First Industrial Realty Trust

FR

Market cap $7.98B

First Industrial Realty Trust is downgraded from buy to hold due to less attractive valuation and limited total return potential given market conditions. FR continues to deliver double-digit CAGR in FFO and DPS, with Q1 leasing performance exceeding expectations. Industrial market fundamentals are softening, with supply outpacing demand and vacancy rates rising, impacting FR's negotiating position.

First Industrial Realty Trust, Inc. (FR) Presents at Nareit REITweek: 2026 Investor Conference Transcript

CHICAGO, June 1, 2026 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, will present at Nareit's REITWeek 2026 Investor Conference on Tuesday, June 2, 2026 at 2:30 PM EDT (1:30 PM CDT). A webcast of the presentation will be available on First Industrial's website at www.firstindustrial.com under the "Investors" tab.

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CHICAGO, April 30, 2026 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced that, based on the final vote count provided by its Independent Inspector of Elections following the Company's 2026 Annual Meeting of Stockholders (the "Annual Meeting"), shareholders re-elected each of the Company's incumbent directors – Peter E. Baccile, Teresa Bryce Bazemore, Matthew S.

CHICAGO, April 30, 2026 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced that its board of directors declared a common stock dividend of $0.50 per share/unit for the quarter ending June 30, 2026 payable on July 20, 2026 to stockholders of record on June 30, 2026. 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.

First Industrial Realty Trust is a disciplined industrial REIT, leveraging strategic development and capital recycling for steady income and growth. FR's Q1 results showed robust fundamentals: 8.7% same-store NOI growth, 41% cash leasing spreads, and stable 94.3% occupancy. Industry tailwinds are turning positive, with moderating supply, resilient demand, and FR's early lease renewal progress reducing rollover risk.

First Industrial Realty Trust, Inc. (FR) Q1 2026 Earnings Call Transcript

First Industrial Realty Trust (FR) came out with quarterly funds from operations (FFO) of $0.68 per share, missing the Zacks Consensus Estimate of $0.72 per share. This compares to FFO of $0.68 per share a year ago.

Cash Same Store NOI Growth of 8.7% Cash Rental Rates Up 32% in 1Q26 41% Cash Rental Rate Increase on Leases Signed To Date Commencing in 2026; Includes 556,000 SF Renewal in the Inland Empire Signed Agreement with 3PL Credit Watchlist Tenant; Collected Approximately 60% of Balance Owed at Year-End 2025 with Scheduled Payments to Collect Remainder by End of 2026 Signed 383,000 SF of New Leases for Several Development Projects in the First Quarter and Second Quarter To Date Started Two Developments in the First Quarter Totaling 305,000 SF in Miami and Dallas, Estimated Investment of $70 Million Closed $425 Million and $375 Million Unsecured Term Loans Increased First Quarter 2026 Dividend to $0.50 Per Share, a 12.4% Increase CHICAGO , April 22, 2026 /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 2026. First Industrial's diluted net income available to common stockholders per share (EPS) was $1.08 in the first quarter, compared to $0.36 a year ago and first quarter funds from operations (FFO) was $0.68 per share/unit on a diluted basis, compared to $0.68 per share/unit a year ago.