First Industrial Realty Q4 EPS beats estimates
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
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
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