First Industrial Profit Rises; Tightens FY Guidance - Quick Facts

(RTTNews) - First Industrial Realty Trust Inc. (FR) Wednesday reported third-quarter funds from operations to common stockholders of $36.8 million or $0.32 per share compared with $29.5 million or $0.26 per share last year.

Excluding items, adjusted FFO for the quarter was $25.6 million compared with $20.7 million a year ago.

Net earnings for the quarter were $21.3 million or $0.19 per share compared with $5 million or $0.05 per share last year.

Revenues for the quarter were $87 million compared with $79.7 million in the prior year.

Analysts polled by Thomson Reuters estimated FFO of $0.30 per share on revenues of $86.8 million for the quarter.

Looking ahead to the full year, the company expects FFO of $1.14 to $1.18 per share, from prior guidance of $1.11 to $1.21 per share. Analysts expect FFO of $1.14 per share.