First Industrial Realty Trust Declares Common Stock Dividends

Rhea-AI Summary

First Industrial Realty Trust (NYSE: FR), a leading U.S. owner and developer of industrial real estate, has declared a quarterly dividend of $0.37 per share for the quarter ending September 30, 2024. The dividend is payable on October 21, 2024 to stockholders of record as of September 30, 2024.

First Industrial Realty Trust owns and has under development approximately 68.7 million square feet of industrial space as of June 30, 2024. The company's portfolio and new investments are focused on 15 target MSAs, with an emphasis on supply-constrained, coastally oriented markets. First Industrial provides high-quality facilities and customer service to multinational corporations and regional firms essential for their supply chains.

Positive

• Consistent dividend payment indicates financial stability
• Large portfolio of 68.7 million square feet of industrial space
• Strategic focus on supply-constrained, coastally oriented markets

Negative

• None.

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, 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, we own and have under development approximately 68.7 million square feet of industrial space as of June 30, 2024. For more information, please visit us at www.firstindustrial.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. We intend for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on certain assumptions and describe our future plans, strategies and expectations, and are generally identifiable by use of the words "believe," "expect," "plan," "intend," "anticipate," "estimate," "project," "seek," "target," "potential," "focus," "may," "will," "should" or similar words. Although we believe the expectations reflected in forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results will not materially differ. Factors that could have a materially adverse effect on our operations and future prospects include, but are not limited to: changes in national, international, regional and local economic conditions generally and real estate markets specifically; changes in legislation/regulation (including changes to laws governing the taxation of real estate investment trusts) and actions of regulatory authorities; our ability to qualify and maintain our status as a real estate investment trust; the availability and attractiveness of financing (including both public and private capital) and changes in interest rates; the availability and attractiveness of terms of additional debt repurchases; our ability to retain our credit agency ratings; our ability to comply with applicable financial covenants; our competitive environment; changes in supply, demand and valuation of industrial properties and land in our current and potential market areas; our ability to identify, acquire, develop and/or manage properties on favorable terms; our ability to dispose of properties on favorable terms; our ability to manage the integration of properties we acquire; potential liability relating to environmental matters; defaults on or non-renewal of leases by our tenants; decreased rental rates or increased vacancy rates; higher-than-expected real estate construction costs and delays in development or lease-up schedules; the uncertainty and economic impact of pandemics, epidemics or other public health emergencies or fear of such events; risks associated with security breaches through cyberattacks, cyber intrusions or otherwise, as well as other significant disruptions of our information technology networks and related systems; potential natural disasters and other potentially catastrophic events such as acts of war and/or terrorism; technological developments, particularly those affecting supply chains and logistics; litigation, including costs associated with prosecuting or defending claims and any adverse outcomes; risks associated with our investments in joint ventures, including our lack of sole decision-making authority; and other risks and uncertainties described under the heading "Risk Factors" and elsewhere in our annual report on Form 10-K for the year ended December 31, 2023, as well as those risks and uncertainties discussed from time to time in our other Exchange Act reports and in our other public filings with the Securities and Exchange Commission (the "SEC"). We caution you not to place undue reliance on forward-looking statements, which reflect our outlook only and speak only as of the date of this press release or the dates indicated in the statements. We assume no obligation to update or supplement forward-looking statements. For further information on these and other factors that could impact us and the statements contained herein, reference should be made to our filings with the SEC.

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SOURCE First Industrial Realty Trust, Inc.

FAQ

What is the dividend amount declared by First Industrial Realty Trust (FR) for Q3 2024?

First Industrial Realty Trust (FR) has declared a quarterly dividend of $0.37 per share for the quarter ending September 30, 2024.

When is the dividend payable for First Industrial Realty Trust (FR) stockholders?

The dividend is payable on October 21, 2024 to stockholders of record as of September 30, 2024.

How much industrial space does First Industrial Realty Trust (FR) own or have under development as of June 30, 2024?

As of June 30, 2024, First Industrial Realty Trust (FR) owns and has under development approximately 68.7 million square feet of industrial space.

In how many target MSAs does First Industrial Realty Trust (FR) concentrate its portfolio and new investments?

First Industrial Realty Trust (FR) concentrates its portfolio and new investments in 15 target MSAs, focusing on supply-constrained, coastally oriented markets.