J P M O R G A N North America Equity Research 22 July 2026 First Industrial Realty Trust 2Q comes in ahead; Increases guidance. First Industrial reported 2Q FFO/share of $0.82, which was $0.03 ahead of our estimate and $0.02 ahead of Bloomberg consensus. Relative to our model, NOI came in close to $0.04 higher than our forecast but was offset slightly by a variety of smaller items, netting to the ~$0.03 beat. In terms of the 2026 outlook, management raised FFO guidance (ex-proxy costs) to $3.12–$3.20 from $ ...