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First Industrial Realty Trust: Q3 Earnings Snapshot
By AP News - Oct 16, 2024, 04:37 PM ET
Last Updated - Dec 16, 2024, 06:16 PM EST
CHICAGO (AP) — CHICAGO (AP) — First Industrial Realty Trust Inc. (FR) on Wednesday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Chicago, said it had funds from operations of $92.3 million, or 68 cents per share, in the period.
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The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 67 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $99.4 million, or 75 cents per share.
The real estate investment trust, based in Chicago, posted revenue of $167.6 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $166.8 million.
First Industrial Realty Trust expects full-year funds from operations to be $2.09 to $2.13 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FR at https://www.zacks.com/ap/FR
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