First Industrial Realty Trust, Inc. FR
First Industrial Realty Trust, Inc. (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains. In total, we own and have under development approximately 71.6 million square feet of industrial space concentrated in 15 target MSAs as of March 31, 2026.
Snapshot
Reported FFO / AFFO / leverage are from the Q1 2026 earnings release (filed 2026-04-22) — 8-K, EX-99.1.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $727.08M | $247.44M | $185.32M | $568.83M | $461.34M |
| 2024 | $669.64M | $287.34M | $176.29M | $557.03M | $350.42M |
| 2023 | $614.03M | $274.82M | $164.51M | $501.17M | $302.31M |
| 2022 | $539.93M | $359.13M | $152.32M | $491.37M | $410.90M |
| 2021 | $476.29M | $271.00M | $139.06M | $465.37M | $267.03M |
| 2020 | $447.79M | $201.58M | $137.76M | $303.87M | $241.08M |
Dividends
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-06-30 | 2026-06-30 | 2026-07-20 | 2026-04-30 | $0.50 | Quarterly |
| 2026-03-31 | 2026-03-31 | 2026-04-20 | 2026-02-04 | $0.50 | Quarterly |
| 2025-12-31 | 2025-12-31 | 2026-01-20 | 2025-10-29 | $0.45 | Quarterly |
| 2025-09-30 | 2025-09-30 | 2025-10-20 | 2025-08-12 | $0.45 | Quarterly |
| 2025-06-30 | 2025-06-30 | 2025-07-21 | 2025-04-30 | $0.45 | Quarterly |
| 2025-03-31 | 2025-03-31 | 2025-04-21 | 2025-02-05 | $0.45 | Quarterly |
| 2024-12-31 | 2024-12-31 | 2025-01-21 | 2024-10-30 | $0.37 | Quarterly |
| 2024-09-30 | 2024-09-30 | 2024-10-21 | 2024-08-01 | $0.37 | Quarterly |
| 2024-06-28 | 2024-06-28 | 2024-07-15 | 2024-04-30 | $0.37 | Quarterly |
| 2024-03-27 | 2024-03-28 | 2024-04-15 | 2024-02-07 | $0.37 | Quarterly |
| 2023-12-28 | 2023-12-29 | 2024-01-16 | 2023-11-01 | $0.32 | Quarterly |
| 2023-09-28 | 2023-09-29 | 2023-10-16 | 2023-08-03 | $0.32 | Quarterly |
| 2023-06-29 | 2023-06-30 | 2023-07-17 | 2023-05-03 | $0.32 | Quarterly |
| 2023-03-30 | 2023-03-31 | 2023-04-17 | 2023-02-08 | $0.32 | Quarterly |
| 2022-12-29 | 2022-12-31 | 2023-01-17 | 2022-11-01 | $0.29 | Quarterly |
| 2022-09-29 | 2022-09-30 | 2022-10-17 | 2022-08-05 | $0.29 | Quarterly |
| 2022-06-29 | 2022-06-30 | 2022-07-18 | 2022-05-04 | $0.29 | Quarterly |
| 2022-03-30 | 2022-03-31 | 2022-04-18 | 2022-02-09 | $0.29 | Quarterly |
| 2021-12-30 | 2021-12-31 | 2022-01-18 | 2021-11-02 | $0.27 | Quarterly |
| 2021-09-29 | 2021-09-30 | 2021-10-18 | 2021-08-06 | $0.27 | Quarterly |
| 2021-06-29 | 2021-06-30 | 2021-07-19 | 2021-05-05 | $0.27 | Quarterly |
| 2021-03-30 | 2021-03-31 | 2021-04-19 | 2021-02-10 | $0.27 | Quarterly |
| 2020-12-30 | 2020-12-31 | 2021-01-19 | 2020-11-03 | $0.25 | Quarterly |
| 2020-09-29 | 2020-09-30 | 2020-10-19 | 2020-08-04 | $0.25 | Quarterly |
Coverage (payout of operating cash flow): 57.44%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.