First Industrial lifts 2026 NAREIT FFO guidance and keeps 95.5% year‑end occupancy target
First Industrial Realty Trust reported third‑quarter 2026 results and raised its 2026 NAREIT FFO guidance to $3.11‑$3.15 per share, while maintaining a year‑end in‑service occupancy midpoint of 95.5%. The company also forecast fourth‑quarter same‑store net operating income growth of 4%‑6%, implying full‑year same‑store growth of 6.25%‑6.75%. Adjusted earnings per share for the quarter were $0.44, below consensus, and revenue rose 8.6% to $197.1 million.
Why it matters
The higher guidance, announced by management, suggests stronger cash flow generation than previously expected, which could support a higher valuation for the REIT. The unchanged occupancy target signals confidence that the portfolio will remain fully leased, limiting upside risk to the guidance.
Key facts
- 1Adjusted 2026 NAREIT FFO guidance was increased to $3.11‑$3.15 per share. finance.yahoo.com
- 2Excluding $0.04 per share of advisory costs, the company expects FFO of $3.15‑$3.19 per share. finance.yahoo.com
- 3Year‑end in‑service occupancy midpoint is targeted at 95.5%, with a range of 94.5%‑96.5%. finance.yahoo.com
- 4Fourth‑quarter cash same‑store NOI growth before termination fees is projected at 4%‑6%, implying full‑year same‑store growth of 6.25%‑6.75%. finance.yahoo.com
- 5Adjusted earnings per share for Q3 2026 were $0.44, missing the $0.47 consensus. investing.com
- 6Revenue for Q3 2026 increased 8.6% year‑over‑year to $197.1 million. investing.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.