First Industrial Realty Trust, Inc. - FR STOCK NEWS

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.

First Industrial Realty Trust (NYSE: FR), a premier industrial real estate operator, will present at Nareit's REITweek: 2021 Investor Conference on June 9 at 11:45 AM EDT. Investors can register for the event via the registration link. Presentation materials will become available on June 8. As of March 31, 2021, the company manages approximately 64.4 million square feet of industrial space.

First Industrial Realty Trust, Inc. (NYSE: FR) has declared a common stock dividend of $0.27 per share for the quarter ending June 30, 2021. This dividend will be payable on July 19, 2021, to stockholders of record on June 30, 2021. The company is recognized for its comprehensive role as an owner, operator, and developer of industrial real estate, managing approximately 64.4 million square feet of space across the U.S. as of March 31, 2021. Investors can find more information on the company's performance and strategies at www.firstindustrial.com.

First Industrial Realty Trust (NYSE: FR) reported Q1 2021 results with EPS of $0.48, up from $0.32 year-over-year. The FFO was $0.46 per share/unit, slightly higher than $0.45 last year. Portfolio occupancy remained stable at 95.7%, rental rates surged by 10.4% on a cash basis. Five new development projects were launched, with plans for further expansion, including projects totaling 963,000 square feet in Q2. The company paid an increased dividend of $0.27 per share, reflecting an 8% rise. 2021 guidance estimates net income between $1.17 and $1.27 per share.

First Industrial Realty Trust (NYSE: FR) announced the retirement of David G. Harker, Executive Vice President – Central Region, effective June 30, 2021. Harker has been with the company since 1998, contributing significantly to its operations and portfolio transformation. As part of the succession plan, Johannson L. Yap and Peter O. Schultz will take over Harker's responsibilities. CEO Peter E. Baccile acknowledged Harker's impact on the company and its shareholders. The company continues to operate approximately 64.1 million square feet of industrial space as of December 31, 2020.

First Industrial Realty Trust (NYSE: FR) will announce its first quarter 2021 results on April 21, 2021, after market close. A conference call to discuss the results is scheduled for April 22, 2021, at 10:00 a.m. CDT. Interested parties can join the call at (866) 542-2938 using conference ID 9193527 or listen via the Company’s website. A replay will be available until May 7, 2021. As of December 31, 2020, First Industrial owned and managed approximately 64.1 million square feet of industrial space in the U.S.

On March 5, 2021, First Industrial Realty Trust (NYSE: FR) announced its participation in Citi's 2021 Virtual Global Property CEO Conference. The presentation is scheduled for March 9, 2021, at 10:30 AM EST. A live webcast will be available on the company’s website, with a replay accessible until May 31, 2021. This leading industrial real estate owner and operator boasts approximately 64.1 million square feet under its management as of December 31, 2020, serving both multinational and regional customers.