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First Industrial Realty Trust, Inc. reports developments for a U.S.-only industrial REIT that owns, operates, develops and acquires logistics properties. Company updates commonly address operating results, common stock dividends, portfolio activity, development pipeline priorities and capital allocation across its logistics real estate platform.
News also covers governance matters, including annual meeting results, board composition, shareholder voting campaigns and responses to shareholder communications. The company's tenant base spans supply chain users such as e-commerce, logistics, transportation, manufacturing, retail, food and beverage, building materials, wholesale goods, health services and government customers.
First Industrial Realty Trust (NYSE: FR) reported strong Q2 2024 results, with diluted EPS of $0.39 and FFO of $0.66 per share/unit. Key highlights include:
- Signed 1.1 million sq ft of new leases for speculative developments
- Started three new developments totaling 683,000 sq ft with $109 million investment
- Achieved 45% cash rental rate increase on 2024 commencing leases
- Sold eight buildings for $90 million
- Increased 2024 NAREIT FFO guidance to $2.57-$2.65 per share/unit
The company maintained high occupancy at 95.3% and reported 5.6% increase in same-store NOI. First Industrial also renewed its largest 2025 lease rollover of 1.3 million sq ft and one of its largest 2024 expirations in Southern California.
First Industrial Realty Trust (NYSE: FR), a top U.S. logistics real estate owner and operator, announced a conference call to discuss Q2 2024 results on July 18, 2024, at 10:00 a.m. CDT. The call is accessible at (877) 870-4263, passcode 'First Industrial'. The results will be released on July 17, 2024, after market close. A replay will be available till August 1, 2024, at (877) 344-7529, passcode 6598143, and on the company's website.
First Industrial manages about 68.1 million sq ft of industrial space across 15 target MSAs, focusing on supply-constrained, coastal markets. The company's platform supports multinational and regional supply chains with high-quality facilities and leading customer service.
First Industrial Realty Trust (NYSE: FR), a prominent logistics real estate owner and operator, will present at Nareit's REITWeek 2024 Investor Conference on June 4, 2024, at 3:00 PM EDT. A webcast of the presentation will be accessible on their website, with a replay available until July 4, 2024. The conference materials will also be available online. As of March 31, 2024, First Industrial owns and is developing approximately 68.1 million square feet of industrial space across 15 target metropolitan statistical areas (MSAs) in the U.S.
First Industrial Realty Trust, Inc. (NYSE: FR) declared a common stock dividend of $0.37 per share/unit for the quarter ending June 30, 2024. The dividend is payable on July 15, 2024, to stockholders of record on June 28, 2024. First Industrial Realty Trust is a leading U.S.-only owner, operator, developer, and acquirer of logistics properties with a portfolio of approximately 68.1 million square feet of industrial space as of March 31, 2024.
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