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First Industrial Realty Trust Reports Fourth Quarter and Full Year 2024 Results

1. FR's 2025 FFO guidance expects 10% growth, driving significant dividends increase. 2. Cash rental rates surged 50.8%, indicating strong demand and profitability in leasing.

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FAQ

Why Bullish?

The increased guidance and cash rental growth suggest robust future earnings potential, historically leading to share price appreciation.

How important is it?

The article reveals critical financial metrics and guidance that directly relate to FR's operational health and future stock performance.

Why Long Term?

Sustained rental rate increases and positive FFO guidance can influence long-term investor confidence and stock performance, as seen in prior market cycles.

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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.

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