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Companies / Real Estate / First Industrial Realty Trust, Inc.
FR

First Industrial Realty Trust, Inc.

Ticker FRCHICAGO, ILFiscal year ends DecemberBook value per share $20.93Diluted shares 132.7M

First Industrial Realty Trust, Inc. (NYSE: FR) is a self-administered, integrated real estate investment trust that owns, manages, acquires, sells, develops and redevelops industrial properties. Its properties serve business tenants that lease space for industrial and logistics uses. The company conducts most… From the company’s description.

In fiscal 2025, First Industrial Realty Trust, Inc. reported revenue of $727.08M, up 8.6% from fiscal 2024, and net income of $264.08M. Its operating margin was 42.3%, and operations generated $461.26M in cash. Over the twelve months to Sep 30, 2026, revenue was $775.29M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$727.08MFY2025
+8.6% year over year
Last 12 mo $775.29M
42.32%FY2025
+1.6 percentage points
Last 12 mo 41.57%
$264.08MFY2025
−10.8% year over year
Last 12 mo $375.09M
9.26%FY2025
−1.5 percentage points
Last 12 mo 12.88%
Cash & financing
$461.26MFY2025
+30.9% year over year
Last 12 mo $440.93M
$461.26MFY2025
+30.9% year over year
Last 12 mo $440.93M
0.96FY2025
Was 0.83× a year earlier
Last 12 mo 0.95
132.5MFY2025
+0.1% year over year
Last 12 mo 132.7M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What First Industrial Realty Trust, Inc. does

In the company’s own words

First Industrial Realty Trust, Inc. (NYSE: FR) is a self-administered, integrated real estate investment trust that owns, manages, acquires, sells, develops and redevelops industrial properties. Its properties serve business tenants that lease space for industrial and logistics uses. The company conducts most operations through First Industrial, L.P., its operating partnership, which it controls as general partner; it reports the business as one enterprise rather than through separate reportable segments. Its in-service portfolio comprised 414 properties across 19 states, totaling approximately 69.9 million square feet of gross leasable area at December 31, 2025. The company focuses investment and development activity on 15 U.S. logistics markets and also renovates and expands existing properties. First Industrial began operations in 1994, following its organization as a REIT in 1993. Its website is www.firstindustrial.com.

Company details
Sector
Real Estate
Industry (SIC)
REITs
Headquarters
CHICAGO, IL
Fiscal year end
December
CIK
921825
SIC
6798

Financial performance, year by year

Fiscal 2013–2025 · USD
$-77.53M$155.06M$387.65M$620.23M$852.82M2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns First Industrial Realty Trust, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

437
funds hold it
0 of 35
superinvestors hold it
$3.40B
held by funds, at market
41.6%
of shares held by funds

Largest fund holders · First Industrial Realty Trust, Inc.’s weight in each

VANGUARD REAL ESTATE INDEX FUND
VNQ · VANGUARD SPECIALIZED FUNDS
—of fund net assets
iShares Core S&P Mid-Cap ETF
IJH · iShares Trust
0.22%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.10%of fund net assets
VANGUARD SMALL-CAP VALUE INDEX FUND
VBR · VANGUARD INDEX FUNDS
0.17%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do First Industrial Realty Trust, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of First Industrial Realty Trust, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in First Industrial Realty Trust, Inc.'s last four quarterly filings that the numbers alone won't show?”
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