First Industrial Realty Trust — Oct 16, 2024 release

cquired Fully Leased Four-Building Portfolio in Houston for $29 Million • Sold Ten Buildings for $101 Million in the Third Quarter and Fourth Quarter To-Date • 2024 NAREIT FFO Guidance Increased $0.02 at the Midpoint to $2.61 to $2.65 Per Share/Unit CHICAGO, October 16, 2024 – First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced results for the third quarter of 2024. First Industrial's diluted net income available to common stockholders per share (EPS) was $0.75 in the third quarter, compared to $0.57 a year ago and third quarter funds from operations (FFO) was $0.68 per share/unit on a diluted basis, compared to $0.62 per share/unit a year ago. Third quarter 2024 FFO per share/unit and EPS includes a $0.01 reduction related to the net impact of the write-off of a deferred rent receivable and the accelerated recognition of a tenant improvement reimbursement all related to a tenant that is ceasing operations in Central Pennsylvania. “The First Industrial team delivered another great quarter with solid operating metrics along with some important leases and capital deployment actions,” said Peter E. Baccile, president and chief executive officer of First Industrial. "By capturing embedded rental rate growth and contractual escalations along with our continuing development leasing, we are positioned to deliver strong FFO growth.” Portfol