First Industrial: 20% Dividend Raise And Rosy Outlook Make It A Buy

(7min)

Summary

  • First Industrial has strong growth, driven by high demand for its well-located industrial properties and robust leasing activity.
  • FR's solid fundamentals include an 8.6% YoY FFO per share growth, 96.2% occupancy, and impressive lease spreads.
  • Management projects continued strong growth in rental rates and FFO/share, and has an active development pipeline in supply constrained markets.
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Money and investment concept

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It’s been a while since I last covered First Industrial (NYSE:FR) back in October 2023, highlighting its appealing exposure to in-demand distribution centers and light industrial properties in supply scarce markets. That, combined with a reasonable valuation and solid

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This article was written by

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I am Gen Alpha. I have more than 14 years of investment experience, and an MBA in Finance. I focus on stocks that are more defensive in nature, with a medium- to long-term horizon.

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Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in FR over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I am not an investment advisor. This article is for informational purposes and does not constitute as financial advice. Readers are encouraged and expected to perform due diligence and draw their own conclusions prior to making any investment decisions.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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