First Industrial Realty Trust Inc. (FR, Financial) filed Quarterly Report for the period ended 2009-03-31.
FIRST INDUSTRIAL REALTY TRUST is a self-administered and fully integrated industrial real estate company which owns mamages acquires and develops industrial real estste. First Industrial Realty Trust Inc. has a market cap of $262.1 million; its shares were traded at around $5.88 with a P/E ratio of 2.2 and P/S ratio of 0.5.
Revenues from same store properties decreased $3.8 million due primarily to a decrease in lease termination fees of $1.7 million and a decrease in occupancy. Revenues from acquired properties increased $6.3 million due to the 26 industrial properties acquired subsequent to December 31, 2007 totaling approximately 3.1 million square feet of GLA, as well as acquisitions of land parcels in September and October 2008 for which we receive ground rents. Revenues from sold properties decreased $15.4 million due to the 117 industrial properties sold subsequent to December 31, 2007 totaling approximately 9.5 million square feet of GLA. Revenues from (re)developments and land increased $3.8 million primarily due to an increase in occupancy. Other revenues decreased $1.6 million due primarily to a decrease in fees earned from our Joint Ventures. Construction revenues decreased $4.5 million primarily due to the substantial completion of certain development projects for which we were acting in the capacity of development manager, substantially offset by two development projects that commenced in April 2008 and August 2008 for which we are acting in the capacity of development manager.
Property expenses include real estate taxes, repairs and maintenance, property management, utilities, insurance and other property related expenses. Property expenses from same store properties remained relatively unchanged. Property expenses from acquired properties increased $1.3 million due to properties acquired subsequent to December 31, 2007. Property expenses from sold properties decreased $5.3 million due to properties sold subsequent to
Read the The complete ReportFR is in the portfolios of Tom Gayner of Markel Gayner Asset Management Corp.
FIRST INDUSTRIAL REALTY TRUST is a self-administered and fully integrated industrial real estate company which owns mamages acquires and develops industrial real estste. First Industrial Realty Trust Inc. has a market cap of $262.1 million; its shares were traded at around $5.88 with a P/E ratio of 2.2 and P/S ratio of 0.5.
Highlight of Business Operations:
Our net (loss) income attributable to First Industrial Realty Trust, Inc.s common stockholders and participating securities was $(15.4) million and $48.4 million for the three months ended March 31, 2009 and March 31, 2008, respectively. Basic and diluted net (loss) income attributable to First Industrial Realty Trust, Inc.s common stockholders were $(0.35) per share for the three months ended March 31, 2009, and $1.10 per share for the three months ended March 31, 2008.Revenues from same store properties decreased $3.8 million due primarily to a decrease in lease termination fees of $1.7 million and a decrease in occupancy. Revenues from acquired properties increased $6.3 million due to the 26 industrial properties acquired subsequent to December 31, 2007 totaling approximately 3.1 million square feet of GLA, as well as acquisitions of land parcels in September and October 2008 for which we receive ground rents. Revenues from sold properties decreased $15.4 million due to the 117 industrial properties sold subsequent to December 31, 2007 totaling approximately 9.5 million square feet of GLA. Revenues from (re)developments and land increased $3.8 million primarily due to an increase in occupancy. Other revenues decreased $1.6 million due primarily to a decrease in fees earned from our Joint Ventures. Construction revenues decreased $4.5 million primarily due to the substantial completion of certain development projects for which we were acting in the capacity of development manager, substantially offset by two development projects that commenced in April 2008 and August 2008 for which we are acting in the capacity of development manager.
Property expenses include real estate taxes, repairs and maintenance, property management, utilities, insurance and other property related expenses. Property expenses from same store properties remained relatively unchanged. Property expenses from acquired properties increased $1.3 million due to properties acquired subsequent to December 31, 2007. Property expenses from sold properties decreased $5.3 million due to properties sold subsequent to
Read the The complete ReportFR is in the portfolios of Tom Gayner of Markel Gayner Asset Management Corp.
