First Industrial Realty Trust Reports Tax Treatment of Common Stock Distributions

Rhea-AI Summary

First Industrial Realty Trust (NYSE: FR) reported the tax treatment of its 2025 common stock distributions, based on preliminary tax filing work and subject to correction. The company paid four quarterly cash distributions of $0.4450 per share (record dates 3/31, 6/30, 9/30/2025 and 12/31/2025; payable dates 4/21, 7/21, 10/20/2025 and 1/20/2026) for a total of $1.7800 per share in 2025. All distributions are reported as ordinary dividends $1.7800, including qualified dividends $0.2028 and Section 199A dividends $1.5772. Shareholders should consult tax advisors for individual tax treatment.

Positive

• Four consistent quarterly payments of $0.4450 per share
• Total 2025 distribution of $1.7800 per share
• $1.5772 of distributions classified as Section 199A dividends

Negative

• Qualified dividends amounted to only $0.2028 in 2025
• Tax treatment figures are preliminary and may be adjusted

News Market Reaction

-0.53%

1 alert

-0.53% News Effect

On the day this news was published, FR declined 0.53%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Quarterly cash distribution: $0.4450 per share Total 2025 distributions: $1.7800 per share 2025 qualified dividends: $0.2028 per share +3 more

6 metrics

Quarterly cash distribution $0.4450 per share Each 2025 common stock distribution

Total 2025 distributions $1.7800 per share Sum of 2025 common stock cash distributions

2025 qualified dividends $0.2028 per share Portion of 2025 ordinary dividends treated as qualified

2025 Section 199A dividends $1.5772 per share Portion of 2025 ordinary dividends qualifying as Section 199A

Portfolio size 70.4 million square feet Owned/under development as of Sep 30, 2025

Target MSAs 15 MSAs U.S. logistics markets as of Sep 30, 2025

Market Reality Check

Price: $59.79 Vol: Volume 1,091,893 vs 20-da...

normal vol

$59.79 Last Close

Volume Volume 1,091,893 vs 20-day average 873,700 (relative volume 1.25x). normal

Technical Price at 58.84, trading above 200-day MA of 52.01 and within -2.26% of 52-week high 60.2.

Peers on Argus

FR was up 0.99% while key industrial/REIT peers such as STAG (-0.66%), EGP (-0.4...

FR was up 0.99% while key industrial/REIT peers such as STAG (-0.66%), EGP (-0.40%), TRNO (-0.11%), CUBE (+0.08%) and NSA (-1.49%) were mixed to slightly negative, indicating stock-specific strength rather than a broad sector move.

Common Catalyst Multiple REIT peers (CUBE, STAG) also released 2025 tax allocation/tax treatment announcements on the same day, pointing to a routine tax-reporting cycle across the group.

Historical Context

5 past events · Latest: Jan 08 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 08	Earnings call notice	Neutral	+0.5%	Scheduled Q4 and full-year 2025 results call and release dates.
Dec 04	Activist commentary	Positive	+1.5%	Activist presentation arguing discount to NAV and portfolio quality.
Oct 29	Dividend declaration	Positive	+0.3%	Declared common dividend of $0.445 per share for Q4 2025.
Oct 15	Quarterly earnings	Positive	+1.4%	Q3 2025 results with higher FFO, raised NAREIT FFO guidance.
Sep 23	Earnings call notice	Neutral	-0.3%	Announcement of upcoming Q3 2025 earnings call and webcast.

Pattern Detected

Recent news items (earnings, dividends, and activist commentary) have generally seen modestly positive price reactions, with only one mild divergence on a conference-call scheduling release.

Recent Company History

Over the last several months, First Industrial Realty Trust has reported solid operational progress and steady capital markets activity. Q3 2025 results showed higher revenues and raised NAREIT FFO guidance, while the company maintained quarterly dividends at $0.445 per share. Activist commentary highlighted perceived upside to NAV, and multiple conference call announcements underscored consistent investor communication. Against this backdrop, today’s tax treatment disclosure for 2025 dividends fits into a pattern of routine, informational updates rather than a new fundamental catalyst.

Market Pulse Summary

This announcement outlines the income tax characterization of First Industrial’s 2025 common stock d...

Analysis

This announcement outlines the income tax characterization of First Industrial’s 2025 common stock distributions, including the split between ordinary, qualified, and Section 199A dividends on a total of $1.7800 per share. It is a procedural update tied to year-end tax reporting. In context of recent earnings strength, steady $0.4450 quarterly dividends, and an industrial portfolio of about 70.4 million square feet, investors may focus on how this tax mix affects their individual after-tax returns rather than underlying fundamentals.

Key Terms

qualified dividends, section 199a dividends

2 terms

qualified dividends financial

"Qualified Dividends (1) are a subset of, and are included in, Ordinary"

Dividends that meet tax rules allowing them to be taxed at the lower long-term capital gains rates instead of higher ordinary income rates. For investors, that means more of the payment stays in your pocket; it influences which dividend-paying stocks you buy and how long you hold them, similar to getting a discount for meeting a store’s membership conditions.

section 199a dividends regulatory

"Section 199A Dividends (2) are a subset of, and are included in, Ordinary"

Section 199A dividends are certain dividend payments from real estate investment trusts (REITs) and publicly traded partnerships that qualify for a special U.S. tax deduction allowing up to a 20% reduction of the income they create. For investors, that means these payouts are taxed differently than regular dividend income—they don’t get the lower capital gains rate but can lower taxable income through the deduction, similar to getting a partial tax rebate on that income.

AI-generated analysis. Not financial advice.

CHICAGO, Jan. 20, 2026 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today reported the tax treatment of its 2025 distributions.

This release is based on the preliminary results of work on the Company's tax filings and may be subject to correction or adjustment when the filings are completed. However, no material change in the information reported is expected. Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment. 

The table below summarizes the income tax treatment of the Company's 2025 common stock distributions.

Record  Date	Payable Date		Cash Distribution   Per Share	Ordinary Dividends	Qualified Dividends (1)	Section 199A Dividends (2)
3/31/2025	4/21/2025		$0.4450	$0.4450	$0.0507	$0.3943
6/30/2025	7/21/2025		$0.4450	$0.4450	$0.0507	$0.3943
9/30/2025	10/20/2025		$0.4450	$0.4450	$0.0507	$0.3943
12/31/2025	1/20/2026		$0.4450	$0.4450	$0.0507	$0.3943
Total			$1.7800	$1.7800	$0.2028	$1.5772
Percentage			100.0 %	100.0 %
(1)  Qualified Dividends (Box 1b) are a subset of, and are included in, Ordinary Dividends reported in Box 1a.
(2)  Section 199A Dividends (Box 5) are a subset of, and are included in, Ordinary Dividends reported in Box 1a.

About First Industrial Realty Trust, Inc.

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 70.4 million square feet of industrial space concentrated in 15 target MSAs as of September 30, 2025. For more information, please visit us at www.firstindustrial.com.

Forward-Looking Information

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"). We intend for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on certain assumptions and describe our future plans, strategies and expectations, and are generally identifiable by use of the words "believe," "expect," "plan," "intend," "anticipate," "estimate," "project," "seek," "target," "potential," "focus," "may," "will," "should" or similar words. Although we believe the expectations reflected in forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results will not materially differ. Factors that could have a materially adverse effect on our operations and future prospects include, but are not limited to: changes in national, international, regional and local economic conditions generally and real estate markets specifically, including impacts and uncertainties arising from trade disputes and tariffs on goods imported to or exported from the United States; changes in legislation/regulation (including laws governing the taxation of real estate investment trusts) and actions of regulatory authorities; our ability to qualify and maintain our status as a real estate investment trust; the availability, cost and attractiveness of financing (including both public and private capital), increases in or prolonged periods of elevated interest rates, and our ability to raise equity capital on attractive terms; the availability and attractiveness of terms of debt repurchases; our ability to retain our credit agency ratings; our ability to comply with applicable financial covenants; changes in the competitive environment in which we operate, including changes in supply, demand and valuation of industrial properties and land in our current and potential markets; our ability to identify, acquire, develop and/or manage properties on favorable terms; our ability to dispose of properties on favorable terms; our ability to successfully integrate acquired properties; potential liability relating to environmental matters; defaults on or non-renewal of leases by our tenants; decreases in rental rates or increases in vacancy rates; higher-than-expected real estate construction costs and delays in development or lease-up timelines; uncertainty and economic impacts of pandemics, epidemics or other public health emergencies or fear of such events; risks associated with cybersecurity breaches, cyberattacks, intrusions or other significant disruptions of our information technology networks or systems; potential natural disasters and other catastrophic events, including acts of war or terrorism; insufficient or unavailable insurance coverage; technological developments, particularly those affecting supply chains and logistics; litigation risks, including costs associated with prosecuting or defending claims and potential adverse outcomes; risks associated with our investments in joint ventures, including our lack of sole decision-making authority; and other risks and uncertainties described in Item A, "Risk Factors" and elsewhere in our annual report, on Form 10-K for the year ended December 31, 2024, as well as those risks and uncertainties discussed from time to time in our other Exchange Act reports and  public filings with the Securities and Exchange Commission (the "SEC"). We caution you not to place undue reliance on forward-looking statements, which reflect our outlook only and speak only as of the date of this press release or the dates indicated in the statements. We assume no obligation to update or supplement forward-looking statements except as may be required by law. For further information on these and other factors that could impact us and the statements contained herein, reference should be made to our filings with the SEC.

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SOURCE First Industrial Realty Trust, Inc.

FAQ

What was First Industrial (FR) total cash distribution per share for 2025?

First Industrial paid a $1.7800 total cash distribution per share in 2025.

How much of FR's 2025 distributions are Section 199A dividends?

$1.5772 per share of the 2025 distributions are Section 199A dividends.

What were the quarterly payment and record dates for FR 2025 distributions?

Record dates: 3/31, 6/30, 9/30, 12/31/2025; payable dates: 4/21, 7/21, 10/20, 1/20/2026.

How much of FR's 2025 distributions are qualified dividends?

Qualified dividends for 2025 totaled $0.2028 per share.

Are FR's 2025 tax figures final for shareholder tax reporting?

No, the figures are preliminary and may be corrected when tax filings are completed; consult a tax advisor.