First Industrial Realty Trust Adjusts 2024 FFO Per Share Outlook From $2.54-$2.64 To $2.53-$2.63, Est $2.61
Portfolio Pulse from Benzinga Newsdesk
First Industrial Realty Trust has revised its 2024 FFO per share outlook from $2.54-$2.64 to $2.53-$2.63, citing ongoing economic uncertainty and cautious leasing decisions by businesses. The adjustment reflects changes in leasing assumptions within its same store portfolio.
April 17, 2024 | 9:08 pm
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First Industrial Realty Trust lowers its 2024 FFO per share outlook to $2.53-$2.63, impacted by economic and interest rate uncertainties.
The revision in FFO per share outlook by First Industrial Realty Trust is a direct response to the broader economic uncertainty and a more cautious approach by businesses towards leasing. This adjustment, although slight, signals potential challenges in the real estate sector, particularly in industrial realty, which could lead to a negative short-term impact on the stock price. The company's acknowledgment of these challenges and the adjustment of its financial outlook may lead investors to reassess the stock's value, potentially resulting in a decrease in stock price.
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