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First Industrial Realty Trust: Q4 Earnings Snapshot
By AP News - Feb 05, 2025, 05:06 PM ET
Last Updated - Feb 05, 2025, 05:06 PM EST
CHICAGO (AP) — CHICAGO (AP) — First Industrial Realty Trust Inc. (FR) on Wednesday reported a key measure of profitability in its fourth quarter. The results beat Wall Street expectations.
The real estate investment trust, based in Chicago, said it had funds from operations of $95.7 million, or 71 cents per share, in the period.
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The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 69 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 $68.4 million, or 52 cents per share.
The real estate investment trust, based in Chicago, posted revenue of $175.6 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $169.5 million.
For the year, the company reported funds from operations of $359.4 million. Revenue was reported as $669.6 million.
First Industrial Realty Trust expects full-year funds from operations in the range of $2.87 to $2.97 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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