secwatch.observer — SEC 8-K summary
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Issuer:     FIRST INDUSTRIAL LP (—)
CIK:        0001033128
Form:       8-K
Filed at:   2024-04-17T23:59:59+00:00
Accession:  0000921825-24-000040
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Q1 EPS $0.52, FFO $0.60; cash same-store NOI +10.0%; dividend raised to $0.37; guidance trimmed
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- Q1 diluted EPS $0.52 (vs $0.42 YoY); FFO $0.60/share (vs $0.59 adjusted).
- Cash same-store NOI grew 10.0%; cash rental rates on new/renewal leases +44.8%.
- Signed 1.6M sq ft development leases; sold 9 buildings for $49M.
- Quarterly dividend raised 15.6% to $0.37/share from $0.32.
- FY2024 guidance lowered: NAREIT FFO $2.53-$2.63; occupancy 95.75%-96.75% midpoint 25bps lower.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1033128/000092182524000040/0000921825-24-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/921825/000092182524000040/fr-20240417.htm
  HTML page:      https://secwatch.observer/filing/0000921825-24-000040

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer