First Industrial Realty Trust

First Industrial Realty Trust, Inc. operates as a real estate investment trust. It engages in the ownership, management, acquisition, sale, development and redevelopment of industrial real estate. The firm product portfolio includes bulk warehouse, regional warehouse, R&D/flex, and light industrial properties. The company was founded by Johannson L. Yap, Robert L. Denton, Sr., and Jay H. Shidler on August 10, 1993, and is headquartered in Chicago, IL.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

First Industrial Realty Trust posts record occupancy and growth outlook

First Industrial Realty Trust's Q4 2022 performance reflects strong operational metrics and financial health, with positive outlook for future earnings.
While facing challenges such as declining land values and potential delays, the company's strategic strengths and opportunities position it well for growth.
Active leasing discussions, market demand, and focus on key markets offer avenues for revenue growth and portfolio expansion.
Overall, First Industrial Realty Trust demonstrates resilience and strategic foresight in navigating market dynamics and maximizing shareholder value.

First Industrial Realty Trust (FR) reports record Q1 performance and eyes growth amidst market challenges

First Industrial Realty Trust (FR) showcases robust performance in Q1 2023, driven by high occupancy rates, leasing success, and development activities. Despite challenges in moderated rent growth and a challenging acquisition market, the company's strong balance sheet and market focus present growth opportunities. Leveraging demand trends and funding options can further enhance future performance.

First Industrial Realty Trust exceeds Q2 expectations with record rental rates

First Industrial Realty Trust delivered a strong performance in Q2 2023, surpassing expectations with high occupancy rates and record-setting rental rate increases. While facing challenges in financing and market dynamics, the company is well-positioned to capitalize on growth opportunities through lease escalations and strong rent growth trends.

First Industrial Realty Trust (FR) reports strong Q3 performance

First Industrial Realty Trust (FR) demonstrated strong performance in leasing activities and cash rental rate growth in Q3 2023.
While facing challenges such as uncertain contract award timing and land value decreases, the company maintained low bad debt and active leasing demand.
Opportunities lie in potential joint ventures in data centers, consistent demand for space, and market dynamics supporting growth.
Overall, FR's performance reflects resilience and strategic positioning in the real estate market.

First Industrial Realty Trust exceeds 2023 expectations and eyes growth opportunities

First Industrial Realty Trust delivered strong financial results, exceeding expectations and providing optimistic guidance for 2024, supported by robust leasing activities and strategic investments.
The company's focus on multi-tenanted buildings, diverse leasing progress, and adaptability to market trends position it well for growth and resilience in the industrial real estate sector.
While facing challenges in a competitive acquisition landscape and cost pressures, First Industrial Realty Trust can leverage opportunities in new developments, build-to-suit projects, and high barrier markets for future success.
Overall, the company's performance reflects operational strength, strategic foresight, and responsiveness to market dynamics, signaling a promising outlook for continued growth and value creation.

First Industrial Realty Trust (FR) reports strong Q1 performance

First Industrial Realty Trust (FR) delivered a solid performance in Q1 2024, with strong leasing activity and positive market indicators. Challenges include tenant decision delays and difficulty in projecting lease-up timing for developments. Opportunities exist in data center demand and robust market activity.

First Industrial Realty Trust excels in Q2 with strong leasing wins and growth initiatives

First Industrial Realty Trust delivered a solid performance in Q2 2024 with leasing successes and new projects driving growth. While facing challenges such as market vacancy increases, the company's strategic disposals and updated FFO guidance reflect a proactive approach to enhancing shareholder value.

First Industrial Realty Trust excels in Q3 amidst market challenges

First Industrial Realty Trust's Q3 2024 earnings call highlighted strong performance metrics, active development activities, and strategic portfolio management. While facing challenges such as market vacancy increases and regulatory impacts, the company is well-positioned to leverage opportunities in the industrial real estate sector for continued growth.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

First Industrial Realty Trust, Inc. engages in the ownership, management, acquisition, sale, development, and redevelopment of industrial real estate. The firm product portfolio includes bulk warehouse, regional warehouse, R&D/flex, and light industrial properties. The company was founded by Johannson L. Yap, Robert L. Denton, Sr., and Jay H. Shidler on August 10, 1993, and is headquartered in Chicago, IL.

CHICAGO , June 25, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, will host its second quarter 2024 results conference call on Thursday, July 18, 2024 at 10:00 a.m. CDT (11:00 a.m.

First Industrial Realty Trust To Host Second Quarter 2024 Results Conference Call On July 18

Industrial REITs face challenges due to high supply and low demand, leading to increased vacancy rates and disparity between buyers' and sellers' expectations. However, the market conditions will shift due to significantly decreased new construction starts. FR is well-positioned to benefit from the improvement in market conditions, with no debt maturities until 2026, vast land bank, and solid business metrics.

First Industrial Looks Buyable As Market Conditions Improve

Blackstone Group

Prologis

SBA Communications

Vanguard Real Estate ETF

The window of opportunity to buy REITs could be closing. They enjoy a very strong catalyst going into 2025. Warning: this could be your final chance to buy REITs at such low valuations.

An Important Warning To REIT Investors

CHICAGO , May 30, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, will present at Nareit's REITWeek 2024 Investor Conference on Tuesday, June 4, 2024 at 3:00 PM EDT (2:00 PM CDT). A webcast of the presentation will be available on First Industrial's website at www.firstindustrial.com under the "Investors" tab.

First Industrial Realty Trust To Present At Nareit's REITWeek 2024 Investor Conference

American Tower

JPMorgan BetaBuilders MSCI US REIT ETF

Brixmor Property Group

Direxion Daily Real Estate Bull 3x Shares

Direxion Daily Real Estate Bear 3x Shares

Equinix

Fidelity MSCI Real Estate ETF

First Trust S&P REIT Index Fund

iShares Cohen & Steers REIT ETF

iShares U.S. Real Estate ETF

Nuveen Real Estate Income Fund

Invesco KBW Premium Yield Equity REIT ETF

Macerich

Medical Properties Trust

National Retail Properties

Neuberger Berman Real Estate Securities Income Fund Inc

Realty Income Corp

Pebblebrook Hotel Trust

PennyMac Mortgage Investment

US Diversified Real Estate ETF

Invesco Active US Real Estate

ALPS Active REIT ETF

ProShares Short Real Estate

Cohen And Steers Total Return Realty Fund

U.S. equity markets snapped a four-week winning streak while benchmark interest rates rebounded as hopes for imminent major central bank monetary easing were curtailed by stubbornly hot U.K. inflation data. Still hovering around all-time highs, the S&P 500 finished fractionally lower, but tech stocks were led higher by chip giant Nvidia on the heels of an impressive "AI-enhanced" earnings report. Halting a four-week rebound and continuing to be swung around by rate movements, real estate equities fell sharply this week as benchmark rates rebounded from one-month lows.

Rally Gets Reality Check

American Homes 4 Rent

CubeSmart

EastGroup Properties

Essential Properties Realty Trust Inc

Extra Space Storage

Innovative Industrial Properties

Invitation Homes

Independence Realty Trust

National Storage Affiliates Trust

Public Storage

Rexford Industrial Realty

Rayonier

Terreno Realty

Vici Properties

There are two types of REITs: COWs (Cash Only Wanted) that focus on high dividend yield, and FROGs (Fast Rate of Growth) that prioritize maximizing total return. Higher yield usually means lower gain, and vice versa, so investors generally have to choose between the two. This article lists 13 REITS that have grown Funds From Operations at double-digit rates, maintain ample liquidity, and have outperformed the average REIT over the past 3 years.

13 Fast-Growing REITs With Strong Balance Sheets

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does First Industrial Realty Trust (FR) have what it takes?

First Industrial Realty Trust (FR) Could Be a Great Choice

First Industrial Realty Trust, Inc. (NYSE:FR ) Q1 2024 Earnings Conference Call April 18, 2024 11:00 AM ET Company Participants Art Harmon - SVP of IR and Marketing Peter Baccile - President and CEO Scott Musil - CFO Jojo Yap - CIO Peter Schultz - EVP Chris Schneider - EVP, Operations Conference Call Participants Ki Bin Kim - Truist Rob Stevenson - Janney Vikram Malhotra - Mizuho Todd Thomas - KeyBanc Capital Markets Rich Anderson - Wedbush Craig Mailman - Citi Nicholas Yulico - Scotiabank Nick Thillman - Baird Jessica Zheng - Green Street Blaine Heck - Wells Fargo Caitlin Burrows - Goldman Sachs Bill Crow - Raymond James Nikita Bely - JPMorgan Jon Petersen - Jefferies Operator Good day, and welcome to the First Industrial Realty Trust, Inc. First Quarter Results Call. [Operator Instructions] Please note this event is being recorded.

First Industrial Realty Trust, Inc. (FR) Q1 2024 Earnings Call Transcript

First Industrial Realty has underperformed in the past year due to higher interest rates and a slowdown in industrial leasing activity. The company reported mixed results and reduced guidance, which may put pressure on its shares. The weakness in leasing activity, particularly in Southern California, and uncertainties in US-China relations are impacting First Industrial Realty's performance.

First Industrial: Shares Attractive Despite Softer Q1 Results

First Industrial Realty Trust (FR) came out with quarterly funds from operations (FFO) of $0.60 per share, missing the Zacks Consensus Estimate of $0.62 per share. This compares to FFO of $0.59 per share a year ago.

First Industrial Realty Trust (FR) Q1 FFO Miss Estimates

Signed 1.6 Million Square Feet of New Leases for Speculative Developments on Balance Sheet and 376,000 Square Feet in the Joint Venture in the First Quarter 45% Cash Rental Rate Increase on Leases Signed To-Date Commencing in 2024 Cash Same Store NOI Growth of 10.0% Sold Nine Buildings for $49 Million Increased First Quarter 2024 Dividend to $0.37 Per Share; 15.6% Growth Compared to Prior Quarterly Rate CHICAGO , April 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 first quarter of 2024. First Industrial's diluted net income available to common stockholders per share (EPS) was $0.52 in the first quarter, compared to $0.42 a year ago and first quarter funds from operations (FFO) was $0.60 per share/unit on a diluted basis, compared to $0.59 per share/unit a year ago.

First Industrial Realty Trust Reports First Quarter 2024 Results

Americold Realty

Lexington Realty

Plymouth Industrial REIT

Industrial real estate has experienced strong demand growth, leading to an increase in development of new warehouses. The supply and demand for industrial real estate vary by location, resulting in pockets of both strength and weakness. The future winners in the industrial real estate sector can be estimated by studying valuation and operating fundamentals.

Industrial Real Estate: Opportunities Amidst Supply And Demand Boom

Air Products and Chemicals

Bank First Corp

Camden Property

CareTrust REIT

Danaher

Dick's Sporting Goods

Amdocs

Equity LifeStyle Properties

Essex Property Trust

FirstService

Monolithic Power Systems

Nutrien

Schwab US Dividend Equity ETF

Steel Dynamics

Stantec

Sun Communities

W. P. Carey

Willis Towers Watson PLC

DENTSPLY SIRONA

20 new dividend increases with an average increase of 8.5% and a median of 8% are shared.

20 Upcoming Dividend Increases To Finish Q1

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.

First Industrial Realty Trust To Host First Quarter 2024 Results Conference Call On April 18

E-commerce growth has led to increased demand for logistics space and a surge in industrial rents. New development deliveries are expected to drop materially in 2025. Industrial REITs have the potential for outsized growth through lease mark-to-market and supply/demand balance.

A Differentiated View Within Industrial REITs

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.

First Industrial Realty Trust To Present At Citi's 2024 Global Property CEO Conference

CHICAGO , Feb. 15, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced that the Company's Annual Meeting of Stockholders will be held on April 30, 2024 virtually. First Industrial's Board of Directors set March 7, 2024 as the record date for the Annual Meeting.

First Industrial Realty Trust Announces Annual Meeting of Stockholders and Record Date

First Industrial Realty Trust, Inc. (FR) Q4 2023 Earnings Call Transcript

Cash Rental Rates Up 58.3% in 2023, Highest Annual Increase in Company History 39% Cash Rental Rate Increase on Leases Signed To-Date Commencing in 2024 Cash Same Store NOI Growth of 8.4% for Full Year 2023 Leased 100% of the 644,000 Square-Foot and 50% of the 349,000 Square-Foot Old Post Road Buildings in Baltimore Signed 705,000 Square Feet of New Leases for Speculative Developments in the Fourth Quarter 2023 and First Quarter 2024 To-Date Inclusive of Joint Venture Sold Seven Buildings for $64 Million in the Fourth Quarter; $125 Million Sold in 2023 2024 NAREIT FFO Guidance Initiated at a Range of $2.54 to $2.64 Per Share/Unit; $2.56 to $2.66 Per Share/Unit Excluding Accelerated Expense Increased First Quarter 2024 Dividend to $0.37 Per Share, a 15.6% Increase CHICAGO , Feb. 7, 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 fourth quarter and full year 2023. First Industrial's diluted net income available to common stockholders per share (EPS) was $0.67 in the fourth quarter, compared to $0.62 a year ago.

First Industrial Realty Trust Reports Fourth Quarter and Full Year 2023 Results

CHICAGO , Jan. 19, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today reported the tax treatment of its 2023 distributions.  This release is based on the preliminary results of work on the Company's tax filings and may be subject to correction or adjustment when the filings are completed.

First Industrial Realty Trust Reports Tax Treatment of Common Stock Distributions

CHICAGO , Jan. 17, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, will host its fourth quarter and full year 2023 results conference call on Thursday, February 8, 2024 at 9:00 a.m. CST (10:00 a.m.

First Industrial Realty Trust To Host Fourth Quarter And Full Year 2023 Results Conference Call On February 8

First Industrial Realty Trust's revenue and funds from operations have shown positive growth, with strong lease renewal activity driving net operating income growth. With imports and e-commerce activity picking up, demand should strengthen in 2024. Despite some challenges, such as inflation in operating expenses and slower leasing of new space, the company is well-positioned for continued growth and has the potential for increased FFO margins.

First Industrial Is Positioned For A Strong 2024

Americans just set a record on Thanksgiving shopping, spending $5.6 billion. I expect Industrial REITs to reap strong rewards from the growth in eCommerce shopping that we're seeing during the holidays. And right now, two of our top three highest-rated industrial REITs are offering attractive, double-digit margins of safety.

Santa Depends On These 'Must Have' Mission Critical Properties

Welltower

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.

These 3 Real Estate Stocks Delivering High-Dividend Yields Are Recommended By Wall Street's Most Accurate Analysts - First Industrial Realty (NYSE:FR), EastGroup Props (NYSE:EGP)

First Industrial shares have fallen due to rising interest rates, supply pressure, and a slowdown in tenant leasing. Operating results remain strong with mark-to-market rent increases driving NOI higher. The company is poised for continued growth from same-store NOI growth and development projects, with potential for a 60-75% upside in shares.

First Industrial: Embedded Growth At A Discount

News for First Industrial Realty Trust Stock (FR)