First Industrial Realty Trust Key Executives
This section highlights First Industrial Realty Trust's key executives, including their titles and compensation details.
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First Industrial Realty Trust Earnings
This section highlights First Industrial Realty Trust's earnings, including key dates, EPS, earnings reports, and earnings call transcripts.
Next Earnings Date
Last Earnings Results
Earnings Call Transcripts
| Transcript | Quarter | Year | Date | Estimated EPS | Actual EPS |
|---|---|---|---|---|---|
| Read Transcript | Q1 | 2025 | 2025-04-17 | N/A | N/A |
| Read Transcript | Q4 | 2024 | 2025-02-06 | N/A | N/A |
| Read Transcript | Q3 | 2024 | 2024-10-17 | N/A | N/A |
| Read Transcript | Q2 | 2024 | 2024-07-18 | N/A | N/A |
| Read Transcript | Q1 | 2024 | 2024-04-18 | N/A | N/A |
| Read Transcript | Q4 | 2023 | 2024-02-08 | N/A | N/A |
| Read Transcript | Q3 | 2023 | 2023-10-19 | N/A | N/A |
| Read Transcript | Q2 | 2023 | 2023-07-20 | N/A | N/A |
| Read Transcript | Q1 | 2023 | 2023-04-20 | N/A | N/A |
Financial Statements
Access annual & quarterly financial statements for First Industrial Realty Trust, including income statements, balance sheets, and cash flow statements..
Annual Income Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 |
|---|---|---|---|---|---|
| Revenue | $669.64M | $614.03M | $539.93M | $476.29M | $448.03M |
| Cost of Revenue | $182.82M | $169.32M | $143.66M | $131.30M | $119.19M |
| Gross Profit | $486.82M | $444.70M | $396.27M | $344.99M | $328.83M |
| Gross Profit Ratio | 72.70% | 72.42% | 73.39% | 72.43% | 73.40% |
| Research and Development Expenses | $1.53M | $3.67M | $909.00K | $1 | $0 |
| General and Administrative Expenses | $40.94M | $37.12M | $33.97M | $34.61M | $32.85M |
| Selling and Marketing Expenses | $- | $- | $- | $- | $- |
| Selling General and Administrative Expenses | $40.94M | $37.12M | $33.97M | $34.61M | $32.85M |
| Other Expenses | $- | $407.58M | $147.42M | $130.95M | $129.64M |
| Operating Expenses | $40.94M | $448.37M | $182.30M | $165.56M | $162.49M |
| Cost and Expenses | $223.76M | $355.88M | $325.96M | $296.86M | $281.68M |
| Interest Income | $-3.65M | $-3.63M | $52.20M | $47.53M | $54.72M |
| Interest Expense | $82.97M | $74.33M | $49.01M | $44.10M | $51.29M |
| Depreciation and Amortization | $176.29M | $164.51M | $325.96M | $296.86M | $281.68M |
| EBITDA | $557.03M | $413.32M | $358.20M | $306.96M | $292.56M |
| EBITDA Ratio | 83.18% | 67.31% | 66.34% | 64.45% | 65.30% |
| Operating Income | $445.88M | $315.60M | $210.78M | $176.00M | $162.92M |
| Operating Income Ratio | 66.59% | 51.40% | 39.04% | 36.95% | 36.36% |
| Total Other Income Expenses Net | $-148.12M | $-53.28M | $76.07M | $102.78M | $-10.86M |
| Income Before Tax | $297.77M | $262.32M | $290.03M | $282.21M | $198.38M |
| Income Before Tax Ratio | 44.47% | 42.72% | 53.72% | 59.25% | 44.28% |
| Income Tax Expense | $6.08M | $8.69M | $23.36M | $4.88M | $2.41M |
| Net Income | $287.55M | $274.82M | $266.67M | $271.00M | $195.99M |
| Net Income Ratio | 42.94% | 44.76% | 49.39% | 56.90% | 43.74% |
| EPS | $2.17 | $2.08 | $2.02 | $2.09 | $1.53 |
| EPS Diluted | $2.17 | $2.07 | $2.02 | $2.09 | $1.53 |
| Weighted Average Shares Outstanding | 132.37M | 132.26M | 132.02M | 129.69M | 127.71M |
| Weighted Average Shares Outstanding Diluted | 132.42M | 132.34M | 132.10M | 129.78M | 127.90M |
| SEC Filing | Source | Source | Source | Source | Source |
| Breakdown | March 31, 2025 | December 31, 2024 | September 30, 2024 | June 30, 2024 | March 31, 2024 | December 31, 2023 | September 30, 2023 | June 30, 2023 | March 31, 2023 | December 31, 2022 | September 30, 2022 | June 30, 2022 | March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | June 30, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $177.07M | $175.59M | $167.65M | $164.14M | $162.27M | $157.28M | $155.10M | $152.22M | $149.42M | $144.61M | $139.75M | $130.05M | $125.51M | $121.55M | $121.08M | $117.40M | $116.26M | $112.29M | $116.19M | $109.20M |
| Cost of Revenue | $48.31M | $47.87M | $45.09M | $86.47M | $89.26M | $41.16M | $42.56M | $39.76M | $42.18M | $37.61M | $35.77M | $34.86M | $35.41M | $32.91M | $33.40M | $31.75M | $33.24M | $31.71M | $30.36M | $28.05M |
| Gross Profit | $128.76M | $127.72M | $122.55M | $77.67M | $73.01M | $116.12M | $112.55M | $112.47M | $107.24M | $107.00M | $103.98M | $95.19M | $90.10M | $88.64M | $87.69M | $85.65M | $83.02M | $80.58M | $85.84M | $81.15M |
| Gross Profit Ratio | 72.72% | 72.74% | 73.10% | 47.32% | 44.99% | 73.83% | 72.56% | 73.88% | 71.77% | 73.99% | 74.40% | 73.19% | 71.78% | 72.92% | 72.42% | 72.96% | 71.41% | 71.76% | 73.88% | 74.31% |
| Research and Development Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- | $591.00K | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| General and Administrative Expenses | $15.90M | $10.30M | $9.23M | $9.62M | $11.78M | $9.79M | $8.46M | $9.52M | $9.35M | $8.76M | $8.23M | $8.25M | $8.74M | $8.98M | $8.60M | $8.47M | $8.56M | $7.88M | $7.49M | $8.23M |
| Selling and Marketing Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Selling General and Administrative Expenses | $15.90M | $10.30M | $9.23M | $9.62M | $11.78M | $9.79M | $8.46M | $9.52M | $9.35M | $8.76M | $8.23M | $8.25M | $8.74M | $8.98M | $8.60M | $8.47M | $8.56M | $7.88M | $7.49M | $8.23M |
| Other Expenses | $- | $45.09M | $43.52M | $59.99M | $-11.78M | $-80.36M | $-8.46M | $40.59M | $39.77M | $38.71M | $38.33M | $36.47M | $33.91M | $33.39M | $33.14M | $32.45M | $31.98M | $32.11M | $34.37M | $32.23M |
| Operating Expenses | $15.90M | $55.39M | $52.74M | $52.67M | $11.78M | $54.90M | $49.60M | $50.11M | $49.13M | $48.05M | $46.56M | $44.72M | $42.65M | $42.37M | $41.74M | $40.91M | $40.54M | $39.98M | $41.85M | $40.47M |
| Cost and Expenses | $64.21M | $58.17M | $97.84M | $96.09M | $101.04M | $96.06M | $92.16M | $89.87M | $91.31M | $85.67M | $82.33M | $79.58M | $78.07M | $75.28M | $75.14M | $72.66M | $73.78M | $71.69M | $72.21M | $68.52M |
| Interest Income | $-963.00K | $-911.00K | $-911.00K | $- | $- | $21.32M | $20.81M | $18.80M | $17.02M | $16.81M | $13.89M | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Interest Expense | $19.47M | $20.11M | $20.84M | $- | $- | $20.41M | $19.91M | $17.90M | $16.12M | $15.91M | $13.09M | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Depreciation and Amortization | $53.89M | $44.81M | $40.35M | $43.05M | $41.82M | $41.44M | $41.15M | $40.59M | $39.77M | $38.71M | $38.33M | $36.47M | $33.91M | $33.39M | $33.14M | $32.45M | $31.98M | $34.41M | $36.33M | $34.20M |
| EBITDA | $128.67M | $135.40M | $127.55M | $111.09M | $103.05M | $105.35M | $102.98M | $114.45M | $96.20M | $96.75M | $95.43M | $86.94M | $80.60M | $79.66M | $79.09M | $77.18M | $74.45M | $75.00M | $80.15M | $74.84M |
| EBITDA Ratio | 72.66% | 77.11% | 76.09% | 67.68% | 63.51% | 66.98% | 66.40% | 75.18% | 64.38% | 66.91% | 68.29% | 66.85% | 64.22% | 65.53% | 65.32% | 65.74% | 64.04% | 66.79% | 68.98% | 68.53% |
| Operating Income | $112.87M | $117.41M | $70.02M | $68.05M | $61.23M | $140.41M | $138.46M | $60.10M | $56.43M | $58.05M | $56.30M | $49.74M | $46.69M | $126.85M | $45.95M | $44.73M | $42.48M | $40.60M | $43.98M | $40.69M |
| Operating Income Ratio | 63.74% | 66.87% | 41.76% | 41.46% | 37.73% | 89.28% | 89.27% | 39.48% | 37.76% | 40.14% | 40.29% | 38.25% | 37.20% | 104.36% | 37.95% | 38.11% | 36.54% | 36.15% | 37.85% | 37.26% |
| Total Other Income Expenses Net | $-57.56M | $-46.94M | $34.86M | $-14.74M | $10.45M | $30.20M | $- | $-7.10M | $-16.12M | $186.76M | $- | $-10.81M | $-10.39M | $- | $-1.75M | $10.07M | $21.02M | $42.78M | $-7.16M | $-3.99M |
| Income Before Tax | $55.31M | $70.48M | $104.88M | $53.30M | $71.68M | $90.81M | $75.94M | $55.26M | $40.31M | $86.20M | $127.11M | $39.66M | $37.05M | $119.72M | $44.19M | $54.80M | $63.50M | $83.37M | $36.83M | $36.69M |
| Income Before Tax Ratio | 31.23% | 40.14% | 62.56% | 32.47% | 44.17% | 57.74% | 48.96% | 36.30% | 26.98% | 59.61% | 90.96% | 30.50% | 29.52% | 98.49% | 36.50% | 46.68% | 54.62% | 74.25% | 31.70% | 33.60% |
| Income Tax Expense | $-5.90M | $1.17M | $3.30M | $426.00K | $1.18M | $733.00K | $333.00K | $459.00K | $7.17M | $-976.00K | $231.00K | $24.20M | $-90.00K | $2.70M | $759.00K | $1.57M | $-155.00K | $2.30M | $-39.00K | $221.00K |
| Net Income | $48.10M | $68.42M | $99.36M | $51.32M | $68.45M | $89.20M | $75.01M | $54.64M | $33.14M | $82.00M | $123.76M | $15.46M | $36.23M | $114.29M | $42.40M | $51.88M | $62.14M | $83.59M | $35.90M | $35.61M |
| Net Income Ratio | 27.17% | 38.97% | 59.27% | 31.27% | 42.18% | 56.72% | 48.36% | 35.89% | 22.18% | 56.70% | 88.56% | 11.89% | 28.86% | 94.02% | 35.02% | 44.19% | 53.45% | 74.44% | 30.90% | 32.61% |
| EPS | $0.36 | $0.54 | $0.75 | $0.39 | $0.52 | $0.67 | $0.57 | $0.41 | $0.25 | $0.62 | $0.94 | $0.12 | $0.27 | $0.87 | $0.33 | $0.40 | $0.48 | $0.65 | $0.28 | $0.28 |
| EPS Diluted | $0.36 | $0.54 | $0.75 | $0.39 | $0.52 | $0.67 | $0.57 | $0.41 | $0.25 | $0.62 | $0.94 | $0.12 | $0.27 | $0.87 | $0.33 | $0.40 | $0.48 | $0.65 | $0.28 | $0.28 |
| Weighted Average Shares Outstanding | 132.41M | 132.37M | 132.37M | 132.37M | 132.36M | 132.30M | 132.26M | 132.25M | 132.21M | 132.14M | 132.09M | 132.05M | 131.81M | 130.91M | 129.63M | 129.10M | 129.09M | 128.92M | 127.90M | 127.07M |
| Weighted Average Shares Outstanding Diluted | 132.49M | 132.42M | 132.42M | 132.40M | 132.41M | 132.36M | 132.34M | 132.34M | 132.30M | 132.24M | 132.18M | 132.11M | 131.88M | 131.00M | 129.72M | 129.19M | 129.17M | 129.12M | 128.10M | 127.27M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Annual Balance Sheet
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 |
|---|---|---|---|---|---|
| Cash and Cash Equivalents | $44.51M | $43.84M | $133.24M | $58.59M | $162.09M |
| Short Term Investments | $- | $- | $8.82M | $- | $- |
| Cash and Short Term Investments | $44.51M | $43.84M | $133.24M | $58.59M | $162.09M |
| Net Receivables | $170.19M | $155.03M | $130.05M | $103.83M | $90.28M |
| Inventory | $4.63M | $- | $11.87M | $318.85M | $15.66M |
| Other Current Assets | $7.17M | $- | $11.87M | $- | $- |
| Total Current Assets | $226.51M | $198.87M | $475.27M | $318.66M | $424.92M |
| Property Plant Equipment Net | $19.87M | $24.21M | $24.58M | $24.93M | $25.20M |
| Goodwill | $- | $- | $- | $- | $- |
| Intangible Assets | $- | $21.52M | $24.09M | $21.32M | $25.21M |
| Goodwill and Intangible Assets | $- | $21.52M | $24.09M | $21.32M | $25.21M |
| Long Term Investments | $51.18M | $44.66M | $8.82M | $36.05M | $45.70M |
| Tax Assets | $- | $- | $4.95B | $-21.32M | $-25.21M |
| Other Non-Current Assets | $4.96B | $4.89B | $-532.76M | $3.80B | $3.30B |
| Total Non-Current Assets | $5.03B | $4.98B | $4.48B | $3.86B | $3.37B |
| Other Assets | $- | $- | $- | $- | $- |
| Total Assets | $5.26B | $5.18B | $4.95B | $4.18B | $3.79B |
| Account Payables | $132.74M | $86.60M | $194.03M | $153.10M | $106.29M |
| Short Term Debt | $282.00M | $776.00K | $320.00K | $- | $261.89M |
| Tax Payables | $- | $- | $- | $- | $- |
| Deferred Revenue | $104.56M | $- | $100.17M | $98.59M | $-261.89M |
| Other Current Liabilities | $51.19M | $91.25M | $-74.38M | $37.18M | $-227.75M |
| Total Current Liabilities | $570.49M | $178.63M | $363.14M | $269.27M | $154.00M |
| Long Term Debt | $1.94B | $2.25B | $2.09B | $1.63B | $1.62B |
| Deferred Revenue Non-Current | $- | $- | $100.17M | $98.59M | $62.09M |
| Deferred Tax Liabilities Non-Current | $- | $- | $22.27M | $22.59M | $22.83M |
| Other Non-Current Liabilities | $- | $116.07M | $-142.68M | $-69.75M | $24.62M |
| Total Non-Current Liabilities | $1.94B | $2.36B | $2.06B | $1.66B | $1.69B |
| Other Liabilities | $- | $- | $- | $- | $- |
| Total Liabilities | $2.52B | $2.54B | $2.42B | $1.93B | $1.84B |
| Preferred Stock | $- | $- | $23.13M | $- | $- |
| Common Stock | $1.32M | $1.32M | $1.32M | $1.32M | $1.29M |
| Retained Earnings | $219.09M | $127.71M | $23.13M | $-178.29M | $-306.29M |
| Accumulated Other Comprehensive Income Loss | $19.94M | $22.27M | $33.41M | $-4.24M | $-16.95M |
| Other Total Stockholders Equity | $2.43B | $2.41B | $2.40B | $2.38B | $2.22B |
| Total Stockholders Equity | $2.67B | $2.56B | $2.53B | $2.25B | $1.95B |
| Total Equity | $2.75B | $2.64B | $2.60B | $2.30B | $1.99B |
| Total Liabilities and Stockholders Equity | $5.26B | $5.18B | $4.95B | $4.18B | $3.79B |
| Minority Interest | $80.42M | $72.13M | $71.10M | $53.56M | $44.59M |
| Total Liabilities and Total Equity | $5.26B | $5.18B | $4.95B | $4.18B | $3.79B |
| Total Investments | $51.18M | $44.66M | $17.64M | $36.05M | $45.70M |
| Total Debt | $2.23B | $2.25B | $2.09B | $1.63B | $1.62B |
| Net Debt | $2.18B | $2.20B | $1.96B | $1.57B | $1.46B |
Balance Sheet Charts
| Breakdown | March 31, 2025 | December 31, 2024 | September 30, 2024 | June 30, 2024 | March 31, 2024 | December 31, 2023 | September 30, 2023 | June 30, 2023 | March 31, 2023 | December 31, 2022 | September 30, 2022 | June 30, 2022 | March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | June 30, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $35.74M | $44.51M | $47.12M | $46.55M | $48.88M | $43.84M | $54.25M | $68.10M | $65.83M | $133.24M | $147.25M | $135.23M | $44.46M | $58.59M | $52.27M | $55.57M | $97.72M | $162.09M | $171.12M | $94.95M |
| Short Term Investments | $- | $- | $- | $- | $- | $- | $- | $- | $- | $8.82M | $- | $8.41M | $- | $4.65B | $- | $- | $- | $- | $- | $- |
| Cash and Short Term Investments | $35.74M | $44.51M | $47.12M | $46.55M | $48.88M | $43.84M | $54.25M | $68.10M | $65.83M | $133.24M | $147.25M | $135.23M | $44.46M | $58.59M | $52.27M | $55.57M | $97.72M | $162.09M | $171.12M | $94.95M |
| Net Receivables | $177.84M | $170.19M | $160.01M | $157.41M | $159.97M | $155.03M | $145.32M | $140.58M | $137.63M | $130.05M | $119.51M | $113.36M | $109.30M | $103.83M | $101.23M | $97.96M | $98.90M | $90.28M | $87.65M | $87.42M |
| Inventory | $- | $4.63M | $- | $1 | $- | $1 | $- | $72.00K | $1 | $11.87M | $- | $8.41M | $1 | $4.65B | $- | $- | $1 | $- | $1 | $1 |
| Other Current Assets | $1.67M | $7.17M | $26.81M | $8.00M | $- | $- | $- | $- | $- | $11.87M | $214.19M | $184.20M | $176.21M | $- | $162.39M | $174.95M | $221.59M | $172.55M | $121.05M | $172.76M |
| Total Current Assets | $215.25M | $226.51M | $233.94M | $203.96M | $208.86M | $402.15M | $199.57M | $208.67M | $203.47M | $475.27M | $480.95M | $432.80M | $329.96M | $318.66M | $315.89M | $328.49M | $418.21M | $424.92M | $379.81M | $355.13M |
| Property Plant Equipment Net | $19.54M | $19.87M | $19.90M | $20.07M | $24.09M | $24.21M | $24.24M | $24.46M | $24.28M | $24.58M | $24.33M | $24.59M | $24.62M | $24.93M | $24.76M | $24.85M | $24.95M | $25.20M | $25.36M | $25.61M |
| Goodwill | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Intangible Assets | $- | $- | $- | $- | $- | $21.52M | $- | $- | $- | $24.09M | $25.34M | $24.08M | $22.09M | $21.32M | $22.23M | $23.47M | $23.88M | $25.21M | $23.16M | $26.57M |
| Goodwill and Intangible Assets | $- | $- | $- | $- | $- | $21.52M | $- | $- | $- | $24.09M | $25.34M | $24.08M | $22.09M | $21.32M | $22.23M | $23.47M | $23.88M | $25.21M | $23.16M | $26.57M |
| Long Term Investments | $82.15M | $51.18M | $49.10M | $48.66M | $83.08M | $44.66M | $41.94M | $37.37M | $33.94M | $8.82M | $9.45M | $8.41M | $37.37M | $36.05M | $35.86M | $35.88M | $46.42M | $45.70M | $60.45M | $21.88M |
| Tax Assets | $- | $- | $- | $- | $- | $-21.52M | $- | $- | $- | $- | $- | $- | $-22.09M | $3.62B | $3.58B | $3.45B | $3.30B | $3.26B | $3.25B | $3.06B |
| Other Non-Current Assets | $5.13B | $4.96B | $-49.10M | $4.93B | $4.88B | $4.70B | $4.89B | $-37.37M | $-33.94M | $4.42B | $4.32B | $4.17B | $3.99B | $156.05M | $1.21M | $3.76M | $4.15M | $15.66M | $2.07M | $166.87M |
| Total Non-Current Assets | $5.23B | $5.03B | $19.90M | $5.00B | $4.99B | $4.77B | $4.95B | $24.46M | $24.28M | $4.48B | $4.38B | $4.23B | $4.05B | $3.86B | $3.66B | $3.54B | $3.40B | $3.37B | $3.36B | $3.30B |
| Other Assets | $- | $- | $4.95B | $- | $- | $- | $- | $4.86B | $4.72B | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Assets | $5.45B | $5.26B | $5.20B | $5.21B | $5.20B | $5.18B | $5.15B | $5.09B | $4.95B | $4.95B | $4.86B | $4.66B | $4.38B | $4.18B | $3.98B | $3.86B | $3.82B | $3.79B | $3.74B | $3.65B |
| Account Payables | $143.54M | $132.74M | $140.34M | $124.71M | $116.16M | $143.43M | $177.29M | $174.58M | $174.22M | $194.03M | $216.35M | $210.01M | $169.21M | $150.43M | $141.23M | $112.89M | $94.11M | $120.29M | $99.42M | $83.35M |
| Short Term Debt | $- | $282.00M | $2.54M | $168.00K | $- | $2.85M | $- | $- | $- | $143.00M | $- | $- | $328.68M | $329.46M | $74.00M | $261.58M | $- | $- | $- | $320.00M |
| Tax Payables | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $-90.00K | $- | $- | $- | $- | $- | $- | $- |
| Deferred Revenue | $102.01M | $104.56M | $- | $103.68M | $106.59M | $106.73M | $101.52M | $104.16M | $101.81M | $- | $- | $- | $- | $- | $- | $- | $-260.62M | $-439.00K | $-1.62M | $- |
| Other Current Liabilities | $61.47M | $51.19M | $50.97M | $354.09M | $-55.89M | $32.35M | $-57.19M | $-59.86M | $44.06M | $-116.89M | $40.79M | $40.36M | $-287.49M | $-289.62M | $42.25M | $-80.89M | $28.69M | $20.14M | $35.19M | $-284.18M |
| Total Current Liabilities | $307.02M | $570.49M | $193.84M | $582.64M | $579.44M | $486.63M | $496.62M | $476.88M | $375.28M | $363.14M | $614.14M | $532.37M | $445.32M | $269.27M | $257.48M | $216.28M | $130.23M | $154.00M | $150.07M | $455.55M |
| Long Term Debt | $2.40B | $1.94B | $2.19B | $2.24B | $1.95B | $2.24B | $1.95B | $1.95B | $2.10B | $2.09B | $2.00B | $1.93B | $1.79B | $1.63B | $1.63B | $1.56B | $1.62B | $1.62B | $1.63B | $1.65B |
| Deferred Revenue Non-Current | $- | $- | $- | $- | $- | $106.73M | $101.52M | $104.16M | $101.81M | $100.17M | $103.18M | $99.69M | $98.72M | $98.59M | $78.34M | $77.30M | $78.61M | $62.09M | $60.10M | $55.24M |
| Deferred Tax Liabilities Non-Current | $- | $- | $- | $- | $- | $-294.36M | $-323.14M | $-323.04M | $-320.09M | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Non-Current Liabilities | $- | $- | $102.51M | $-298.83M | $- | $11.85M | $-101.52M | $-104.16M | $-258.56M | $115.32M | $15.62M | $12.44M | $9.49M | $-69.75M | $-63.52M | $10.12M | $-68.04M | $11.06M | $11.64M | $-305.43M |
| Total Non-Current Liabilities | $2.40B | $1.94B | $2.29B | $1.94B | $1.95B | $2.05B | $2.05B | $2.05B | $2.05B | $2.06B | $1.76B | $1.76B | $1.66B | $1.66B | $1.64B | $1.65B | $1.71B | $1.69B | $1.70B | $1.40B |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities | $2.70B | $2.52B | $2.49B | $2.53B | $2.53B | $2.54B | $2.54B | $2.53B | $2.42B | $2.42B | $2.38B | $2.29B | $2.11B | $1.93B | $1.90B | $1.86B | $1.84B | $1.84B | $1.85B | $1.86B |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $70.68M | $- | $- | $- | $- | $- | $53.56M | $50.52M | $50.54M | $49.97M | $44.59M | $43.41M | $37.76M |
| Common Stock | $- | $- | $1.32M | $1.32M | $1.32M | $1.32M | $1.32M | $1.32M | $1.32M | $1.32M | $1.32M | $1.32M | $1.32M | $1.32M | $1.30M | $1.29M | $1.29M | $1.29M | $1.29M | $1.27M |
| Retained Earnings | $- | $- | $199.71M | $149.41M | $147.10M | $127.71M | $80.86M | $48.22M | $236.81M | $23.13M | $-19.76M | $-104.54M | $-182.53M | $-178.29M | $-257.09M | $-264.32M | $-281.32M | $-306.29M | $-357.68M | $-361.31M |
| Accumulated Other Comprehensive Income Loss | $- | $- | $9.63M | $31.65M | $32.37M | $22.27M | $45.67M | $38.22M | $20.73M | $33.41M | $36.39M | $12.37M | $6.70M | $-4.24M | $-8.39M | $-10.03M | $-10.31M | $-16.95M | $-19.97M | $-22.31M |
| Other Total Stockholders Equity | $2.65B | $2.67B | $2.42B | $2.42B | $2.41B | $2.41B | $2.41B | $2.40B | $2.40B | $2.40B | $2.40B | $2.39B | $2.39B | $2.38B | $2.29B | $2.22B | $2.22B | $2.22B | $2.22B | $2.14B |
| Total Stockholders Equity | $2.65B | $2.67B | $2.63B | $2.60B | $2.60B | $2.56B | $2.54B | $2.56B | $2.53B | $2.53B | $2.49B | $2.37B | $2.27B | $2.25B | $2.07B | $2.00B | $1.98B | $1.95B | $1.89B | $1.80B |
| Total Equity | $2.74B | $2.75B | $2.71B | $2.68B | $2.67B | $2.64B | $2.61B | $2.63B | $2.60B | $2.60B | $2.56B | $2.44B | $2.33B | $2.30B | $2.12B | $2.05B | $2.03B | $1.99B | $1.93B | $1.83B |
| Total Liabilities and Stockholders Equity | $5.45B | $5.26B | $5.20B | $5.21B | $5.20B | $5.18B | $5.15B | $5.09B | $4.95B | $4.95B | $4.86B | $4.66B | $4.38B | $4.18B | $3.98B | $3.86B | $3.82B | $3.79B | $3.74B | $3.65B |
| Minority Interest | $92.14M | $80.42M | $79.38M | $78.56M | $78.10M | $72.13M | $71.50M | $70.68M | $69.66M | $71.10M | $70.51M | $68.95M | $58.26M | $53.56M | $50.52M | $50.54M | $49.97M | $44.59M | $43.41M | $37.76M |
| Total Liabilities and Total Equity | $5.45B | $5.26B | $5.20B | $5.21B | $5.20B | $5.18B | $5.15B | $5.09B | $4.95B | $4.95B | $4.86B | $4.66B | $4.38B | $4.18B | $3.98B | $3.86B | $3.82B | $3.79B | $3.74B | $3.65B |
| Total Investments | $82.15M | $51.18M | $49.10M | $48.66M | $83.08M | $44.66M | $41.94M | $37.37M | $33.94M | $17.64M | $9.45M | $16.83M | $37.37M | $4.68B | $35.86M | $35.88M | $46.42M | $45.70M | $60.45M | $21.88M |
| Total Debt | $2.40B | $2.23B | $2.19B | $2.24B | $2.25B | $2.25B | $2.22B | $2.20B | $2.10B | $2.09B | $2.00B | $1.93B | $1.79B | $1.63B | $1.63B | $1.62B | $1.62B | $1.62B | $1.63B | $1.65B |
| Net Debt | $2.36B | $2.18B | $2.15B | $2.20B | $2.20B | $2.20B | $2.17B | $2.14B | $2.04B | $1.96B | $1.85B | $1.79B | $1.74B | $1.57B | $1.58B | $1.56B | $1.52B | $1.46B | $1.46B | $1.56B |
Annual Cash Flow
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 |
|---|---|---|---|---|---|
| Net Income | $295.99M | $285.84M | $381.61M | $277.17M | $200.17M |
| Depreciation and Amortization | $139.20M | $164.51M | $152.32M | $139.06M | $137.76M |
| Deferred Income Tax | $- | $- | $- | $-31.18M | $-35.23M |
| Stock Based Compensation | $37.09M | $- | $15.72M | $13.72M | $12.93M |
| Change in Working Capital | $- | $-6.78M | $26.41M | $13.61M | $1.84M |
| Accounts Receivables | $-710.00K | $-2.37M | $-4.90M | $-337.00K | $4.51M |
| Inventory | $- | $6.78M | $-26.45M | $-13.47M | $-1.19M |
| Accounts Payables | $11.39M | $-4.42M | $31.31M | $13.95M | $-2.67M |
| Other Working Capital | $- | $-6.78M | $26.45M | $13.47M | $1.19M |
| Other Non Cash Items | $-119.79M | $-138.76M | $-182.29M | $-162.81M | $-98.69M |
| Net Cash Provided by Operating Activities | $352.49M | $304.81M | $410.90M | $267.03M | $241.08M |
| Investments in Property Plant and Equipment | $- | $- | $-522.37M | $-233.18M | $-161.12M |
| Acquisitions Net | $-5.73M | $-12.35M | $-5.62M | $-1.55M | $-42.74M |
| Purchases of Investments | $-5.73M | $- | $-5.62M | $-1.55M | $-42.74M |
| Sales Maturities of Investments | $158.92M | $- | $175.41M | $234.73M | $203.86M |
| Other Investing Activities | $-279.09M | $-365.96M | $-270.92M | $-415.27M | $-208.99M |
| Net Cash Used for Investing Activities | $-131.62M | $-378.31M | $-629.11M | $-416.82M | $-251.74M |
| Debt Repayment | $-17.34M | $155.68M | $459.54M | $14.55M | $111.85M |
| Common Stock Issued | $- | $- | $12.82M | $145.76M | $78.72M |
| Common Stock Repurchased | $- | $-2.51M | $- | $- | $- |
| Dividends Paid | $-193.48M | $-169.37M | $-155.33M | $-139.71M | $-127.34M |
| Other Financing Activities | $-2.21M | $-11.58M | $-12.52M | $-11.69M | $-5.64M |
| Net Cash Used Provided by Financing Activities | $-213.03M | $-27.78M | $304.50M | $8.91M | $57.60M |
| Effect of Forex Changes on Cash | $- | $- | $- | $- | $- |
| Net Change in Cash | $7.84M | $-101.27M | $86.34M | $-140.88M | $46.94M |
| Cash at End of Period | $51.68M | $43.84M | $145.12M | $58.78M | $199.66M |
| Cash at Beginning of Period | $43.84M | $145.12M | $58.78M | $199.66M | $152.72M |
| Operating Cash Flow | $352.49M | $304.81M | $410.90M | $267.03M | $241.08M |
| Capital Expenditure | $- | $- | $-522.37M | $-233.18M | $-161.12M |
| Free Cash Flow | $352.49M | $304.81M | $-111.47M | $33.85M | $79.96M |
Cash Flow Charts
| Breakdown | March 31, 2025 | December 31, 2024 | September 30, 2024 | June 30, 2024 | March 31, 2024 | December 31, 2023 | September 30, 2023 | June 30, 2023 | March 31, 2023 | December 31, 2022 | September 30, 2022 | June 30, 2022 | March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | June 30, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $52.88M | $70.44M | $102.17M | $51.28M | $68.41M | $91.69M | $77.14M | $56.23M | $60.77M | $83.94M | $126.88M | $133.68M | $37.12M | $117.01M | $43.42M | $53.16M | $63.58M | $85.51M | $36.71M | $36.43M |
| Depreciation and Amortization | $35.34M | $44.81M | $40.35M | $43.05M | $41.82M | $42.57M | $41.50M | $41.29M | $39.15M | $39.26M | $39.04M | $37.53M | $36.49M | $34.89M | $35.18M | $34.75M | $34.24M | $34.41M | $36.33M | $34.20M |
| Deferred Income Tax | $- | $- | $- | $-45.00K | $20.07M | $-733.00K | $-3.44M | $-3.27M | $- | $- | $-126.00K | $45.00K | $-8.33M | $-115.11M | $- | $- | $-42.56M | $-92.55M | $39.00K | $- |
| Stock Based Compensation | $18.55M | $- | $- | $3.88M | $9.11M | $3.83M | $3.44M | $3.27M | $6.14M | $3.14M | $3.58M | $3.89M | $8.33M | $31.18M | $3.51M | $3.45M | $7.99M | $35.23M | $3.08M | $3.11M |
| Change in Working Capital | $- | $-12.14M | $21.65M | $21.25M | $-20.08M | $-15.75M | $4.72M | $6.84M | $-2.59M | $-7.84M | $11.86M | $32.63M | $-10.24M | $5.12M | $10.95M | $14.85M | $-17.31M | $-10.12M | $12.72M | $17.25M |
| Accounts Receivables | $-8.97M | $4.30M | $-949.00K | $15.31M | $-19.37M | $1.47M | $-2.30M | $10.82M | $-12.36M | $2.02M | $-2.32M | $4.09M | $-8.69M | $5.01M | $-2.41M | $4.68M | $-7.62M | $1.36M | $-1.50M | $9.10M |
| Inventory | $- | $- | $-20.07M | $- | $20.07M | $2.59M | $-4.72M | $-6.84M | $- | $7.79M | $-11.86M | $-32.63M | $- | $592.60M | $-132.41M | $-172.21M | $-287.98M | $-270.93M | $-229.75M | $-219.58M |
| Accounts Payables | $6.20M | $-16.44M | $22.60M | $5.94M | $-703.00K | $-17.22M | $7.01M | $-3.98M | $9.77M | $-9.86M | $14.18M | $28.54M | $-1.55M | $110.00K | $13.36M | $10.17M | $-9.70M | $-11.48M | $14.21M | $8.16M |
| Other Working Capital | $- | $- | $20.07M | $21.25M | $-20.08M | $-2.59M | $4.72M | $6.84M | $2.59M | $-7.79M | $11.86M | $32.63M | $-10.24M | $-592.60M | $132.41M | $172.21M | $287.98M | $270.93M | $229.75M | $219.58M |
| Other Non Cash Items | $-18.19M | $-26.33M | $-58.69M | $78.25M | $53.96M | $-76.73M | $-39.02M | $-18.57M | $-34.52M | $-63.17M | $-94.23M | $-21.46M | $-3.47M | $-2.50M | $-11.60M | $-25.68M | $-4.53M | $-1.54M | $-16.60M | $-10.28M |
| Net Cash Provided by Operating Activities | $88.58M | $76.78M | $105.47M | $107.73M | $60.47M | $64.37M | $84.33M | $85.79M | $70.32M | $64.88M | $87.13M | $198.99M | $59.90M | $70.59M | $77.95M | $77.08M | $41.41M | $50.94M | $72.27M | $77.60M |
| Investments in Property Plant and Equipment | $- | $- | $-47.56M | $-43.10M | $-68.38M | $-168.01M | $-108.77M | $-77.43M | $-94.34M | $-138.36M | $-133.85M | $-134.48M | $-115.67M | $-357.17M | $-73.93M | $-61.91M | $-85.27M | $-173.04M | $- | $- |
| Acquisitions Net | $- | $-1.79M | $-665.00K | $-663.00K | $-2.61M | $-2.29M | $-4.09M | $-3.00M | $-2.97M | $-2.82M | $-1.16M | $-257.00K | $-1.38M | $-229.00K | $- | $-580.00K | $-741.00K | $42.74M | $-38.85M | $-3.55M |
| Purchases of Investments | $-2.49M | $- | $-29.24M | $-16.48M | $-2.61M | $-9.38M | $-7.68M | $-87.35M | $-2.97M | $-3.98M | $-90.32M | $-1.64M | $-1.38M | $-1.55M | $-69.15M | $-131.67M | $-741.00K | $-42.74M | $- | $- |
| Sales Maturities of Investments | $11.46M | $- | $80.18M | $7.58M | $47.79M | $120.41M | $42.14M | $16.30M | $94.34M | $174.14M | $121.25M | $1.27M | $- | $234.73M | $13.51M | $35.60M | $65.53M | $203.86M | $- | $- |
| Other Investing Activities | $-222.32M | $-62.33M | $1.66M | $-846.00K | $4.17M | $3.84M | $6.62M | $4.51M | $-98.18M | $-146.62M | $534.00K | $-69.78M | $-200.25M | $-1.00M | $-129.94M | $-139.02M | $-843.00K | $-8.21M | $10.27M | $-59.17M |
| Net Cash Used for Investing Activities | $-213.35M | $-64.11M | $4.37M | $-52.85M | $-19.03M | $-55.43M | $-71.78M | $-146.98M | $-104.13M | $-117.64M | $-103.55M | $-204.90M | $-203.02M | $-125.22M | $-129.94M | $-139.60M | $-22.06M | $22.62M | $-28.58M | $-62.72M |
| Debt Repayment | $- | $33.91M | $-51.08M | $-7.08M | $6.92M | $- | $16.92M | $100.92M | $13.92M | $85.92M | $74.92M | $143.47M | $155.22M | $1.65M | $13.21M | $961.00K | $-1.27M | $-11.49M | $-21.15M | $-16.25M |
| Common Stock Issued | $- | $- | $- | $- | $- | $- | $- | $- | $- | $-12.82M | $- | $- | $12.82M | $86.75M | $59.01M | $- | $- | $78.72M | $- | $- |
| Common Stock Repurchased | $- | $- | $2.04M | $-9.00K | $-2.03M | $- | $- | $-51.00K | $-2.46M | $- | $- | $- | $- | $- | $- | $- | $-5.13M | $-78.72M | $- | $- |
| Dividends Paid | $-50.09M | $-50.09M | $-50.09M | $-50.09M | $-43.22M | $-43.22M | $-43.22M | $-43.22M | $-39.71M | $-39.71M | $-39.71M | $-39.70M | $-36.21M | $-35.82M | $-35.52M | $-35.52M | $-32.84M | $-32.84M | $-32.38M | $-32.38M |
| Other Financing Activities | $160.58M | $- | $-33.00K | $-45.00K | $-98.00K | $23.87M | $-105.00K | $-69.00K | $-11.36M | $-205.00K | $-2.19M | $-7.28M | $-2.85M | $-194.00K | $-6.30M | $-4.00K | $-5.19M | $-685.00K | $79.71M | $- |
| Net Cash Used Provided by Financing Activities | $110.49M | $-16.17M | $-101.21M | $-57.21M | $-36.40M | $-19.35M | $-26.41M | $57.59M | $-39.61M | $46.00M | $33.02M | $96.49M | $128.99M | $52.39M | $30.40M | $-34.57M | $-39.30M | $-45.02M | $26.59M | $-49.04M |
| Effect of Forex Changes on Cash | $- | $- | $- | $- | $- | $9.68M | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Net Change in Cash | $-14.27M | $-3.51M | $8.64M | $-2.34M | $5.04M | $-10.41M | $-13.85M | $-3.60M | $-73.42M | $-6.72M | $16.60M | $90.59M | $-14.13M | $-2.24M | $-21.59M | $-97.08M | $-19.96M | $28.54M | $70.28M | $-34.16M |
| Cash at End of Period | $37.41M | $51.68M | $55.19M | $46.55M | $48.88M | $43.84M | $54.25M | $68.10M | $71.70M | $145.12M | $151.84M | $135.23M | $44.65M | $58.78M | $61.02M | $82.61M | $179.70M | $199.66M | $171.12M | $100.84M |
| Cash at Beginning of Period | $51.68M | $55.19M | $46.55M | $48.88M | $43.84M | $54.25M | $68.10M | $71.70M | $145.12M | $151.84M | $135.23M | $44.65M | $58.78M | $61.02M | $82.61M | $179.70M | $199.66M | $171.12M | $100.84M | $135.00M |
| Operating Cash Flow | $88.58M | $76.78M | $105.47M | $107.73M | $60.47M | $64.37M | $84.33M | $85.79M | $70.32M | $64.88M | $87.13M | $198.99M | $59.90M | $70.59M | $77.95M | $77.08M | $41.41M | $50.94M | $72.27M | $77.60M |
| Capital Expenditure | $- | $- | $-47.56M | $-43.10M | $-68.38M | $-168.01M | $-108.77M | $-77.43M | $-94.34M | $-138.36M | $-133.85M | $-134.48M | $-115.67M | $-357.17M | $-73.93M | $-61.91M | $-85.27M | $-173.04M | $- | $- |
| Free Cash Flow | $88.58M | $76.78M | $105.47M | $64.62M | $-7.91M | $-103.64M | $-24.43M | $8.36M | $-24.02M | $-73.49M | $-46.72M | $64.51M | $-55.77M | $-286.57M | $4.02M | $15.16M | $-43.87M | $-122.10M | $72.27M | $77.60M |
First Industrial Realty Trust, Inc. (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types. In total, we own and have under development approximately 64.1 million square feet of industrial space as of September 30, 2020.
$47.58
Stock Price
$6.30B
Market Cap
151
Employees
Chicago, IL
Location
Revenue (FY 2024)
$669.64M
9.1% YoY
Net Income (FY 2024)
$287.55M
4.6% YoY
EPS (FY 2024)
$2.17
4.8% YoY
Free Cash Flow (FY 2024)
$352.49M
15.6% YoY
Profitability
Gross Margin
72.7%
Net Margin
42.9%
ROE
10.8%
ROA
5.5%
Valuation
P/E Ratio
23.08
P/S Ratio
9.91
EV/EBITDA
15.83
Market Cap
$6.30B
Revenue & Net Income
Profit Margins
Cash Flow Summary
Operating Cash Flow
$352.49M
15.6% YoY
Free Cash Flow
$352.49M
15.6% YoY
Balance Sheet Summary
Total Assets
$5.26B
1.7% YoY
Total Debt
$2.23B
0.9% YoY
Shareholder Equity
$2.67B
4.1% YoY
Dividend Overview
$0.45
Latest Dividend
%
Dividend Yield
%
Payout Ratio
Recent Dividend History
| Date | Amount | Type |
|---|---|---|
| 2025-03-31 | $0.45 | March 31, 25 |
| 2024-12-31 | $0.37 | December 31, 24 |
| 2024-09-30 | $0.37 | September 30, 24 |
| 2024-06-28 | $0.37 | June 28, 24 |
| 2024-03-27 | $0.37 | March 27, 24 |
| 2023-12-28 | $0.32 | December 28, 23 |
| 2023-09-28 | $0.32 | September 28, 23 |
| 2023-06-29 | $0.32 | June 29, 23 |
| 2023-03-30 | $0.32 | March 30, 23 |
| 2022-12-29 | $0.30 | December 29, 22 |
First Industrial Realty Trust Dividends
Explore First Industrial Realty Trust's dividend history, including dividend yield, payout ratio, and historical payments.
Dividend Yield
2.92%
Dividend Payout Ratio
67.29%
Dividend Paid & Capex Coverage Ratio
1.82x
First Industrial Realty Trust Dividend History
| Dividend | Adjusted Dividend | Date | Record Date | Payment Date | Declaration Date |
|---|---|---|---|---|---|
| $0.445 | $0.445 | March 31, 2025 | March 31, 2025 | April 21, 2025 | February 05, 2025 |
| $0.37 | $0.37 | December 31, 2024 | December 31, 2024 | January 21, 2025 | October 30, 2024 |
| $0.37 | $0.37 | September 30, 2024 | September 30, 2024 | October 21, 2024 | August 01, 2024 |
| $0.37 | $0.37 | June 28, 2024 | June 28, 2024 | July 15, 2024 | April 30, 2024 |
| $0.37 | $0.37 | March 27, 2024 | March 28, 2024 | April 15, 2024 | February 07, 2024 |
| $0.32 | $0.32 | December 28, 2023 | December 29, 2023 | January 16, 2024 | November 01, 2023 |
| $0.32 | $0.32 | September 28, 2023 | September 29, 2023 | October 16, 2023 | August 03, 2023 |
| $0.32 | $0.32 | June 29, 2023 | June 30, 2023 | July 17, 2023 | May 03, 2023 |
| $0.32 | $0.32 | March 30, 2023 | March 31, 2023 | April 17, 2023 | February 08, 2023 |
| $0.295 | $0.295 | December 29, 2022 | December 31, 2022 | January 17, 2023 | November 01, 2022 |
| $0.295 | $0.295 | September 29, 2022 | September 30, 2022 | October 17, 2022 | August 05, 2022 |
| $0.295 | $0.295 | June 29, 2022 | June 30, 2022 | July 18, 2022 | May 04, 2022 |
| $0.295 | $0.295 | March 30, 2022 | March 31, 2022 | April 18, 2022 | February 09, 2022 |
| $0.27 | $0.27 | December 30, 2021 | December 31, 2021 | January 18, 2022 | November 02, 2021 |
| $0.27 | $0.27 | September 29, 2021 | September 30, 2021 | October 18, 2021 | August 06, 2021 |
| $0.27 | $0.27 | June 29, 2021 | June 30, 2021 | July 19, 2021 | May 05, 2021 |
| $0.27 | $0.27 | March 30, 2021 | March 31, 2021 | April 19, 2021 | February 10, 2021 |
| $0.25 | $0.25 | December 30, 2020 | December 31, 2020 | January 19, 2021 | November 03, 2020 |
| $0.25 | $0.25 | September 29, 2020 | September 30, 2020 | October 19, 2020 | August 04, 2020 |
| $0.25 | $0.25 | June 29, 2020 | June 30, 2020 | July 20, 2020 | May 06, 2020 |
First Industrial Realty Trust News
Read the latest news about First Industrial Realty Trust, including recent articles, headlines, and updates.
First Industrial Realty Trust, Inc. (FR) Q1 2025 Earnings Call Transcript
First Industrial Realty Trust, Inc. (NYSE:FR ) Q1 2025 Earnings Conference Call April 17, 2025 11:00 AM ET Company Participants Art Harmon - SVP, IR and Marketing Peter Baccile - President and CEO Scott Musil - CFO Jojo Yap - CIO Peter Schultz - EVP Conference Call Participants Ki Bin Kim - Truist Craig Mailman - Citi Rob Stevenson - Janney Vikram Malhotra - Morgan Stanley Michael Carroll - RBC Capital Markets Nick Yulico - Scotiabank Caitlin Burrows - Goldman Sachs Blaine Heck - Wells Fargo Rich Anderson - Wedbush Securities Mike Mueller - JPMorgan Vince Tibone - Green Street Advisors Brendan Lynch - Barclays Operator Good day, and welcome to the First Industrial Realty Trust, Inc. First Quarter 2025 Results Call. All participants will be in a listen-only mode.
FIRST INDUSTRIAL REALTY TRUST REPORTS FIRST QUARTER 2025 RESULTS
Cash Same Store NOI Growth of 10.1% Cash Rental Rates Up 42% in 1Q25 30% Cash Rental Rate Increase on Leases Signed To-Date Commencing in 2025; 36% Increase Excluding 1.3 Million Square-Foot Fixed-Rate Renewal Acquired Two 100% Leased Buildings from Our Camelback 303 JV in Phoenix; 796,000 Square Feet, $120 Million Purchase Price, Net of Our Share of Gain on Sale and Promote, Cash Yield of 6.4% Two Planned Development Starts for 2Q25 Totaling 402,000 Square Feet in Dallas and Philadelphia, $54 Million Estimated Investment, Estimated Combined Cash Yield of 8% Renewed Unsecured Revolving Credit Facility, Upsizing It $100 Million to $850 Million, and Renewed $200 Million Unsecured Term Loan Increased First Quarter 2025 Dividend to $0.445 Per Share, a 20.3% Increase CHICAGO , April 16, 2025 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced results for the first quarter of 2025. First Industrial's diluted net income available to common stockholders per share (EPS) was $0.36 in the first quarter, compared to $0.52 a year ago and first quarter funds from operations (FFO) was $0.68 per share/unit on a diluted basis, compared to $0.60 per share/unit a year ago.
Markets Gone Wild
US equity markets fluctuated wildly in a tumultuous week - ultimately ending with the best weekly gains since November 2023 - after the White House announced a delay on the most "reciprocal" tariffs. Following several days of extreme volatility in which tremors of instability were felt across global markets, investors exhaled as the Administration's tariff messaging pivoted from "retribution" and "score-settling" to dealmaking. Government bond markets were in focus throughout the week as the 10-Year Treasury experienced significant and still-unexplained weakness, failing to act as typical "safe havens" during the market plunge.
First Industrial Realty Trust (FR) Moves 7.6% Higher: Will This Strength Last?
First Industrial Realty Trust (FR) witnessed a jump in share price last session on above-average trading volume. The latest trend in FFO per share estimate revisions for the stock suggests that there could be more strength down the road.
After Plunging -17.4% in 4 Weeks, Here's Why the Trend Might Reverse for First Industrial Realty Trust (FR)
The heavy selling pressure might have exhausted for First Industrial Realty Trust (FR) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
First Industrial Realty Trust: One Of The Best Industrial REITs
First Industrial Realty Trust, Inc. remains a top-tier industrial REIT with strong rent growth and a strategic focus on 15 key U.S. markets. Despite a drop in occupancy rates, FR's ability to capitalize on market rent growth and short lease terms supports its dynamic rent increases. The industrial property market faces oversupply challenges, but decreasing net completions and construction starts hint at a potential turnaround.
Industrial REITs Standardize Key Property Metrics
CHICAGO , April 1, 2025 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR) today announced a coalition of industrial real estate investment trusts – First Industrial, EastGroup Properties, Inc., Prologis, Inc., and STAG Industrial, Inc. (collectively, the "Industrial REIT Group") – has updated its standardized methodology for calculating key non-GAAP property metrics to improve comparability across the sector. Building on the 2018 harmonization initiative, the Industrial REIT Group reaffirmed its approach to determining property stabilization, occupancy, rent change, and customer retention.
First Industrial: The Dividend Growth Giant That Doesn't Get Enough Attention
First Industrial Realty Trust stands out among REITs, offering a well-supported dividend and consistent earnings increases over time. FR's portfolio focuses on industrial and commercial properties, ensuring stability and resilience, with a 96.2% occupancy rate and high-profile tenants like Amazon. Despite trading at a premium, FR's financial strength and consistent earnings growth justify its valuation, with a potential 10% price increase in the next year.
First Industrial Realty Trust To Host First Quarter 2025 Results Conference Call On April 17
CHICAGO , March 28, 2025 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, will host its first quarter 2025 results conference call on Thursday, April 17, 2025 at 10:00 a.m. CDT (11:00 a.m.
21 Upcoming Dividend Increases To Finish Q1
The lists were created using the U.S. Dividend Champions spreadsheet and NASDAQ data, ensuring companies have at least five years of dividend growth. My investment strategy focuses on buying, holding, and adding to companies with consistent dividend growth and outperformance relevant to certain benchmarks. Top-performing stocks include MPWR, STLD, and JPM. Top REITs include CTR, FR, and REXR for their impressive returns and dividend growth rates.
Certainly Uncertain
US equity markets posted modest gains this week - snapping a four-week losing streak - as investors parsed commentary and updated forecasts from the Federal Reserve's policy meeting. Ahead of the looming April 2nd unveiling of reciprocal tariffs, investors were relieved by FOMC projections showing that 11-of-19 policy markets still expect at least two rate cuts this year. Disappointing retail sales data indicated that economic uncertainty is beginning to affect real-world consumer behavior. Housing market data was relatively solid, however, sparking an upward revision to the GDPNow forecast.
The State Of REITs: March 2025 Edition
REITs bounced back (+1.77%) in February and now have a positive year-to-date total return (+0.79%) after the first two months of the year. Large cap (+4.58%), small cap (+2.00%) and mid cap REITs (+0.98%) performed well in February while micro caps (-1.55%) continued to badly underperform their larger peers. 64.97% of REIT securities had a positive total in February.
First Industrial Realty Trust Closes $850 Million Unsecured Revolving Credit Facility and $200 Million Unsecured Term Loan
CHICAGO , March 18, 2025 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced it has closed an $850 million senior unsecured revolving credit facility. The facility amends and restates the Company's previous revolving credit facility and adds an additional $100 million of capacity.
Great News For REIT Investors
REITs positioned for strong gains as interest rate cuts and lower Treasury yields drive investor demand. Decade-low REIT valuations and reduced new real estate development create opportunities for high returns. High-dividend REITs offering 5-7% yields attract income investors seeking alternatives to bonds and Treasuries.
First Industrial Realty Trust to Present at Citi's 2025 Global Property CEO Conference
CHICAGO, Feb. 28, 2025 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced that it will present at Citi's 2025 Global Property CEO Conference. The presentation is scheduled for Tuesday, March 4, 2025 at 11:40 a.m. EST (10:40 a.m. CST). aAdsList.push('Article'); aAdsListSize.push([300, 250]); aAdsListCA.push(null); A live webcast of the presentation will be available at www.firstindustrial.com under the Investors tab. A replay of the webcast will also be available through May 31, 2025. Presentation materials for the conference will also be available in the Investors section of the company website on Monday, March 3, 2025.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 69.5 million square feet of industrial space as of December 31, 2024. For more information, please visit us at www.firstindustrial.com.Forward-Looking StatementsThis press release and the presentation to which it refers may contain 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 ("Exchange Act"). 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, 2024, 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. View original content to download multimedia:https://www.prnewswire.com/news-releases/first-industrial-realty-trust-to-present-at-citis-2025-global-property-ceo-conference-302388723.html SOURCE First Industrial Realty Trust, Inc.
Should You Buy First Industrial Realty Trust (FR) After Golden Cross?
From a technical perspective, First Industrial Realty Trust, Inc. (FR) is looking like an interesting pick, as it just reached a key level of support. FR's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.
First Industrial: 20% Dividend Raise And Rosy Outlook Make It A Buy
First Industrial has strong growth, driven by high demand for its well-located industrial properties and robust leasing activity. FR's solid fundamentals include an 8.6% YoY FFO per share growth, 96.2% occupancy, and impressive lease spreads. Management projects continued strong growth in rental rates and FFO/share, and has an active development pipeline in supply constrained markets.
First Industrial Realty Trust Announces Annual Meeting of Stockholders and Record Date
CHICAGO , Feb. 13, 2025 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced that the Company's Annual Meeting of Stockholders will be held on April 30, 2025 virtually. First Industrial's Board of Directors set March 7, 2025 as the record date for the Annual Meeting.
First Industrial Realty Trust Reports Fourth Quarter and Full Year 2024 Results
2025 NAREIT FFO Guidance Initiated at a Range of $2.87 to $2.97 Per Share/Unit, Approximately 10% Growth at the Midpoint Increased First Quarter 2025 Dividend to $0.445 Per Share, a 20.3% Increase Signed 4.7 Million Square Feet of Development Leases in 2024 Inclusive of Joint Venture, Second Highest Annual Total Since 2012; 1.4 Million Square Feet Signed in the Fourth Quarter Cash Rental Rates Up 50.8%, Second Consecutive Annual Increase Greater Than 50% 33% Cash Rental Rate Increase on Leases Signed To-Date Commencing in 2025; 42% Increase Excluding 1.3 Million Square-Foot Fixed-Rate Renewal Cash Same Store NOI Growth of 9.3% in the Fourth Quarter, 8.1% for Full Year 2024 Started Two Developments in the Fourth Quarter Totaling 679,000 Square Feet in Nashville and Lehigh Valley, Estimated Investment of $96 Million Sold Five Buildings for $25 Million in the Fourth Quarter; $163 Million Sold in 2024 CHICAGO , Feb. 5, 2025 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced results for the fourth quarter and full year 2024. First Industrial's diluted net income available to common stockholders per share (EPS) was $0.52 in the fourth quarter, compared to $0.67 a year ago.
First Industrial Realty Trust Reports Tax Treatment Of Common Stock Distributions
CHICAGO , Jan. 17, 2025 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today reported the tax treatment of its 2024 distributions. This release is based on the preliminary results of work on the Company's tax filings and may be subject to correction or adjustment when the filings are completed.
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