [27] - Updated guidance for FFO is now $2.59 to $2.67 per share, which is $0.03 higher at the midpoint than prior guidance [28] Business Line Data and Key Metrics Changes - In the second quarter, approximately 2.9 million square feet of leases commenced, including 500,000 new leases, 1.2 million renewals, and 1.2 million for developments and acquisitions with lease-up [16] - The company signed six speculative development leases totaling approximately 1.1 million square feet, which is almost half of the 2.3 million square feet included in the updated 2024 FFO guidance [5][10] Market Data and Key Metrics Changes - The U.S. industrial market vacancy increased by 40 basis points to 5.7% as last year's starts continue to come online [8] - Year-to-date net absorption nationally was 70 million square feet, with 48 million within the company's target markets [9] - The South Florida market continues to outperform, with a third of the newly completed First Park Miami Building already leased [12] Company Strategy and Development Direction - The company is focused on leasing in 2024, with significant leasing wins in both core portfolio and development projects [7] - New projects are being initiated in South Florida and Houston, with expected cash yields of approximately 7% [13][14] - The company is committed to maintaining a strong capital position with no debt maturities until 2026 [16] Management's Comments on Operating Environment and Future Outlook - Management noted that while demand is improving, decision-making remains deliberate, and it is still early to determine the sustainability of this demand [56] - The national pipeline for industrial space has decreased to about 289 million square feet from a high of over 600 million, indicating a tightening market [58] - Management expressed optimism about the potential for net absorption to continue improving as the year progresses [58] Other Important Information - The company has sold an incremental $90 million of assets in the second quarter and third quarter to date, bringing the year-to-date total to $138 million [26] - The guidance for G&A expenses is set at $39.5 million to $40.5 million, including approximately $3 million in accelerated expenses [18] Q&A Session Summary Question: Health of the disposition market today versus last year - Management indicated that there is significant capital searching for new opportunities, with a strong number of NDAs and bids for assets being sold [37] Question: 200 basis points of occupancy upside from leasing - This occupancy upside is in addition to the leasing announced in the release and on the call, with expectations for further leasing in the fourth quarter [38] Question: Difference in yield for multi-tenant versus single-tenant leasing - The yield difference depends on the market and asset, with some cases showing a slight advantage for multi-tenant but not significantly [39][50] Question: Comments on leasing demand and sustainability - Management noted that while there is an uptick in inquiries and inspections, the pace of demand remains cautious, and long-term conclusions should not be drawn from one quarter of activity [56] Question: Opportunities in acquisition markets - The market remains competitive with abundant capital, and there is an active investment pace compared to previous quarters [59] Question: Trends in Southern California market - The market is very active, particularly for smaller spaces, while larger spaces are experiencing more supply and slower activity [98][100]

First Industrial Realty Trust (FR) came out with quarterly funds from operations (FFO) of $0.66 per share, beating the Zacks Consensus Estimate of $0.64 per share. This compares to FFO of $0.61 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of 3.13%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.62 per share when it actually produced FFO of $0.60, delivering a surprise of -3.23%. Over the ...

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CHICAGO, July 17, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced results for the second quarter of 2024. First Industrial's diluted net income available to common stockholders per share (EPS) was $0.39 in the second quarter, compared to $0.41 a year ago and second quarter funds from operations (FFO) was $0.66 per share/unit on a diluted basis, compared to $0.61 per share/unit a year ago. ...

Headquartered in Chicago, First Industrial Realty Trust (FR) is a Finance stock that has seen a price change of -3.42% so far this year. Currently paying a dividend of $0.37 per share, the company has a dividend yield of 2.91%. In comparison, the REIT and Equity Trust - Other industry's yield is 4.41%, while the S&P 500's yield is 1.53%. Investors like dividends for a variety of different reasons, from tax advantages and decreasing overall portfolio risk to considerably improving stock investing profits. Ho ...

First Industrial (NYSE:FR) is a quality REIT that has seen its fair share of volatility in comparison to their industrial peers over the past several months. The company has a long operating history having been founded in 1994. With interest rates likely to decline soon, long-term investors should consider this REIT as they have been performing exceptionally over the past few years. In this article I discuss the company's latest earnings, fundamentals, performance against peers, and why the recent dip has p ...

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. Our portfolio and new investments are concentrated in 15 target MSAs with an emphasis on supply-constrained, coastally oriented markets. In total, w ...