NYSE$FR
First Industrial Realty Trust Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported first quarter results with strong rental rate increases and significant leasing activity.
First Industrial Realty Trust reported strong first quarter 2024 results, marked by significant leasing activity and rental rate increases. The company signed 1.6 million square feet of new leases for speculative developments and achieved a 45% cash rental rate increase on leases commencing in 2024. Cash Same Store NOI grew by 10.0%.
- Signed 1.6 million square feet of new leases for speculative developments.
- Achieved a 45% cash rental rate increase on leases signed to-date commencing in 2024.
- Reported cash Same Store NOI growth of 10.0%.
- Increased first quarter 2024 dividend to $0.37 per share, a 15.6% growth compared to the prior quarterly rate.
Headline financials
Revenue & EPS history
First Industrial · Revenue · Quarterly
$162M
Forward guidance
The company has adjusted certain leasing assumptions within its same store portfolio that are reflected in updated guidance due to ongoing uncertainty in the overall economy and interest rate environment.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.3%
Avg return
Earnings day
+1.2%
Avg return
5 days after
+1.6%
Avg return
30 days after
62%
40 / 65 earnings
Positive
+4.9%
Q2 2015
Best reaction
-19.6%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.8% | -1.4% | -0.1% | |
| Q4 2025 | +2.2% | +2.9% | +2.4% | |
| Q3 2025 | +1.4% | +3.4% | +3.8% | |
| Q2 2025 | +0.8% | +3.1% | +7.6% | |
| Q1 2025 | +1.5% | -1.1% | +9.1% | |
| Q4 2024 | +2.6% | +2.3% | +7.0% | |
| Q3 2024 | -0.9% | -1.1% | -4.9% | |
| Q2 2024 | +4.1% | +6.5% | +6.7% | |
| Q1 2024 | -8.7% | -9.2% | -4.7% | |
| Q4 2023 | +4.1% | +5.1% | +3.4% | |
| Q3 2023 | -5.3% | -7.0% | -0.2% | |
| Q2 2023 | -1.7% | +0.3% | -3.9% | |
| Q1 2023 | +2.4% | +1.1% | +1.6% | |
| Q4 2022 | +0.0% | +0.2% | -5.3% | |
| Q3 2022 | -2.3% | -2.0% | +8.0% | |
| Q2 2022 | +1.4% | +3.5% | +13.2% | |
| Q1 2022 | +0.7% | +0.2% | -18.4% | |
| Q4 2021 | -0.6% | -1.9% | -3.0% | |
| Q3 2021 | +1.7% | +2.2% | +7.3% | |
| Q2 2021 | -2.2% | -0.8% | +1.0% | |
| Q1 2021 | -2.1% | -1.3% | +0.7% | |
| Q4 2020 | +1.2% | +1.6% | +4.0% | |
| Q3 2020 | +0.7% | -0.7% | +0.6% | |
| Q2 2020 | +3.8% | +6.1% | +8.7% | |
| Q1 2020 | +4.8% | +12.5% | +8.6% | |
| Q4 2019 | +3.3% | +3.6% | -22.1% | |
| Q3 2019 | +2.3% | +3.2% | +2.8% | |
| Q2 2019 | +0.4% | +1.4% | +1.3% | |
| Q1 2019 | +2.2% | +2.5% | +0.4% | |
| Q4 2018 | +0.7% | +1.0% | +3.9% | |
| Q3 2018 | +3.2% | +2.0% | +2.9% | |
| Q2 2018 | +2.7% | +1.9% | +2.6% | |
| Q1 2018 | +1.2% | +3.6% | +9.6% | |
| Q4 2017 | -0.1% | +1.3% | -0.1% | |
| Q3 2017 | -0.5% | -0.3% | +5.9% | |
| Q2 2017 | +2.0% | +2.2% | +2.1% | |
| Q1 2017 | +1.8% | +1.0% | +3.9% | |
| Q4 2016 | -0.3% | +1.2% | -0.8% | |
| Q3 2016 | -3.3% | -3.0% | -0.9% | |
| Q2 2016 | +3.9% | +3.0% | -0.3% | |
| Q1 2016 | +0.2% | — | — | |
| Q4 2015 | +2.1% | — | — | |
| Q3 2015 | -0.6% | — | — | |
| Q2 2015 | +4.9% | — | — | |
| Q1 2015 | -0.2% | — | — | |
| Q4 2014 | -0.9% | — | — | |
| Q3 2014 | +1.3% | — | — | |
| Q2 2014 | +0.5% | — | — | |
| Q1 2014 | -2.7% | — | — | |
| Q4 2013 | +1.1% | — | — | |
| Q3 2013 | -2.4% | — | — | |
| Q2 2013 | +3.9% | — | — | |
| Q1 2013 | +1.6% | — | — | |
| Q4 2012 | +3.0% | — | — | |
| Q3 2012 | +0.0% | — | — | |
| Q2 2012 | +3.3% | — | — | |
| Q1 2012 | -1.9% | — | — | |
| Q4 2011 | -0.7% | — | — | |
| Q3 2011 | -2.5% | — | — | |
| Q2 2011 | -19.6% | — | — | |
| Q1 2011 | -4.0% | — | — | |
| Q4 2010 | -2.4% | — | — | |
| Q3 2010 | +2.0% | — | — | |
| Q2 2010 | +1.1% | — | — | |
| Q1 2010 | -0.9% | — | — |
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