First Industrial Realty Trust Inc. Reports Strong Q2 2025 Results

First Industrial Realty Trust Inc. (NYSE: FR), a leading U.S. logistics real estate owner and operator, has reported robust financial results for the second quarter of 2025. The company’s performance exceeded expectations, with notable achievements in earnings and operational growth.

Financial Highlights

The company posted a diluted earnings per share (EPS) of $0.42, up from $0.39 in the same quarter of the previous year. Funds from operations (FFO) per share reached $0.76, marking an increase from $0.66 in the prior year. These results surpassed analysts’ expectations, with FFO beating estimates by $0.03 and revenue of $180.16 million exceeding projections by $2.88 million.

Operational Achievements

Key operational highlights include an 8.7% cash same-store net operating income (NOI) growth and a significant 33% cash rental rate increase on leases signed to date, commencing in 2025. Excluding a 1.3 million square feet fixed-rate renewal, the rental rate increase was 38%. The company successfully leased 58,000 square feet at First Loop Logistics Park in Orlando during the quarter.

Market and Analyst Reactions

Following the strong Q2 results, First Industrial Realty Trust stock maintains a Buy rating from Truist Securities. Analysts had anticipated an EPS of $0.383 and a revenue increase of 8.19% to $177.6 million, both of which were surpassed by the company’s actual performance.

Credit Rating and Bond Offering

First Industrial Realty Trust earned a ‘BBB+’ unsecured credit rating from Fitch Ratings. Additionally, the company issued $450 million of 5.25% senior unsecured notes due January 2031, marking its first public bond offering since 2007.

Closing Price and Market Performance

As of July 15, 2025, the close price of First Industrial Realty Trust Inc. was $50.35. The stock has experienced a 52-week range, with a high of $57.99 on March 4, 2025, and a low of $40.31 on April 8, 2025.

Looking Ahead

First Industrial Realty Trust is set to provide further insights into its business performance on July 16, 2025, when it discusses the results of the quarter ended June 30, 2025. The company’s strong Q2 performance positions it well for continued growth in the logistics real estate sector.