First Industrial Realty Trust: A Logistics REIT Poised for Growth at Citi's 2025 Global Property CEO Conference

First Industrial Realty Trust (FR) is set to present at Citi's 2025 Global Property CEO Conference, offering investors an opportunity to learn more about the company's growth prospects and investment thesis. As a leading owner, operator, developer, and acquirer of logistics properties in the United States, FR is well-positioned to capitalize on the strong demand for logistics real estate driven by e-commerce growth and supply chain dynamics.



FR's growth is driven by several primary factors that align with broader trends in the logistics real estate sector:

1. Strong demand for logistics properties: FR's growth is fueled by the high demand for its well-located industrial properties and robust leasing activity. This demand is driven by the increasing need for logistics and distribution facilities to support supply chains and e-commerce growth.
2. Rental rate increases: FR has achieved significant cash rental rate increases, with a 50.8% annual increase in 2024 and a 58.3% increase in 2023. This is due to strong customer demand and the company's ability to capture embedded rental rate growth and contractual escalations.
3. Development leasing: FR's development leasing efforts have been broad-based, representing ten markets in 2024 and signing 4.7 million square feet of development leases, the second highest annual volume since 2012.
4. Portfolio operating metrics: FR has maintained strong portfolio operating metrics, such as high service occupancy rates (96.2% in Q4 2024) and cash same store NOI growth (9.3% in Q4 2024, 8.1% for full year 2024).

FR's dividend policy and yield compare favorably to other REITs in the logistics sector. With a dividend growth rate of 8.6% YoY and a payout ratio of around 75%, FR offers a competitive income stream while maintaining a balance between growth and income. In the long term, FR's dividend growth is expected to have a positive impact on shareholder returns, with the potential for significant total returns through a combination of capital appreciation and dividend growth.

As FR presents at Citi's 2025 Global Property CEO Conference, investors will have the opportunity to learn more about the company's growth prospects and investment thesis. With a strong operating performance, rental rate increases, and a competitive dividend policy, FR is well-positioned to capitalize on the growing demand for logistics real estate and deliver value to shareholders in the long term.