FR on NYSE

First Industrial Realty Trust, Inc.

Logo: firstindustrial.com3

Industrial real estate company.1

Price unavailable

Last updated Oct 18, 2026.

Overview

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  • TickerFR on NYSE1
  • IndustryReal Estate Investment Trusts1
  • HeadquartersMD1
  • Websitewww.firstindustrial.com
  • Incorporated inMD4
  • Business address1 North Wacker Drive, Suite 4200, Chicago, Il 606064
  • Filer categoryLarge accelerated filer4

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

34.0%Net margin5
8.6%Revenue growth, 20255
9.3%Return on equity5

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs64¢$464.4M
  • Income tax2¢$15.3M
  • Profit34¢$247.4M

Out of $727.1M in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid50¢$231.2M
  • Kept or used elsewhere50¢$230.0M

Out of $461.3M of cash from operations.5

Financial statements

Revenue67895$727.1M in 2025+71% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $426.0M$426.0M20192020: $448.0M$448.0M2020+5%2021: $476.3M$476.3M2021+6%2022: $539.9M$539.9M2022+13%2023: $614.0M$614.0M2023+14%2024: $669.6M$669.6M2024+9%2025: $727.1M$727.1M2025+9%
Net income67895$247.4M in 2025+4% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $238.8M$238.8M20192020: $196.0M$196.0M2020−18%2021: $271.0M$271.0M2021+38%2022: $359.1M$359.1M2022+33%2023: $274.8M$274.8M2023−23%2024: $287.6M$287.6M2024+5%2025: $247.4M$247.4M2025−14%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Lease Revenue$719.2M$661.0M$602.3M
Joint Venture Fees$1.4M$2.5M$5.2M
Other Revenue$6.5M$6.1M$6.6M
Total Revenues$727.1M$669.6M$614.0M
Property Expenses$191.5M$182.8M$165.7M
General and Administrative$41.9M$40.9M$37.1M
Joint Venture Development Services Expense$629.0K$1.5M$3.7M
Depreciation and Other Amortization$185.3M$171.9M$163.0M
Total Expenses$419.4M$397.2M$369.4M
Gain on Sale of Real Estate$26.9M$112.0M$95.7M
Interest Expense-$84.9M-$83.0M-$74.3M
Amortization of Debt Issuance Costs-$5.0M-$3.6M-$3.6M
Total Other Income (Expense)-$63.0M$25.4M$17.7M
Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision$244.7M$297.8M$262.3M
Equity in Income of Joint Venture$34.7M$4.3M$32.2M
Income Tax Provision-$15.3M-$6.1M-$8.7M
Net Income$264.1M$296.0M$285.8M
Less: Net Income Attributable to the Noncontrolling Interests-$16.6M-$8.4M-$11.0M
Net Income Available to Common Stockholders / Unitholders and Participating Securities$247.4M$287.6M$274.8M
Net Income Allocable to Participating Securities-$146.0K-$211.0K-$232.0K
Net Income Available to Common Stockholders / Unitholders$247.3M$287.3M$274.6M
Net Income Available to Common Stockholders/Unitholders$1.87$2.17$2.08
Net Income Available to Common Stockholders/Unitholders$1.87$2.17$2.07
Weighted Average Shares/Units Outstanding - Basic132.4M shares132.4M shares132.3M shares
Weighted Average Shares / Units Outstanding - Diluted132.5M shares132.4M shares132.3M shares

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Leadership

Who has led First Industrial Realty Trust, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Michael W. Brennan2006–2008
  2. W. Edwin Tyler2008
  3. Bruce W. Duncan2009–2016
  4. Peter E. Baccile2017–now

President

  1. Bruce W. Duncan2009–2016
  2. Peter E. Baccile2016–now

Chief financial officer

  1. Michael J. Havala2006–2008
  2. Scott A. Musil2009–now
2010201520202025
Board members and other officers (29)

Timeline

  1. Feb 16, 2017New chief executive Peter E. Baccile becomes CEO13
  2. Jan 14, 2009New chief executive Bruce W. Duncan becomes CEO14
  3. Oct 27, 2008New chief executive W. Edwin Tyler becomes CEO15
  4. Jan 4, 2006New chief executive Michael W. Brennan becomes CEO16

Filings

134 filings to the SEC since October 2021: 81 insider forms, 20 large holders, 33 other. The latest 20:

  1. Jul 27, 20264 EDGAR
  2. Jun 2, 20264 EDGAR
  3. Jun 2, 20263 EDGAR
  4. May 1, 20264 EDGAR
  5. May 1, 20264 EDGAR
  6. May 1, 20264 EDGAR
  7. May 1, 20264 EDGAR
  8. May 1, 20264 EDGAR
  9. Apr 29, 2026SCHEDULE 13G EDGAR
  10. Apr 29, 2026SCHEDULE 13G EDGAR
  11. Apr 16, 2026PX14A6G EDGAR
  12. Apr 13, 2026DEFA14A EDGAR
  13. Apr 7, 2026PX14A6G EDGAR
  14. Mar 31, 2026DEFA14A EDGAR
  15. Mar 31, 2026ARS EDGAR
  16. Mar 30, 2026DEF 14A EDGAR
  17. Mar 26, 2026SCHEDULE 13G/A EDGAR
  18. Mar 20, 2026PX14A6G EDGAR
  19. Mar 20, 2026DEFA14A EDGAR
  20. Mar 17, 2026DEFA14A EDGAR

The 134 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 20 such filings since October 2021, the latest 10:

  1. Apr 29, 2026SCHEDULE 13G
  2. Apr 29, 2026SCHEDULE 13G
  3. Mar 26, 2026SCHEDULE 13G/A
  4. Nov 10, 2025SCHEDULE 13G
  5. Feb 5, 2025SCHEDULE 13G/A
  6. Feb 5, 2025SCHEDULE 13G
  7. Oct 17, 2024SC 13G/A
  8. Feb 13, 2024SC 13G/A
  9. Feb 13, 2024SC 13G/A
  10. Jan 30, 2024SC 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.16,661,052$1.0B0.0%−46,716
Vanguard Portfolio Management LLC12,719,991$779.9M0.0%+102,161
State Street Corp6,328,788$391.1M0.0%−34,474
Vanguard Capital Management LLC5,982,850$366.8M0.0%+53,568
Norges Bank5,470,630$335.4M0.0%New
Centersquare Investment Management LLC4,855,292$297.7M2.5%+547,725
Geode Capital Management, LLC2,851,824$174.9M0.0%+64,113
Jpmorgan Chase & Co2,581,701$163.9M0.0%+1,010,176
Prudential Financial Inc2,613,042$160.2M0.2%−174,896
Charles Schwab Investment Management Inc2,587,326$158.6M0.0%+22,368
Duff & Phelps Investment Management Co2,469,752$151.4M1.4%+274,144
Invesco Ltd.2,393,504$146.7M0.0%−1,049,954
Morgan Stanley2,186,787$134.1M0.0%+83,567
Dimensional Fund Advisors LP2,010,476$123.3M0.0%−15,008
Aqr Capital Management LLC1,752,307$107.4M0.0%−112,403
Nuveen, LLC1,683,994$103.2M0.0%−203,220
Cbre Investment Management Listed Real Assets LLC1,679,978$103.0M1.4%−548,598
Ameriprise Financial Inc1,658,792$101.1M0.0%+74,242
Quantinno Capital Management LP1,523,901$93.4M0.1%+306,180
Northern Trust Corp1,521,640$93.3M0.0%+209,779
Alyeska Investment Group, L.P.1,448,712$88.8M0.2%−574,695
Deutsche Bank Ag\1,300,439$79.7M0.0%−571,752
Rush Island Management, LP1,282,572$78.6M5.2%−471,772
Artemis Investment Management LLP1,237,486$75.9M0.7%+51,192
Nomura Asset Management International Inc.1,127,045$69.1M0.1%+31,515

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Aug 4, 2025Lisa C. McClainRepublican, HouseSale$1,001 - $15,000+0.2%Report
Jun 17, 2025Lisa C. McClainRepublican, HouseBuy$1,001 - $15,000−8.6%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

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