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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 fourth quarter 2021 earnings with diluted net income per share at $0.87, up from $0.65 year-over-year. The full year 2021 EPS was $2.09, compared to $1.53 in 2020. Funds from Operations (FFO) also showed growth, reaching $0.52 per share in Q4 and $1.97 for the full year, a notable increase from the previous year. The company achieved a record 16.2% increase in cash rental rates for 2021 and maintained a high occupancy rate of 98.1%. Additionally, a quarterly common stock dividend of $0.295 per share was declared, reflecting a 9.3% increase.
First Industrial Realty Trust (NYSE: FR) is set to announce its fourth quarter and full year 2021 results on February 9, 2022, after market close. A conference call will be held on February 10, 2022, at 10:00 a.m. CST to discuss these results. Interested parties can join the call by dialing (866) 542-2938 or via the company's website. A replay of the call will be available until February 25, 2022. First Industrial Realty Trust owns approximately 67.7 million square feet of industrial space across the U.S., providing services to a wide range of clients.
First Industrial Realty Trust (NYSE: FR) announced the tax treatment of its 2021 distributions. The preliminary results indicate no expected material changes upon finalization of tax filings. Shareholders should consult tax advisors regarding specific treatments. The reported cash distribution per share was $1.0800, with the majority classified as ordinary dividends (98.3%). The company owns approximately 67.7 million square feet of industrial space as of September 2021, emphasizing its position as a leading industrial real estate owner and operator.
First Industrial Realty Trust (NYSE: FR) announced a quarterly dividend of $0.27 per share for the period ending December 31, 2021, to be paid on January 18, 2022. The dividend will benefit stockholders of record as of December 31, 2021. The company continues to operate as a significant player in the industrial real estate market, managing approximately 67.7 million square feet of properties as of September 30, 2021.
First Industrial Realty Trust (NYSE: FR) reported strong Q3 2021 results with diluted net income of $0.33 per share, up from $0.28 YoY. FFO increased to $0.51 per share/unit, from $0.49. In-service occupancy rose to 97.1%, with same property NOI growing by 6.9%. Cash rental rates surged 22.8%. The company commenced development on projects totaling 691,000 square feet and plans for 800,000 in Q4. Its full-year FFO guidance is raised to $1.93-$1.97 per share, reflecting strong performance and a positive outlook for growth.
First Industrial Realty Trust, a leading industrial real estate owner and operator, will host its third quarter 2021 results conference call on October 21, 2021, at 10:00 a.m. CDT. The results will be released on October 20 after market close. Investors can participate via phone at (866) 542-2938, conference ID 2499227, or through a live webcast at firstindustrial.com. A replay will be available until November 5, 2021. The company manages approximately 66.9 million square feet of industrial space across the U.S.
First Industrial Realty Trust (NYSE: FR) has declared a common stock dividend of $0.27 per share for the quarter ending September 30, 2021. This dividend is payable on October 18, 2021 to stockholders of record as of September 30, 2021. The company is a prominent player in the industrial real estate sector, managing and developing approximately 66.9 million square feet of industrial space across the U.S.
First Industrial Realty Trust (NYSE: FR) reported solid second-quarter 2021 results, with a diluted net income per share of $0.40, up from $0.28 a year prior. Funds from Operations (FFO) rose to $0.48 per share/unit from $0.46. Occupancy rates improved to 96.6%, while same property cash NOI grew by 2.1%. The company plans to develop four projects totaling 2.7 million square feet, with an investment of $266 million. Guidance for FFO is raised to a range of $1.89 to $1.97 per share for 2021. A conference call is scheduled for July 22, 2021.
First Industrial Realty Trust (NYSE: FR) announced the closure of a $750 million senior unsecured revolving credit facility, replacing the prior facility. The new facility matures on July 7, 2025, with the option to extend. Notably, it offers a lower interest rate of LIBOR + 77.5 basis points, a 32.5 basis point improvement from before. Additionally, the company refinanced a $200 million unsecured term loan due on July 7, 2026, achieving a 65 basis point credit spread improvement. This move supports First Industrial's long-term growth strategy.
First Industrial Realty Trust (NYSE: FR) announces its second quarter 2021 results conference call scheduled for July 22, 2021, at 10:00 a.m. CDT. The results will be released on July 21, 2021, post market close. Interested participants can join the call by dialing (866) 542-2938 with conference ID 8329515, or via live webcast on the company's website. A replay will be available until August 6, 2021. First Industrial Realty Trust specializes in industrial real estate with approximately 64.4 million square feet under ownership or development as of March 31, 2021.