First Industrial Realty Trust Reports Increased Rents and Higher FFO Guidance for Q2

First Industrial Realty Trust, an owner, operator, and developer of logistics real estate, reported its second quarter 2026 financial results, highlighting increased rental income and a strengthened financial forecast.

The company's cash same-store net operating income (SS NOI) grew by 6.7%. Notably, cash rental rates on new and renewal leases increased by 39%. This figure also reflects a 39% rise on leases signed to date commencing in 2026.

Funds From Operations (FFO) per diluted share reached $0.82, up from $0.76 in the same period last year. The company also raised its 2026 FFO guidance by $0.02 at the midpoint. Key leasing successes, including the full lease-up of a 708,000-square-foot facility in Central Pennsylvania, contributed to these results.

First Industrial Realty Trust continued its development activities, commencing construction on a 613,000-square-foot facility in Philadelphia with an estimated investment of $77 million. The company also made strategic acquisitions of properties and land in Dallas and Baltimore, alongside property sales in Detroit and land sales in Phoenix.