First Industrial Realty Trust (FR) came out with quarterly funds from operations (FFO) of $0.66 per share, beating the Zacks Consensus Estimate of $0.64 per share. This compares to FFO of $0.61 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 3.13%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.62 per share when it actually produced FFO of $0.60, delivering a surprise of -3.23%.Over the l ...

FIRST INDUSTRIAL REALTY TRUST REPORTS SECOND QUARTER 2024 RESULTS • Signed 1.1 Million Square Feet of New Leases for Speculative Developments in the Second Quarter and Third Quarter To-Date • Signed a 212,000 Square-Foot Partial Build-to-Suit Lease in the Second Quarter • Started Two Developments in South Florida and the Partial Build-To-Suit in Houston Totaling 683,000 Square Feet, Estimated Investment of $109 Million • Renewed Largest 2025 Lease Rollover of 1.3 Million Square Feet • Renewed One of the Two ...

Signed 1.1 Million Square Feet of New Leases for Speculative Developments in the Second Quarter and Third Quarter To-DateSigned a 212,000 Square-Foot Partial Build-to-Suit Lease in the Second QuarterStarted Two Developments in South Florida and the Partial Build-To-Suit in Houston Totaling 683,000 Square Feet, Estimated Investment of $109 MillionRenewed Largest 2025 Lease Rollover of 1.3 Million Square FeetRenewed One of the Two Largest Remaining 2024 Expirations in Southern California for 221,000 Square Fe ...

Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a ...

Kwarkot Introduction First Industrial (NYSE:FR) is a quality REIT that has seen its fair share of volatility in comparison to their industrial peers over the past several months. The company has a long operating history having been founded in 1994. With interest rates likely to decline soon, long-term investors should consider this REIT as they have been performing exceptionally over the past few years. In this article I discuss the company's latest earnings, fundamentals, performance against peers, and ...

CHICAGO, June 25, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, will host its second quarter 2024 results conference call on Thursday, July 18, 2024 at 10:00 a.m. CDT (11:00 a.m. EDT). The conference call may be accessed by dialing (877) 870-4263, passcode "First Industrial". The conference call will also be webcast live on the Investors page of the Company's website at www.firstindustrial.com. First In ...

Lari Bat/iStock via Getty Images Investment thesis I believe that the recent drop in First Industrial Realty Trust (NYSE:FR) left the valuation detached from its business fundamentals and long-term ability to generate cash flows. The Company has clear growth drivers resulting from: ability to significantly bump its rents upon termination strategically located, large land bank expected improvements in the supply-to-demand relationship Moreover, it has no debt maturities until 2026, delivered an impressive di ...

Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments. Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that me ...

财务表现 - 2024年第一季度FIRST INDUSTRIAL REALTY TRUST, INC.的租赁收入为15.97亿美元，较2023年同期增长约9.1%[16] - 2024年第一季度FIRST INDUSTRIAL REALTY TRUST, INC.的总收入为16.23亿美元，较2023年同期增长约8.5%[16] - 2024年第一季度FIRST INDUSTRIAL REALTY TRUST, INC.的净收入为7.05亿美元，较2023年同期增长约16.1%[16] - 2024年第一季度FIRST INDUSTRIAL REALTY TRUST, INC.的基本和稀释每股收益分别为0.52美元和0.52美元[16] - 2024年第一季度FIRST INDUSTRIAL REALTY TRUST, INC.的综合收入为8.09亿美元，较2023年同期增长约69.2%[17] - 2024年第一季度FIRST INDUSTRIAL REALTY TRUST, INC.的股东权益为26.73亿美元，较2023年同期增长约5.7%[18] - 2024年第一季度FIRST INDUSTRIAL REALTY TRUST, INC.的现金、现金等价物和受限现金为4.88亿美元，较2023年同期减少约31.5%[19] - 2024年第一季度总收入为162,272千美元，较2023年同期增长8.3%[22] - 净利润为70,498千美元，较2023年同期增长16.0%[22] - 综合收入为80,921千美元，较2023年同期增长69.2%[23] 资产情况 - 2024年第一季度FIRST INDUSTRIAL REALTY TRUST, INC.的投资房地产净额为46.93亿美元，较2023年同期减少约0.2%[21] - 公司拥有421个工业物业，总面积约为66.7百万平方英尺[29] 财务活动 - 现金流量表显示，经营活动产生的净现金为62,509千美元[25] - 投资活动中，实际投资额为19,031千美元，较去年同期减少104,128千美元[25] - 融资活动中，净现金流出为38,438千美元，较去年同期减少39,609千美元[25] 公司合规 - 根据最新会计准则，需要披露主要业务部门的重要费用[32] - 公司在2023年12月发布了ASU 2023-09，要求加强所得税披露，主要通过标准化和分解利率协调类别以及按司法管辖区支付的所得税来实现[33] 公司交易和合作 - 公司在2024年3月结束的三个月内出售了九个工业物业，总面积约为40万平方英尺，销售总收入为48507美元，这些销售所产生的房地产出售收益为30852美元[34] - 公司通过第三方合作伙伴持有的合资企业在2024年3月31日拥有三个正在开发的建筑物，总面积为180万平方英尺，总估计投资额约为214766美元[43] 股权和股票 - 公司的未担保信贷额度、未担保贷款和私人放款票据的公允价值在2024年3月31日和2023年12月31日分别为2135184美元和2232503美元[40] - 截至2024年3月31日，公司未发行任何股票[47] 其他信息 - 未来12个月，公司预计将有大约410美元的净收入用于增加衍生工具的利息费用[49] - 公司有三个利率互换，总名义价值为200,000美元，固定SOFR利率组件为0.87%[56]

财务数据和关键指标变化 - 第一季度NAREIT基金来源为每股0.60美元,相比2023年第一季度的0.59美元有所增长 [19] - 不包括2023年第一季度0.02美元的一次性收益,2023年第一季度的FFO每股为0.57美元 [19] - 第一季度现金同店NOI增长10%,主要由于新租赁和续租租金上涨、租金上涨以及较低的免租期 [20] 各条业务线数据和关键指标变化 - 第一季度末在役物业出租率为95.5%,与2023年末持平,新签500,000平方英尺的纳什维尔租赁抵消了一些预期的退租 [21][22] - 2023年第三和第四季度投入使用但未完全租出的开发项目带来约240个基点的出租率机会,目前这一机会已降至160个基点 [22][23] 各个市场数据和关键指标变化 - 整体市场空置率上升至5.3%,预计未来几个季度将上升至6%中期水平,但新开工项目大幅下降超过60% [8][9][10] - 南佛罗里达和纳什维尔市场表现较好,租金增长强劲,而南加州和西雅图市场相对较弱 [124][149][151] 公司战略和发展方向及行业竞争 - 公司签署了两项大型开发租赁,并继续推进2024年续租,实现了45%的现金租金上涨 [8][11][12] - 公司计划2024年完成100-150百万美元的资产出售,已在第一季度完成了49百万美元的出售 [13][14] - 公司保持稳健的资本状况,无2026年前的债务到期,开发项目资金有保障 [24] 管理层对经营环境和未来前景的评论 - 经济不确定性、资本市场波动和地缘政治环境的快速变化给一些租户的决策带来了暂时的犹豫 [15][16][78][79] - 公司对开发项目的租赁时间进度保持谨慎,调整了部分同店租赁假设 [15][16][182][183] - 公司对整体需求保持乐观,认为亚马逊等电商企业的扩张可能带动其他企业跟进 [158][159][160][161][162][163][164][165][166][167][168][169][170] 问答环节重要的提问和回答 问题1 **Ki Bin Kim 提问** 询问开发项目收益率和利润率调整的原因 [33][34][35][36][37][38][39][40][41] **Jojo Yap 回答** 公司适当调整了开发项目的退出收益率和租金预测,导致利润率略有下降,但整体情况良好 [35][36][37][38][39] 问题2 **Vikram Malhotra 提问** 询问公司对租户决策犹豫的看法,是否存在更持久的需求下降风险 [78][79][80][81][82][83][84][85] **Peter Baccile、Peter Schultz、Jojo Yap 回答** 公司认为目前租户决策放缓主要是由于宏观环境不确定性,但整体需求依然广泛,续租活动保持良好 [78][79][80][81][82][83][84][85][124][149][151][169][170] 问题3 **Rich Anderson 提问** 询问公司租金上涨的持续性,以及未来是否会出现更平缓的租金增长 [85][86][87][88] **Peter Baccile 回答** 公司认为在租金温和上涨的情况下,现有租金上涨的持续时间较长,但如果租金大幅下跌,持续时间会缩短 [85][86]