First Industrial Realty Q4 EPS beats estimates

First Industrial Realty Trust

04/02/2026 21:41

Overview

Logistics real estate firm's Q4 revenue slightly beat analyst expectations

EPS for Q4 beat analyst expectations

Company increased quarterly dividend by 12.4%

Outlook

Company initiates 2026 NAREIT FFO guidance at $3.09 to $3.19 per share/unit

First Industrial expects 2026 net income of $1.58 to $1.68 per share/unit

Company anticipates cash basis SS NOI growth of 5.0% to 6.0% in 2026

Result Drivers

CASH RENTAL RATE INCREASE - Co reported a 32% increase in cash rental rates for leases commencing in 2025, with a 35% increase for leases signed to date commencing in 2026

ACQUISITIONS AND DEVELOPMENTS - Acquired a 968,000 SF building in Phoenix and started new developments in Miami and Dallas

REFINANCING - Co refinanced $425 mln and $375 mln unsecured term loans, extending maturities and eliminating previous SOFR adjustments

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Slight Beat*
$188.41 mln
$187.22 mln (7 Analysts)
Q4 EPS
Beat
$0.59
$0.42 (5 Analysts)
Q4 Net Income
$86.95 mln
Q4 Adjusted FFO
$73.62 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Press Release: ID:nPn8RGGQxa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)