FIRST INDUSTRIAL REALTY TRUST INC 8K

First Industrial Realty Trust, Inc. reported strong second quarter 2026 operating and financial results, executed major leasing and investment transactions, and raised its 2026 FFO guidance midpoint by $0.02 per share/unit.

On July 22, 2026, First Industrial Realty Trust, Inc. reported its second quarter 2026 results, highlighting year-over-year growth in diluted EPS to $0.58 from $0.42 and diluted FFO per share/unit to $0.82 from $0.76, driven by strong leasing activity, including a new 708,000 square-foot lease in Central Pennsylvania and full-building leases across several development projects, as well as a 6.7% cash same store NOI increase and 39% cash rental rate growth on new and renewal leasing. The company reported in-service occupancy of 94.9% and detailed significant investment and capital allocation actions, including commencing development of the 613,000 square-foot First Park New Castle Building A in Philadelphia with an estimated $77 million investment, acquiring a 161,000 square-foot building in Dallas for $26 million, purchasing a 58-acre land site in Baltimore for $39 million, closing a 100-acre income-producing land sale in Phoenix for $131 million, and selling four buildings in Detroit for $29 million. Based on strengthened fundamentals and second quarter leasing results, First Industrial increased its 2026 FFO guidance by $0.02 at the midpoint to a range of $3.08–$3.16 per share/unit for NAREIT FFO and $3.12–$3.20 per share/unit for FFO before advisory costs related to a contested proxy campaign, supported by assumptions including 94.0%–95.0% average quarter-end in-service occupancy and 5.25%–6.25% cash SS NOI growth.

Filing Facts

CIK

921825

Ticker

-

Form

8K

Source Type

sec

Accession

0000921825-26-000060

Alert Tier

7