Welcome to our dedicated page for First Industrial Realty Trust news (Ticker: FR), a resource for investors and traders seeking the latest updates and insights on First Industrial Realty Trust stock.
First Industrial Realty Trust, Inc. (NYSE: FR) is a leading owner, operator, and developer of industrial real estate across North America. As a real estate investment trust (REIT), First Industrial specializes in providing essential supply chain solutions through an extensive portfolio of more than 650 properties. These properties are strategically located in top industrial markets to support various business needs from bulk and regional distribution centers to light industrial facilities.
First Industrial's mission is to help businesses thrive by staying ahead of evolving industrial real estate requirements. The company offers a comprehensive range of services, including leasing, managing, buying, selling, and developing industrial assets. Their experienced team boasts unmatched market knowledge and a commitment to industry-leading customer service and responsiveness.
The company’s broad customer base spans multiple sectors, including manufacturing, retail, wholesale trade, distribution, and professional services. This diversity enables First Industrial to derive the majority of its revenue from rental income tied to medium-term leases.
As of the latest updates, First Industrial reported solid financial performance, demonstrating strong net income and funds from operations (FFO) growth. Recent achievements include a notable increase in cash rental rate growth and substantial lease signings, reflecting the company's robust market position despite economic uncertainties.
First Industrial has also shown strategic foresight through its development projects and acquisitions, focusing on supply-constrained, coastally oriented markets. Their portfolio, under continuous expansion, captures significant opportunities within completed and under-construction developments, ensuring sustainable long-term growth.
With a strong balance sheet and no debt maturities until 2026, First Industrial is well-positioned to support current and future growth initiatives. The company’s recent dividend increase underscores its commitment to delivering value to shareholders.
For more detailed information, including the latest news and financial reports, visit First Industrial Realty Trust's official website at www.firstindustrial.com.
First Industrial Realty Trust (NYSE: FR) reported strong Q1 2023 results, with diluted EPS rising to $0.42 from $0.27 year-over-year. The company achieved a remarkable 58.3% increase in cash rental rates and maintained a high occupancy rate of 98.7%. Same store cash basis net operating income (NOI) grew by 8.1%. Notably, the year saw a 394,000 square feet leasing activity and the commencement of a 358,000 square-foot development in Philadelphia, costing $61 million. Additionally, they sold 31 acres in Phoenix for $50 million, resulting in a $24 million pre-tax gain. The FFO guidance for 2023 has been raised to between $2.33 and $2.43 per share, excluding the impact of accelerated tenant reimbursements.
First Industrial Realty Trust (NYSE: FR) will hold its Q1 2023 results conference call on April 20, 2023, at 10:00 a.m. CDT. Investors can access the call by dialing (888) 317-6003 with the passcode 'First Industrial' or through a live webcast on the company’s website. The Q1 results will be released on April 19, 2023, after market close. A replay will be available until May 4, 2023 by dialing (877) 344-7529 and entering passcode 5382779. First Industrial is a major owner and developer of industrial real estate in the U.S., with approximately 68.9 million square feet of space as of December 31, 2022.
First Industrial Realty Trust (NYSE: FR) announced its upcoming presentation at Citi's 2023 Global Property CEO Conference scheduled for March 7, 2023, at 4:20 p.m. EST. Investors can access a live webcast of the presentation on their website, with a replay available until May 31, 2023. The company is a leading owner and developer of industrial real estate, managing approximately 68.9 million square feet of industrial space as of December 31, 2022. This event marks an important opportunity for First Industrial to showcase its strategies and future plans to key stakeholders in the real estate sector.
First Industrial Realty Trust (NYSE: FR) announced its upcoming Annual Meeting of Stockholders will be held virtually on May 3, 2023. The Board of Directors has set March 9, 2023 as the record date for stockholders eligible to vote. As of December 31, 2022, the company manages approximately 68.9 million square feet of industrial space across the U.S. First Industrial Realty Trust is a fully integrated owner, operator, and developer of industrial properties, catering to multinational corporations and regional customers. For more details, visit www.firstindustrial.com.
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