First Indl Rlty Tr Inc Stock Price, News & Analysis

First Industrial Realty Trust (NYSE: FR) has priced a public offering of $450 million in senior unsecured notes with a 5.25% interest rate, due in January 2031. The notes were priced at 99.265% of principal value, with settlement expected on May 14, 2025. The offering will be guaranteed by the company and proceeds will fund property acquisitions, development, debt refinancing, and general corporate purposes.

First Industrial Realty Trust is a leading U.S.-focused owner, operator, developer, and acquirer of logistics properties, with approximately 70.2 million square feet of industrial space owned and under development across 15 target MSAs as of March 31, 2025, primarily in supply-constrained, coastal markets.

First Industrial Realty Trust (NYSE: FR) has announced a quarterly common stock dividend of $0.445 per share for Q2 2025, payable on July 21, 2025, to stockholders of record on June 30, 2025.

As a leading U.S.-focused owner, operator, developer, and acquirer of logistics properties, First Industrial maintains a significant presence in the industrial real estate sector. The company's portfolio spans approximately 70.2 million square feet of industrial space as of March 31, 2025, concentrated across 15 target MSAs with emphasis on supply-constrained, coastal markets.

Through their integrated operating and investing platform, First Industrial provides high-quality facilities and industry-leading customer service to both multinational corporations and regional firms crucial for supply chain operations.

First Industrial Realty Trust (NYSE: FR) reported strong Q1 2025 results with notable growth metrics. Cash Same Store NOI increased by 10.1%, while cash rental rates surged 41.7% in Q1. The company achieved a 30% cash rental rate increase on 2025 lease commitments.

Key highlights include the acquisition of two 100% leased buildings in Phoenix for $120 million with a 6.4% cash yield, and plans for two new developments totaling 402,000 square feet in Dallas and Philadelphia with an estimated investment of $54 million. The company renewed and upsized its credit facility to $850 million and renewed a $200 million term loan.

Q1 2025 financial results showed diluted EPS of $0.36 compared to $0.52 year-ago, while FFO reached $0.68 per share/unit versus $0.60 last year. The company increased its quarterly dividend by 20.3% to $0.445 per share.

First Industrial Realty Trust (NYSE: FR) has announced a significant initiative with other major industrial REITs to standardize non-GAAP property metrics calculations across the sector. The coalition, including EastGroup Properties, Prologis, and STAG Industrial, has updated their methodology for key metrics such as property stabilization, occupancy, rent change, and customer retention.

The initiative builds upon their 2018 harmonization efforts and maintains that annual same-store portfolio calculations will only include properties stabilized in both current and prior periods. The standardization will be implemented in First Industrial's 2025 guidance and is not expected to materially impact non-GAAP metrics for periods before 2025.

First Industrial currently owns and has under development approximately 69.5 million square feet of industrial space across 15 target MSAs, focusing on supply-constrained, coastally oriented markets as of December 31, 2024.

First Industrial Realty Trust (NYSE: FR), a leading U.S. logistics real estate owner and operator, has scheduled its first quarter 2025 earnings conference call for April 17, 2025, at 10:00 a.m. CDT. The company will release Q1 2025 results on April 16, 2025, after market close.

The conference call will be accessible via phone at (877) 870-4263 and webcast on the company's website. A replay will be available through May 1, 2025.

First Industrial currently owns and has under development approximately 69.5 million square feet of industrial space as of December 31, 2024. The company's portfolio and investments focus on 15 target MSAs, particularly in supply-constrained, coastal markets.

First Industrial Realty Trust (NYSE: FR) has secured significant financing through two major transactions. The company closed an $850 million senior unsecured revolving credit facility, which represents a $100 million increase in capacity from its previous facility. This new facility matures on March 16, 2029, with two six-month extension options, and carries an initial interest rate of SOFR plus 77.5 basis points.

Additionally, FR refinanced a $200 million unsecured term loan maturing on March 17, 2028, with two one-year extension options. The term loan's initial interest rate is SOFR plus 85 basis points plus a 10-basis-point SOFR adjustment. Both facilities benefit from favorable BBB+/Baa1/BBB+ credit ratings level pricing, despite the company's current BBB/Baa2/BBB ratings, contingent on maintaining a consolidated leverage ratio below 35.0%.

First Industrial Realty Trust (NYSE: FR), a leading U.S. logistics real estate owner and operator, has announced its participation in Citi's 2025 Global Property CEO Conference. The presentation is scheduled for March 4, 2025, at 11:40 a.m. EST.

A live webcast will be available on the company's website under the Investors tab, with a replay accessible through May 31, 2025. Presentation materials will be posted on March 3, 2025.

First Industrial owns and has under development approximately 69.5 million square feet of industrial space as of December 31, 2024. The company's portfolio and investments focus on 15 target MSAs, emphasizing supply-constrained, coastally oriented markets.

First Industrial Realty Trust (NYSE: FR) has announced its Annual Meeting of Stockholders will be held virtually on April 30, 2025, with a record date set for March 7, 2025. The company, a leading U.S.-focused owner, operator, developer, and acquirer of logistics properties, manages approximately 69.5 million square feet of industrial space as of December 31, 2024.

First Industrial operates through an integrated platform providing high-quality facilities and customer service to multinational corporations and regional firms. Their portfolio and new investments are strategically concentrated in 15 target MSAs, with a focus on supply-constrained, coastally oriented markets.

First Industrial Realty Trust (NYSE: FR) reported strong fourth quarter and full year 2024 results, with notable achievements in development leasing and rental rate growth. The company's FFO reached $0.71 per share in Q4 2024, up from $0.63 year-over-year, while full-year FFO grew 8.6% to $2.65 per share.

Key highlights include a 50.8% increase in cash rental rates for 2024, 4.7 million square feet of development leases signed, and in-service occupancy of 96.2% at year-end. The company initiated 2025 NAREIT FFO guidance at $2.87-$2.97 per share, projecting approximately 10% growth at the midpoint.

The board approved a 20.3% increase in quarterly dividend to $0.445 per share. During Q4, FR commenced two development projects totaling 679,000 square feet with an estimated investment of $96 million and sold five buildings for $25 million. For full-year 2024, the company sold 22 buildings for $163 million and achieved 8.1% same-store NOI growth.