CHICAGO, Nov. 20, 2012 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading owner and operator of industrial real estate and provider of supply chain solutions, today announced that it will redeem 2 million of its 6 million outstanding depositary shares relating to its 7.25% Series J Cumulative Redeemable Preferred Stock. The redemption price will be $25 per depositary share plus accrued and unpaid dividends to the date of redemption. For registered holders, the depositary shares will be redeemed on a pro rata basis. Holders who hold the depositary shares through the Depository Trust Company (DTC) or a broker will be redeemed in accordance with DTC's or their broker's procedures, which may not be on a pro rata basis. Dividends on the depositary shares to be redeemed will cease to accumulate after December 21, 2012.
The depositary shares should be presented and surrendered by mail at the office of the Paying Agent, Computershare Trust Company, Attn: Corporate Actions, 250 Royall Street, Canton, MA 02021. The settlement of this redemption is expected to occur on December 21, 2012. Questions relating to the notice of redemption and related materials should be directed to Computershare via telephone at 1-800-546-5141.
Due to the partial redemption of the 7.25% Series J Cumulative Redeemable Preferred Stock, we expect to write off the pro rata offering costs associated with its original issuance which will be reflected as a deduction of approximately $0.02 per share from net income (loss) available to common stockholders and participating securities in the fourth quarter of 2012. It is anticipated that this charge will also be reflected in Funds from Operations.About First Industrial Realty Trust, Inc.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV