This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

First Industrial Realty Trust's CEO Hosts Analyst Day - Conference Call Transcript

Stocks in this article: FR

But again, we think it’s great having a public vehicle, we think it’s great in terms of the access we have to the capital of those debt and equity markets and that’s been a big plus over the last few years in terms of having been able to spend the money in terms of capital improvements versus our private peers with more capital constrains. We’ve improved our capital structure again. A couple of years ago, we made a goal that we want to get our debt to EBITDA down to the 6.5 to 7.5 times. And we’re now at 7.2 times and again, we want to continue to delever.

We have access to both the secured and unsecured market. But our focus has been on the secured markets and Scott will take you through that because the pricing is so much better for us. We targeted capital availability of $100 million to $200 million because we want to make sure we always have capacity to take care of upcoming maturities, as well as grow our business and we are always mindful of dilution.

This slide shows geographically where our portfolio is. 15% of our portfolio is in the West, 22% in the Southwest, 13% in the Southeast, 33% in the Midwest and 17% in the Northeast. 84% of our properties are in bulk or regional distribution or light industrial. We are primarily in In-fill location. We have a portfolio of 66.9 million square feet. 745 property; the average size is 90,000 square feet.

We have a diverse tenant base, our largest tenant is 2.8% of net rent and that’s why we are going to talk about that, Bob, will take you though the data. Our top 20 tenants represents 20.9% of net rent and our average tenant size is 30,000 square feet.

5 of 8

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,689.82 +228.50 1.39%
S&P 500 1,950.30 +23.19 1.20%
NASDAQ 4,442.5580 +59.7110 1.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs