First Industrial Realty Reports Mixed Q1 Results, Raises Dividend

First Industrial Realty Trust reported mixed first-quarter 2025 results, with funds from operations (FFO) of $0.68 per share slightly missing analyst estimates, though revenue of $177.07 million surpassed expectations and grew 9% year-over-year. The company saw robust leasing activity, with rental rates on new and renewed leases rising significantly, and same store net operating income increasing by 10.1%. Management raised the quarterly dividend by over 20% and announced new development projects, reflecting confidence in future growth. Looking ahead, First Industrial projects 2025 FFO per share between $2.87 and $2.97, and maintains an 'Outperform' consensus rating from analysts, with price targets suggesting a potential upside of over 20%. GuruFocus estimates indicate a fair value for the stock well above current prices, pointing to further upside potential for investors. The company’s strong operating results, ongoing strategic investments, and positive analyst outlooks reinforce its solid position in the industrial real estate sector.