First Industrial Realty Trust ( (FR) ) has released its Q2 earnings. Here is a breakdown of the information First Industrial Realty Trust presented to its investors.
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First Industrial Realty Trust, Inc. is a prominent U.S.-based owner, operator, and developer of logistics properties, catering to multinational corporations and regional firms to support their supply chains.
In its second quarter of 2025 earnings report, First Industrial Realty Trust announced a strong performance with significant growth in rental rates and a successful public bond offering, marking its first since 2007. The company also reported an increase in funds from operations and net income per share compared to the previous year.
Key financial highlights include an 8.7% growth in cash same-store net operating income and a 33% increase in cash rental rates on leases commencing in 2025. The company also achieved a ‘BBB+’ unsecured credit rating from Fitch Ratings and issued $450 million in senior unsecured notes. Additionally, First Industrial Realty Trust initiated two development projects and completed a lease at its First Loop Logistics Park in Orlando.
Looking ahead, First Industrial Realty Trust maintains a positive outlook for 2025, with expectations of continued growth in net income and funds from operations. The company anticipates maintaining high occupancy rates and further capitalizing on its strategic developments and investments.