HighGravityDataFirst Industrial Realty Trust — Feb 5, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000921825-25-000014
Showing in the filing
Bad debt expense assumption
“$1.0 million”
Period
FY2025
Measure
Company-defined measure
Source
Prose
All guidance in this release · 11
NAREIT FFO for FY2025
“$2.87 to $2.97 Per Share/Unit”
NAREIT Funds From Operations (Per share/unit) for FY2025
“$ 2.87 to $ 2.97”
Dividend for Q1 FY2025
“$0.445 Per Share”
Common dividend for FY2025
“$0.445 per share/unit”
FFO Growth at the Midpoint for FY2025
“Approximately 10%”
Growth in FFO per share for FY2025
“approximately 10%”
Average quarter-end in service occupancy for FY2025
“95.0% to 96.0%”
SS NOI growth on a cash basis before termina… for FY2025
“6.0% to 7.0%”
Bad debt expense assumption for FY2025
“$1.0 million”
Interest capitalized per share for FY2025
“$0.09 per share”
General and administrative expense (G&A) for FY2025
“$40.5 million to $41.5 million”
Exhibit 99.1 · the passage around this item
… earlier in the release
The following assumptions were used for guidance: • Average quarter-end in service occupancy of 95.0% to 96.0%. • SS NOI growth on a cash basis before termination fees of 6.0% to 7.0%. This range assumes 2025 bad debt expense of $1.0 million and excludes $4.5 million of income related to the 3Q24 accelerated recognition of a tenant improvement reimbursement. • Includes the incremental costs expected in 2025 related to the Company’s completed and under construction developments as of December 31, 2024. In total, the Company expects to capitalize $0.09 per share of interest in 2025. • General and administrative expense ("G&A") of $40.5 million to $41.5 million. • Guidance does not include the impact of any future investments, property sales, debt repurchases prior to maturity, debt issuances, or equity issuances post the date of this press release. Conference Call First Industrial will host its fourth quarter and full year 2024 conference call on Thursday, February 6, 2025 at 10:00 a.m. CST (11:00 a.m. EST). The conference call may be accessed by dialing (877) 870-4263, passcode “First Industrial”. The conference call will also be webcast live on the Investors page of the Company’s website at www.firstindustrial.com. The replay will also be available on the website. The Company’s fourth quarter and full year 2024 supplemental information can be viewed at www.firstindustrial.com under the “Investors” tab. < more > FFO De
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.