Industrial real estate company First Industrial Realty Trust, Inc. (NYSE: FR) announced financial results for the fourth quarter of 2022, reporting higher revenues and a decline in earnings.
Net income available to First Industrial Realty Trust’s shareholders was $81.9 million or $0.62 per share in the fourth quarter, compared to $114.3 million or $0.87 per share a year earlier. The bottom line benefitted from a 19% increase in revenues to $145 million.
Read management/analysts’ comments on quarterly reports
“Our team is focused on building upon our excellent development track record of value creation through lease-up within our current pipeline,” said Johannson Yap, First Industrial’s chief investment officer.