First Industrial Realty Trust, Inc. (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types. In total, we own and have under development approximately 64.1 million square feet of industrial space as of September 30, 2020.
IPO Year: 1994
Exchange: NYSE
Website: firstindustrial.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/5/2026 | $67.00 | Hold → Buy | Deutsche Bank |
| 10/1/2025 | $55.00 | Neutral | Cantor Fitzgerald |
| 2/21/2025 | $52.00 → $59.00 | Sell → Neutral | Goldman |
| 1/14/2025 | $52.00 | Hold | Deutsche Bank |
| 12/17/2024 | Underweight → Sector Weight | KeyBanc Capital Markets | |
| 8/13/2024 | $64.00 | Peer Perform → Outperform | Wolfe Research |
| 6/4/2024 | $57.00 | Outperform | Exane BNP Paribas |
| 4/25/2024 | $59.00 → $49.00 | Outperform → Neutral | Wedbush |
| 3/27/2024 | $63.00 → $53.00 | Overweight → Equal Weight | Barclays |
| 12/7/2023 | Equal Weight | Wells Fargo |
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CHICAGO, June 1, 2026 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of logistics real estate, will present at Nareit's REITWeek 2026 Investor Conference on Tuesday, June 2, 2026 at 2:30 PM EDT (1:30 PM CDT). A webcast of the presentation will be available on First Industrial's website at www.firstindustrial.com under the "Investors" tab. A replay of the webcast will also be available on the website through Friday, July 3, 2026.First Industrial's presentation materials for the conference will be available u
CHICAGO, April 30, 2026 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced that, based on the final vote count provided by its Independent Inspector of Elections following the Company's 2026 Annual Meeting of Stockholders (the "Annual Meeting"), shareholders re-elected each of the Company's incumbent directors – Peter E. Baccile, Teresa Bryce Bazemore, Matthew S. Dominski, H. Patrick Hackett, Jr., Denise A. Olsen and Marcus L. Smith with each obtaining support from more than 93% of the voted shares. As previously announced, Frank E. Schmitz will also be appointed to the Board of Dir
CHICAGO, April 30, 2026 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced that its board of directors declared a common stock dividend of $0.50 per share/unit for the quarter ending June 30, 2026 payable on July 20, 2026 to stockholders of record on June 30, 2026. 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 oper
Cash Same Store NOI Growth of 8.7%Cash Rental Rates Up 32% in 1Q2641% Cash Rental Rate Increase on Leases Signed To Date Commencing in 2026; Includes 556,000 SF Renewal in the Inland EmpireSigned Agreement with 3PL Credit Watchlist Tenant; Collected Approximately 60% of Balance Owed at Year-End 2025 with Scheduled Payments to Collect Remainder by End of 2026Signed 383,000 SF of New Leases for Several Development Projects in the First Quarter and Second Quarter To DateStarted Two Developments in the First Quarter Totaling 305,000 SF in Miami and Dallas, Estimated Investment of $70 MillionClosed $425 Million and $375 Million Unsecured Term LoansIncreased First Quarter 2026 Dividend to $0.50 Pe
Believes FR's Own Letter Reinforces L&B's Core Thesis: A High-Quality Portfolio Trades at a Persistent Discount Due to Governance Failures Notes That FR's Updated TSR Tables Now Include the Activism Premium Generated by L&B's Campaign, Undermining the Board's Claims of Organic Outperformance Highlights That Every Concession FR Has Made Since December 2025 – Buyback, Dividend Increase, New Director, Property Tours – Occurred Only After L&B's Public Pressure Calls on Fellow Shareholders to Vote Against the Reelection of Chairman Matt Dominski and Director H. Patrick Hackett, Jr. – the Two Longest-Tenured Directors on the Board – at the Upcoming Annual Meeting Today, Land & Buildings I
Announces Property Tours for Investors/Analysts: Southern California May 12th and New Jersey June 4thCHICAGO, April 8, 2026 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of logistics real estate, will host its first quarter 2026 results conference call on Thursday, April 23, 2026 at 10:00 a.m. CDT (11:00 a.m. EDT). The conference call may be accessed by dialing (833) 890-3273, passcode "First Industrial". The conference call will also be webcast live on the Investors page of the Company's website at www.firstindustrial.com.
Believes FR's Belated Governance and Capital Allocation Concessions Would Not Have Occurred Without L&B's Public Pressure and Still Fall Far Short of What Shareholders Deserve Details That the FR Board's Cherry-Picked Performance Data, Post-Vote Director Appointment, and Discretionary Buyback Are Half-Measures Designed to Preserve the Status Quo Calls on Fellow Shareholders to Vote Against the Reelection of Chairman Matt Dominski and Director H. Patrick Hackett, Jr. – the Two Longest-Tenured Directors on the Board – at Upcoming Annual Meeting Today, Land & Buildings Investment Management, LLC (together with its affiliates, "Land & Buildings," "L&B," "us" or "we"), a shareholder of Fir
CHICAGO, March 20, 2026 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of logistics real estate, today commented on Land & Buildings' withdrawal of its director nominee, Land & Buildings principal Jonathan Litt, in connection with the Company's upcoming 2026 Annual Meeting of Stockholders (the "Annual Meeting") to be held on April 30, 2026. The Company issued the following statement:Land & Buildings has repeatedly made misleading statements about the Company's strategy and governance, including misrepresent
Reiterates Belief That Urgent Change Is Needed at FR Given Ongoing Value Destruction Overseen by Current Board and Repeated Actions Taken to Preserve the Status Quo at All Costs Calls on Fellow Shareholders to Vote Against the Reelection of Chairman Matt Dominski and Director H. Patrick Hackett, Jr. – the Two Longest-Tenured Directors on the Board, Both of Whom Have Overseen Governance Failures Costing Shareholders ~$2B in Market Capitalization Determines That Change Can Be More Effectively Delivered From Outside the Boardroom Given Company's Unwillingness to Engage on Meaningful Governance Improvements; Withdraws Nomination of Land & Buildings Founder and CIO Today, Land & Buildings
Announces $250 Million Share Repurchase Authorization, Plans Series of Market Tours for Investors/Analysts in 2026CHICAGO, March 16, 2026 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced that Frank E. Schmitz will be appointed to the First Industrial Board of Directors, effective June 1, 2026. Following his appointment, the Board will comprise seven directors, six of whom will be independent. "We look forward to welcoming Frank to our Board of Directors," said Matthew
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Deutsche Bank upgraded First Industrial Realty from Hold to Buy and set a new price target of $67.00
Cantor Fitzgerald initiated coverage of First Industrial Realty with a rating of Neutral and set a new price target of $55.00
Goldman upgraded First Industrial Realty from Sell to Neutral and set a new price target of $59.00 from $52.00 previously
Deutsche Bank initiated coverage of First Industrial Realty with a rating of Hold and set a new price target of $52.00
KeyBanc Capital Markets upgraded First Industrial Realty from Underweight to Sector Weight
Wolfe Research upgraded First Industrial Realty from Peer Perform to Outperform and set a new price target of $64.00
Exane BNP Paribas initiated coverage of First Industrial Realty with a rating of Outperform and set a new price target of $57.00
Wedbush downgraded First Industrial Realty from Outperform to Neutral and set a new price target of $49.00 from $59.00 previously
Barclays downgraded First Industrial Realty from Overweight to Equal Weight and set a new price target of $53.00 from $63.00 previously
Wells Fargo initiated coverage of First Industrial Realty with a rating of Equal Weight
Live finance-specific insights
CHICAGO, April 30, 2026 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced that its board of directors declared a common stock dividend of $0.50 per share/unit for the quarter ending June 30, 2026 payable on July 20, 2026 to stockholders of record on June 30, 2026. 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 oper
Cash Same Store NOI Growth of 8.7%Cash Rental Rates Up 32% in 1Q2641% Cash Rental Rate Increase on Leases Signed To Date Commencing in 2026; Includes 556,000 SF Renewal in the Inland EmpireSigned Agreement with 3PL Credit Watchlist Tenant; Collected Approximately 60% of Balance Owed at Year-End 2025 with Scheduled Payments to Collect Remainder by End of 2026Signed 383,000 SF of New Leases for Several Development Projects in the First Quarter and Second Quarter To DateStarted Two Developments in the First Quarter Totaling 305,000 SF in Miami and Dallas, Estimated Investment of $70 MillionClosed $425 Million and $375 Million Unsecured Term LoansIncreased First Quarter 2026 Dividend to $0.50 Pe
Announces Property Tours for Investors/Analysts: Southern California May 12th and New Jersey June 4thCHICAGO, April 8, 2026 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of logistics real estate, will host its first quarter 2026 results conference call on Thursday, April 23, 2026 at 10:00 a.m. CDT (11:00 a.m. EDT). The conference call may be accessed by dialing (833) 890-3273, passcode "First Industrial". The conference call will also be webcast live on the Investors page of the Company's website at www.firstindustrial.com.
2025 NAREIT FFO/Share Growth of 11.7%32% Cash Rental Rate Increase on Leases Commencing in 2025; 37% Increase Excluding 1.3 MSF Fixed-Rate Renewal35% Cash Rental Rate Increase on Leases Signed To Date Commencing in 2026Cash Same Store NOI Growth of 7.1% for the Full Year 2025Increased First Quarter 2026 Dividend to $0.50 Per Share, a 12.4% IncreaseAcquired the Last Remaining Building from Our Camelback 303 JV in Phoenix in the Fourth Quarter; 968,000 SF, 100% Leased, $125 Million Purchase PriceStarted Two Developments in 1Q26 To Date Totaling 305,000 SF in Miami and Dallas, Estimated Investment of $70 MillionSigned 447,000 SF of New Leases for Development Projects in the Fourth Quarter; 231,
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 summ
CHICAGO, Jan. 8, 2026 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of logistics real estate, will host its fourth quarter and full year 2025 results conference call on Thursday, February 5, 2026 at 10:00 a.m. CST (11:00 a.m. EST). The conference call may be accessed by dialing (833) 890-3273, passcode "First Industrial". The conference call will also be webcast live on the Investors page of the Company's website at www.firstindustrial.com. First Industrial's fourth quarter and full year 2025 results wil
CHICAGO, Oct. 29, 2025 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of industrial real estate, today announced that its board of directors declared a common stock dividend of $0.445 per share/unit for the quarter ending December 31, 2025 payable on January 20, 2026 to stockholders of record on December 31, 2025. 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
Signed 772,000 SF of New Leases for Development Projects in the Third Quarter and Fourth Quarter To-DateRemaining 501,000 SF at Building C at Our Camelback 303 JV in Phoenix in 3Q2556,000 SF at First Park Miami Building 3 in South Florida in 3Q25159,000 SF at First Harley Knox Logistics Center in the Inland Empire in 4Q2557,000 SF at First Park Miami Building 12 in South Florida in 4Q2532% Cash Rental Rate Increase on Leases Signed To-Date Commencing in 2025; 37% Increase Excluding 1.3 MSF Fixed-Rate Renewal31% Cash Rental Rate Increase on Leases Signed To-Date Commencing in 20262025 NAREIT FFO Guidance Increased $0.04 at the Midpoint to $2.94 to $2.98 Per Share/UnitCHICAGO, Oct. 15, 2025 /P
CHICAGO, Sept. 23, 2025 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of logistics real estate, will host its third quarter 2025 results conference call on Thursday, October 16, 2025 at 10:00 a.m. CDT (11:00 a.m. EDT). The conference call may be accessed by dialing (833) 890-3273, passcode "First Industrial". The conference call will also be webcast live on the Investors page of the Company's website at www.firstindustrial.com. First Industrial's third quarter 2025 results will be released on Wednesday,
CHICAGO, Aug. 12, 2025 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of industrial real estate, today announced that its board of directors declared a common stock dividend of $0.445 per share/unit for the quarter ending September 30, 2025 payable on October 20, 2025 to stockholders of record on September 30, 2025. 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 full
Live Leadership Updates
Believes FR's Own Letter Reinforces L&B's Core Thesis: A High-Quality Portfolio Trades at a Persistent Discount Due to Governance Failures Notes That FR's Updated TSR Tables Now Include the Activism Premium Generated by L&B's Campaign, Undermining the Board's Claims of Organic Outperformance Highlights That Every Concession FR Has Made Since December 2025 – Buyback, Dividend Increase, New Director, Property Tours – Occurred Only After L&B's Public Pressure Calls on Fellow Shareholders to Vote Against the Reelection of Chairman Matt Dominski and Director H. Patrick Hackett, Jr. – the Two Longest-Tenured Directors on the Board – at the Upcoming Annual Meeting Today, Land & Buildings I
Believes FR's Belated Governance and Capital Allocation Concessions Would Not Have Occurred Without L&B's Public Pressure and Still Fall Far Short of What Shareholders Deserve Details That the FR Board's Cherry-Picked Performance Data, Post-Vote Director Appointment, and Discretionary Buyback Are Half-Measures Designed to Preserve the Status Quo Calls on Fellow Shareholders to Vote Against the Reelection of Chairman Matt Dominski and Director H. Patrick Hackett, Jr. – the Two Longest-Tenured Directors on the Board – at Upcoming Annual Meeting Today, Land & Buildings Investment Management, LLC (together with its affiliates, "Land & Buildings," "L&B," "us" or "we"), a shareholder of Fir
Announces $250 Million Share Repurchase Authorization, Plans Series of Market Tours for Investors/Analysts in 2026CHICAGO, March 16, 2026 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced that Frank E. Schmitz will be appointed to the First Industrial Board of Directors, effective June 1, 2026. Following his appointment, the Board will comprise seven directors, six of whom will be independent. "We look forward to welcoming Frank to our Board of Directors," said Matthew
CHICAGO, April 5, 2021 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator, and developer of industrial real estate, announced today that David G. Harker, Executive Vice President – Central Region has notified First Industrial of his intention to retire from the Company effective as of June 30, 2021. Consistent with the company's succession planning, Johannson L. Yap and Peter O. Schultz each will assume portions of Mr. Harker's duties. Since joining First Industrial in 1998, Mr. Harker has provided thoughtful leadership to his team and made countless contributions to the transformation of the First Industrial portfolio and our operation
CHICAGO, Feb. 25, 2021 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator, and developer of industrial real estate, announced today that Marcus L. Smith has been appointed to its board of directors and will serve as a member of its investment and nominating/corporate governance committees. Mr. Smith is a director of MCSI Inc. (NYSE: MSCI), a leading provider of critical decision support tools and services for the global investment community. Mr. Smith was most recently the Director of Equity (Canada) and a portfolio manager at MFS Investment Management ("MFS") until his retirement in April 2017. He was responsible for managing the MFS
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