Here are the 10-Q quarterly reports from First Industrial Realty Trust, Inc. (FR) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow FR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full FR filings page.
First Industrial Realty Trust (FR) reported third-quarter 2026 revenue of $197.115 million, versus $181.430 million a year earlier; net income available to common stockholders was $58.517 million versus $65.269 million, and earnings per share were $0.44 versus $0.49. For the nine months ended September 30, 2026, revenue was $586.882 million versus $538.667 million and common-stockholder net income was $278.613 million versus $168.486 million, including a $125.623 million real-estate sale gain compared with $17.503 million.
At September 30, 2026, the company owned 420 industrial properties totaling approximately 72.0 million square feet, with 94.1% in-service occupancy. New and renewal commenced leases had a 40.5% average increase in cash rental rates, and same-store cash net operating income grew 7.0%. Nine-month activity included industrial-property acquisitions for $145.5 million and 90 acres of land for $51.9 million, plus sales generating $160.5 million in gross proceeds. The company declared quarterly dividends of $0.50 per share, 12.4% above the 2025 rate, and authorized repurchases of up to $250 million; it made no repurchases during the period.
First Industrial Realty Trust, Inc. delivered a much stronger quarter for the period ended March 31, 2026. Total revenues rose 10.0% to $194.8 million, driven by higher rents at same store properties, contributions from recent acquisitions and (re)developments, and solid tenant retention.
Net income jumped to $147.9 million from $52.9 million, and diluted EPS increased to $1.08 from $0.36, largely due to a one-time $109.0 million gain from reclassifying a 100-acre Phoenix ground lease to a sales-type lease after the tenant exercised a purchase option.
Underlying operations remained healthy: same store revenues increased 5.8%, average same store occupancy was 94.5%, quarter-end occupancy was 94.3%, and new and renewal leases achieved a 31.7% average increase in cash rental rates. The company owned 420 industrial properties totaling about 70.9 million square feet of GLA and had four developments underway totaling 0.7 million square feet with an estimated investment of $124.2 million.
On the balance sheet, total debt (including mortgage, senior notes, term loans and credit facility) was $2.58 billion. Liquidity included $37.1 million of cash and $723.9 million of available capacity on the $850.0 million unsecured credit facility. The quarterly dividend was raised 12.4% to $0.50 per share or Unit, and a $250 million share repurchase program was authorized. General and administrative expenses rose, partly from $5.6 million of costs tied to a threatened contested proxy campaign that was later withdrawn.
First Industrial Realty Trust (FR) reported Q3 2025 results. Total revenues were $181.4 million, up from $167.6 million a year ago, while GAAP EPS was $0.49 versus $0.75, reflecting lower gains on property sales year over year.
Year to date, operating cash flow rose to $339.2 million. The company issued $450.0 million of senior unsecured notes due January 15, 2031 at a 5.25% coupon (effective rate 5.41%) and amended its revolving credit facility to $850.0 million capacity maturing March 16, 2029. Net senior unsecured notes outstanding increased to $1.44 billion, while borrowings on the credit facility declined to $33.0 million.
FR owned 417 industrial properties across approximately 69.5 million square feet as of September 30, 2025. During the nine months, it acquired two buildings and two land parcels (allocated purchase price $146.3 million) and sold four properties and one land parcel for $26.9 million, recognizing a $17.5 million gain. The ATM program was resumed on August 21, 2025 for up to 16,000,000 shares; no shares were sold during the period. Quarterly dividends/distributions were $0.445 per share/unit.