First Industrial Realty Trust ( (FR) ) has released its Q1 earnings. Here is a breakdown of the information First Industrial Realty Trust presented to its investors.
First Industrial Realty Trust, Inc. is a prominent U.S.-based owner, operator, and developer of logistics properties, focusing on supply-constrained, coastally oriented markets. In its first quarter of 2025 earnings report, the company highlighted significant growth in cash rental rates and same-store net operating income (NOI), alongside strategic acquisitions and developments. Key financial metrics revealed a 10.1% increase in cash same-store NOI and a 42% rise in cash rental rates. The company also expanded its portfolio by acquiring two fully leased buildings in Phoenix and announced plans for new developments in Dallas and Philadelphia. Despite a decrease in net income per share compared to the previous year, funds from operations (FFO) per share increased, reflecting strong operational performance. Looking ahead, First Industrial Realty Trust maintains a positive outlook for 2025, with expectations of steady occupancy rates and continued growth in same-store NOI, supported by ongoing investments and strategic developments.