First Industrial Realty (FR) Tops Q1 EPS by 17c

First Industrial Realty (NYSE: FR) reported Q1 EPS of $0.30, $0.17 better than the analyst estimate of $0.13. FFO was $0.38.

• Occupancy of 97.1%, Up 130 Basis Points from 1Q17
• Cash Same Store NOI Grew 6.1%
• Cash Rental Rates Were Up 9.3%
• Formed Joint Venture That Acquired 532 Net Acres for Future Development and Land Sales at the PV-303 Business Park in Phoenix
• Closed on $300 Million Private Placement of Unsecured Notes
• Earned 'BBB' Unsecured Credit Rating from Standard and Poor\'s Global Ratings
• Increased First Quarter 2018 Dividend to $0.2175 Per Share, a 3.6% Increase
• Acquired Five Buildings Comprised of 354,000 Square Feet Plus One Development Site for $61 Million
• Sold Eight Buildings Comprised of 485,000 Square Feet Plus One Land Parcel for $42.4 Million

For earnings history and earnings-related data on First Industrial Realty (FR) click here.

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