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First Industrial Realty Trust Inc (FR) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

First Industrial Realty Trust Inc

CIK: 921825 Ticker: FR

Exhibit 99.1

 

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First Industrial Realty Trust, Inc.

311 South Wacker Drive

Suite 3900

Chicago, IL 60606

312/344-4300

FAX: 312/922-9851

 
 

MEDIA RELEASE

 

FIRST INDUSTRIAL REALTY TRUST REPORTS

FOURTH QUARTER AND FULL YEAR 2014 RESULTS

 

    Occupancy of 94.3%, Up 40 Basis Points from 3Q14, 140 Basis Points from 4Q13

 

    Same Store NOI Grew 6.2% in 4Q14

 

    Increased First Quarter 2015 Dividend 24.4% to $0.1275 Per Share

 

    Acquired Five Buildings Totaling 554,000 Square Feet Plus One Land Parcel for $42.8 Million

 

    Completed $43.6 Million of Asset Sales in 4Q14, $102.6 Million for 2014

 

    Placed In Service Five 100% Leased Developments Comprised of 1.6 Million SF with Total Investment of $115.2 Million in 2014

 

    Started New Developments in Dallas and Eastern Pennsylvania in 4Q14 Totaling 738,000 SF; Estimated Total Investment of $53.3 Million

CHICAGO, February 19, 2015 – First Industrial Realty Trust, Inc. (NYSE: FR), a leading owner, operator and developer of industrial real estate, today announced results for the fourth quarter and full year 2014. Diluted net income available to common stockholders per share (EPS) was $0.17 in the fourth quarter, compared to $0.18 a year ago. Full year 2014 diluted net income available to common stockholders was $0.42 per share, compared to $0.24 per share in 2013.

First Industrial’s fourth quarter FFO was $0.32 per share/unit on a diluted basis, compared to $0.27 per share/unit a year ago.

Full year 2014 FFO was $1.16 per share/unit on a diluted basis versus $0.98 per share/unit in 2013. FFO results for the full year 2014 include a one-time restoration fee of $0.02 per share, $0.01 per share of acquisition costs, and a $0.02 per share combined loss on retirement of debt and loss related to the redemption of preferred stock.

“The First Industrial team enjoyed another good year, driving our portfolio occupancy to 94.3% at year-end which contributed to strong same store NOI growth,” said Bruce W. Duncan, First Industrial’s president and CEO. “We also continued to make progress on our investment and divestment programs, using our platform to enhance our portfolio to deliver long-term cash flow growth to shareholders.”

 

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The following information was filed by First Industrial Realty Trust Inc (FR) on Friday, February 20, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Schedule Iii - Real Estate And Accumulated Depreciation (detail)
Schedule Iii - Real Estate And Accumulated Depreciation (parenthetical) (detail)
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of Changes In Stockholders Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (amounts Reclassified From Aoci) (details)
Accumulated Other Comprehensive Loss (changes In Aoci) (details)
Accumulated Other Comprehensive Loss (tables)
Accumulated Other Comprehensive Loss - Additional Information (details)
Basis Of Presentation
Basis Of Presentation - Additional Information (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Commitments And Contingencies - Future Minimum Rental Payments Under Non-cancelable Ground And Operating Leases (detail)
Commitments And Contingencies - Future Minimum Rental Payments Under Non-cancelable Ground And Operating Leases (parenthetical) (detail)
Derivatives
Derivatives (tables)
Derivatives - Additional Information (detail)
Derivatives - Fair Value Measurements On Recurring Basis (detail)
Earnings Per Share (eps)
Earnings Per Share (eps) (tables)
Earnings Per Share (eps) - Additional Information (detail)
Earnings Per Share (eps) - Computation Of Basic And Diluted Eps (detail)
Earnings Per Share (eps) - Non-participating Securities (detail)
Future Rental Revenues
Future Rental Revenues (tables)
Future Rental Revenues - Minimum Lease Payments Receivable, Excluding Tenant Reimbursements Of Expenses, Under Non-cancelable Operating Leases (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Income Taxes - Components Of Income Tax Benefit (provision) (detail)
Income Taxes - Deferred Tax Assets (liabilities) (detail)
Income Taxes - Federal Income Tax Treatment Of Share Distributions (detail)
Income Taxes - Federal Income Tax Treatment Of Share Distributions (parenthetical) (detail)
Income Taxes - Income Tax Benefit (provision) Pertaining To Income From Continuing Operations And Gain On Sale Of Real Estate (detail)
Indebtedness
Indebtedness (tables)
Indebtedness - Additional Information (detail)
Indebtedness - Information Regarding Indebtedness (detail)
Indebtedness - Schedule Of Maturities Of Long-term Debt (detail)
Indebtedness - Senior Unsecured Notes Repurchases (detail)
Indebtedness - Summary Of Indebtedness At Estimated Fair Value (detail)
Investment In Real Estate
Investment In Real Estate (tables)
Investment In Real Estate - Additional Information (detail)
Investment In Real Estate - Net Non-cash Impairment Charges (detail)
Investment In Real Estate - Summary Of Acquisition Purchase Price Allocation (detail)
Investment In Real Estate - Summary Of Intangible Assets (liabilities) Subject To Amortization In Period Of Acquisition (detail)
Investment In Real Estate - Summary Regarding Industrial Properties Included In Discontinued Operations (detail)
Organization And Formation Of Company
Organization And Formation Of Company - Additional Information (detail)
Quarterly Financial Information (unaudited)
Quarterly Financial Information (unaudited) (tables)
Quarterly Financial Information - Net Income (loss) Available To Common Stockholders And Basic And Diluted Eps (detail)
Real Estate And Accumulated Depreciation
Schedule Iii: Real Estate And Accumulated Depreciation Real Estate And Accumulated Depreciation - Additional Information (details)
Stock Based Compensation
Stock Based Compensation (tables)
Stock Based Compensation - Additional Information (detail)
Stock Based Compensation - Summary Of Restricted Stock Award And Restricted Stock Unit Award Transactions (detail)
Stock Based Compensation - Valuation Assumptions (details)
Stockholders' Equity
Stockholders' Equity (tables)
Stockholders' Equity - Additional Information (detail)
Stockholders' Equity - Common Stock Outstanding, Including Unvested Restricted Shares Of Common Stock (detail)
Stockholders' Equity - Summary Of Dividends/distributions (detail)
Stockholders' Equity - Summary Of Preferred Shares Outstanding (detail)
Subsequent Events
Subsequent Events - Additional Information (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Additional Information (detail)
Summary Of Significant Accounting Policies - Deferred Leasing Intangibles Included In Total Assets And Liabilities (detail)
Summary Of Significant Accounting Policies - Deferred Leasing Intangibles Included In Total Assets And Liabilities (parenthetical) (details)
Summary Of Significant Accounting Policies - Net Amortization Expense Related To Deferred Leasing Intangibles (detail)
Summary Of Significant Accounting Policies - Useful Lives Of Depreciable Assets (detail)
Supplemental Information To Statements Of Cash Flows
Supplemental Information To Statements Of Cash Flows (tables)
Supplemental Information To Statements Of Cash Flows - Cash Flow Information (detail)
Ticker: FR
CIK: 921825
Form Type: 10-K Annual Report
Accession Number: 0000921825-15-000011
Submitted to the SEC: Wed Feb 25 2015 5:35:55 PM EST
Accepted by the SEC: Thu Feb 26 2015
Period: Wednesday, December 31, 2014
Industry: Real Estate Investment Trusts

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