FR · First Industrial Realty Trust Q2 FY2026 earnings call record财报电话会记录

“On the strength of that leasing, we increased our FFO guidance midpoint by $0.02 per share.”

“The national construction pipeline ticked up modestly to 252 million square feet and is still well pre-leased at 38%.”

“On the acquisition front, our regional team was successful in sourcing a recently completed development in the Great Southwest sub-market of Dallas.”

“Of these, 1.1 million square feet were new, 1 million square feet were renewals, and 500,000 sq ft were for developments and acquisitions with lease up.”

“As Peter noted, we increased our FFO midpoint guidance by $0.02 per share and narrowed our guidance range for 2026 Nareit FFO to $3.08-$3.16 per share.”

“Cash same store NOI growth before termination fees of 5.25%-6.25%, an increase of 25 basis points at the midpoint.”

“For the full year 2026, we expect to capitalize about $0.08 per share of interest.”

“700,000 sq ft-200,000 sq ft, that activity is up 127%.”

“We focus solely on profitability, and with respect to that, as we evaluate our land holdings and future land acquisitions, we're trying to deliver into the deepest part of the demand or unmet demand in a particular market.”

“Half of that will be covered with excess cash flow after CapEx and dividends.”

“The markets that we're in, Southern California obviously grew the most and came down the most, but the CAGR there is still kind of 11%, 12% over the last five or six years.”

“If you were to aggregate the amount of demand that would meet that 800,000 sq ft-900,000 sq ft of remaining spec leasing that I think you need to do, if my math is okay, for the rest of the year, what's the total demand for that kind of pool of assets that kind of gives you the continued confidence to get there?”