First Industrial Realty Trust Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), First Industrial Realty Trust Inc reported revenue of $727.1M (+8.6% year on year) and net income of $264.1M (-10.8% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Lease Revenue | $719.2M | $661.0M | $602.3M | $532.2M |
| Joint Venture Fees | $1.4M | $2.5M | $5.2M | $1.3M |
| Other Revenue | $6.5M | $6.1M | $6.6M | $6.4M |
| Total Revenues | $727.1M | $669.6M | $614.0M | $539.9M |
| Property Expenses | $191.5M | $182.8M | $165.7M | $143.7M |
| General and Administrative | $41.9M | $40.9M | $37.1M | $34.0M |
| Joint Venture Development Services Expense | $629.0K | $1.5M | $3.7M | $909.0K |
| Depreciation and Other Amortization | $185.3M | $171.9M | $163.0M | $147.4M |
| Total Expenses | $419.4M | $397.2M | $369.4M | $326.0M |
| Gain on Sale of Real Estate | $26.9M | $112.0M | $95.7M | $128.3M |
| Interest Expense | ($84.9M) | ($83.0M) | ($74.3M) | ($49.0M) |
| Amortization of Debt Issuance Costs | ($5.0M) | ($3.6M) | ($3.6M) | ($3.2M) |
| Total Other Income (Expense) | ($63.0M) | $25.4M | $17.7M | $76.1M |
| Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision | $244.7M | $297.8M | $262.3M | $290.0M |
| Equity in Income of Joint Venture | $34.7M | $4.3M | $32.2M | $114.9M |
| Income Tax Provision | ($15.3M) | ($6.1M) | ($8.7M) | ($23.4M) |
| Net Income | $264.1M | $296.0M | $285.8M | $381.6M |
| Less: Net Income Attributable to the Noncontrolling Interests | ($16.6M) | ($8.4M) | ($11.0M) | ($22.5M) |
| Net Income Available to Common Stockholders / Unitholders and Participating Securities | $247.4M | $287.6M | $274.8M | $359.1M |
| 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 | $2.72 |
| Weighted Average Shares/Units Outstanding - Basic | 132.4M | 132.4M | 132.3M | 132.0M |
| Weighted Average Shares / Units Outstanding - Diluted | 132.5M | 132.4M | 132.3M | 132.1M |
| Line item | Sep 30, 2026 · Q3 | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 |
|---|---|---|---|---|
| Lease Revenue | $196.3M | $193.9M | $193.9M | $179.4M |
| Joint Venture Fees | $7.0K | $30.0K | $51.0K | $388.0K |
| Other Revenue | $789.0K | $966.0K | $899.0K | $1.6M |
| Total Revenues | $197.1M | $194.9M | $194.8M | $181.4M |
| Property Expenses | $50.4M | $48.0M | $53.6M | $46.2M |
| General and Administrative | $8.6M | $8.9M | $23.0M | $8.6M |
| Joint Venture Development Services Expense | $4.0K | $18.0K | $31.0K | $190.0K |
| Depreciation and Other Amortization | $51.0M | $50.2M | $50.1M | $45.7M |
| Total Expenses | $110.0M | $107.1M | $126.7M | $100.7M |
| Gain on Sale of Real Estate | $0 | $16.6M | $109.0M | $9.5M |
| Interest Expense | ($24.8M) | ($24.5M) | ($23.8M) | ($21.7M) |
| Amortization of Debt Issuance Costs | ($1.6M) | ($1.6M) | ($1.5M) | ($1.4M) |
| Total Other Income (Expense) | ($26.4M) | ($9.4M) | $83.7M | ($13.6M) |
| Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision | $60.8M | $78.4M | $151.8M | $67.2M |
| Equity in Income of Joint Venture | $54.0K | $82.0K | $108.0K | $387.0K |
| Income Tax Provision | ($309.0K) | $1.2M | ($4.0M) | ($192.0K) |
| Net Income | $60.5M | $79.7M | $147.9M | $67.4M |
| Less: Net Income Attributable to the Noncontrolling Interests | ($2.0M) | ($2.6M) | ($4.8M) | ($2.1M) |
| Net Income Available to Common Stockholders / Unitholders and Participating Securities | $58.5M | $77.1M | $143.1M | $65.3M |
| Net Income Allocable to Participating Securities | ($33.0K) | ($43.0K) | ($63.0K) | ($37.0K) |
| Net Income Available to Common Stockholders / Unitholders | $58.5M | $77.1M | $143.0M | $65.3M |
| Net Income Available to Common Stockholders / Unitholders - Basic | $0.44 | $0.58 | $1.08 | $0.49 |
| Net Income Available to Common Stockholders / Unitholders - Diluted | $0.44 | $0.58 | $1.08 | $0.49 |
| Weighted Average Shares/Units Outstanding - Basic | 132.6M | 132.6M | 132.6M | 132.4M |
| Weighted Average Shares/Units Outstanding - Diluted | 132.7M | 132.7M | 132.6M | 132.5M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Land | $1.9B | $1.8B | $1.8B | $1.6B |
| Buildings and Improvements | $4.3B | $3.9B | $3.7B | $3.4B |
| Construction in Progress | $221.1M | $154.0M | $245.4M | $253.9M |
| Less: Accumulated Depreciation | ($1.2B) | ($1.1B) | ($1.0B) | ($921.5M) |
| Net Investment in Real Estate | $5.2B | $4.8B | $4.7B | $4.4B |
| Real Estate, Held-for-Sale | $0 | $4.6M | — | — |
| Operating Lease Right-of-Use Assets | $19.6M | $19.9M | $24.2M | $24.6M |
| Cash and Cash Equivalents | $78.0M | $44.5M | $43.8M | $133.2M |
| Restricted Cash | $0 | $7.2M | $0 | $11.9M |
| Tenant Accounts Receivable | $11.9M | $7.3M | $11.0M | $7.1M |
| Investment in Joint Venture | $5.7M | $51.2M | $44.7M | $8.8M |
| Deferred Rent Receivable | $181.1M | $162.9M | $144.0M | $122.9M |
| Prepaid Expenses and Other Assets, Net | $215.9M | $203.2M | $203.3M | $200.1M |
| Total Assets | $5.7B | $5.3B | $5.2B | $5.0B |
| Mortgage Loan Payable | $9.3M | $9.6M | $10.0M | $10.3M |
| Senior Unsecured Notes, Net | $1.4B | $995.2M | $994.5M | $993.7M |
| Unsecured Term Loans, Net | $922.5M | $922.5M | $920.9M | $919.3M |
| Unsecured Credit Facility | $183.0M | $282.0M | $299.0M | $143.0M |
| Accounts Payable, Accrued Expenses and Other Liabilities | $178.9M | $132.7M | $143.4M | $178.9M |
| Operating Lease Liabilities | $19.4M | $17.6M | $22.0M | $22.3M |
| Rents Received in Advance and Security Deposits | $114.8M | $104.6M | $106.7M | $100.2M |
| Dividends and Distributions Payable | $62.7M | $51.2M | $44.2M | $41.3M |
| Total Liabilities | $2.9B | $2.5B | $2.5B | $2.4B |
| Common Stock ($0.01 par value, 225,000,000 shares authorized and 132,470,326 and 132,349,119 shares issued and outstanding) | 1.3M | 1.3M | 1.3M | 1.3M |
| General Partner Units (132,470,326 and 132,349,119 units outstanding) | $2.6B | $2.6B | $2.5B | $2.4B |
| Limited Partner Units (4,031,088 and 3,640,860 units outstanding) | $143.5M | $127.9M | $109.0M | $95.0M |
| Additional Paid-in Capital | $2.4B | $2.4B | $2.4B | $2.4B |
| Retained Earnings | $230.7M | $219.1M | $127.7M | $23.1M |
| Accumulated Other Comprehensive Income | $3.2M | $19.9M | $22.3M | $33.4M |
| Total First Industrial, L.P.'s Partners' Capital | $2.8B | $2.7B | $2.6B | $2.5B |
| Total First Industrial Realty Trust, Inc.'s Equity | $2.7B | $2.7B | $2.6B | $2.5B |
| Noncontrolling Interests | $87.5M | $80.4M | $72.1M | $71.1M |
| Noncontrolling Interests | $7.1M | $7.9M | $7.4M | $14.8M |
| Total Equity | $2.8B | $2.7B | $2.6B | $2.5B |
| Total Partners' Capital | $2.8B | $2.8B | $2.6B | $2.5B |
| Total Liabilities and Equity/Partners' Capital | $5.7B | $5.3B | $5.2B | $5.0B |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 |
|---|---|---|---|---|
| Land | $1.9B | $1.9B | $1.9B | $1.8B |
| Buildings and Improvements | $4.5B | $4.4B | $4.3B | $4.1B |
| Construction in Progress | $230.4M | $199.2M | $207.4M | $207.0M |
| Less: Accumulated Depreciation | ($1.3B) | ($1.2B) | ($1.2B) | ($1.2B) |
| Net Investment in Real Estate | $5.4B | $5.2B | $5.2B | $5.0B |
| Operating Lease Right-of-Use Assets | $19.0M | $19.0M | $19.3M | $19.9M |
| Cash and Cash Equivalents | $42.4M | $46.1M | $37.1M | $33.5M |
| Tenant Accounts Receivable | $7.9M | $8.8M | $13.1M | $8.5M |
| Investment in Joint Venture | $4.1M | $4.1M | $5.8M | $61.2M |
| Deferred Rent Receivable | $193.0M | $187.3M | $183.6M | $176.1M |
| Prepaid Expenses and Other Assets, Net | $245.9M | $222.0M | $352.3M | $205.5M |
| Total Assets | $5.9B | $5.8B | $5.8B | $5.5B |
| Mortgage Loan Payable | $9.0M | $9.1M | $9.2M | $9.4M |
| Senior Unsecured Notes, Net | $1.4B | $1.4B | $1.4B | $1.4B |
| Unsecured Term Loans, Net | $994.0M | $993.4M | $992.8M | $922.2M |
| Unsecured Credit Facility | $198.0M | $123.0M | $124.0M | $33.0M |
| Accounts Payable, Accrued Expenses and Other Liabilities | $158.6M | $146.2M | $154.7M | $181.3M |
| Operating Lease Liabilities | $19.0M | $19.0M | $19.2M | $19.8M |
| Rents Received in Advance and Security Deposits | $113.1M | $111.3M | $112.7M | $101.5M |
| Dividends and Distributions Payable | $70.1M | $69.5M | $69.3M | $61.6M |
| Total Liabilities | $3.0B | $2.9B | $2.9B | $2.8B |
| Common Stock ($0.01 par value, 225,000,000 shares authorized and 132,577,762 and 132,470,326 shares issued and outstanding) | 1.3M | 1.3M | 1.3M | 1.3M |
| General Partner Units (132,577,762 and 132,470,326 units outstanding) | $2.7B | $2.7B | $2.7B | $2.6B |
| Limited Partner Units (4,453,179 and 4,031,088 units outstanding) | $162.9M | $161.7M | $159.3M | $143.1M |
| Additional Paid-in Capital | $2.4B | $2.4B | $2.4B | $2.4B |
| Retained Earnings | $309.6M | $317.5M | $306.7M | $211.0M |
| Accumulated Other Comprehensive Income | $17.4M | $11.3M | $7.0M | $5.3M |
| Total First Industrial, L.P.'s Partners' Capital | $2.9B | $2.9B | $2.9B | $2.7B |
| Total First Industrial Realty Trust, Inc.'s Equity | $2.8B | $2.8B | $2.8B | $2.7B |
| Noncontrolling Interests | $94.1M | $94.1M | $93.5M | $89.4M |
| Noncontrolling Interests | $1.7M | $1.7M | $1.9M | $8.6M |
| Total Equity | $2.9B | $2.9B | $2.9B | $2.7B |
| Total Partners' Capital | $2.9B | $2.9B | $2.9B | $2.7B |
| Total Liabilities and Equity/Partners' Capital | $5.9B | $5.8B | $5.8B | $5.5B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net Income | $264.1M | $296.0M | $285.8M | $381.6M |
| Depreciation | $148.9M | $139.2M | $130.4M | $119.5M |
| Amortization of Debt Issuance Costs | $5.0M | $3.6M | $3.6M | $3.2M |
| Other Amortization, Including Equity Based Compensation | $46.1M | $37.1M | $34.1M | $32.8M |
| Equity in Income of Joint Venture | ($34.7M) | ($4.3M) | ($32.2M) | ($114.9M) |
| Distributions from the Joint Venture | $57.6M | $2.9M | $7.4M | $118.0M |
| Gain on Sale of Real Estate | ($26.9M) | ($112.0M) | ($95.7M) | ($128.3M) |
| Payments to Settle Derivative Instruments | ($250.0K) | — | — | — |
| Straight-line Rental Income and Expense, Net | ($16.4M) | ($20.8M) | ($21.9M) | ($26.0M) |
| Increase in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net | ($11.3M) | ($710.0K) | ($2.4M) | ($4.9M) |
| Increase (Decrease) in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits | $29.0M | $11.4M | ($4.4M) | $31.3M |
| Net Cash Provided by Operating Activities | $461.3M | $352.5M | $304.8M | $410.9M |
| Acquisitions of Real Estate | ($346.5M) | ($73.9M) | ($131.1M) | ($305.3M) |
| Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs | ($283.8M) | ($215.6M) | ($361.9M) | ($522.4M) |
| Net Proceeds from Sales of Investments in Real Estate | $40.0M | $158.9M | $120.4M | $175.4M |
| (Increase) Decrease in Escrow Deposits | ($659.0K) | ($150.0K) | $3.9M | $450.0K |
| Contributions to and Investments in Joint Venture | ($4.4M) | ($5.7M) | ($12.3M) | ($5.6M) |
| Distributions from the Joint Venture | $69.5M | $0 | $0 | $29.4M |
| Other Investing Activity | $1.6M | $4.8M | $2.7M | ($1.6M) |
| Net Cash Used in Investing Activities | ($524.2M) | ($131.6M) | ($378.3M) | ($629.1M) |
| Financing Issuance Costs | ($12.4M) | $0 | ($61.0K) | ($5.3M) |
| Income Taxes Paid on Vested Equity Compensation | ($1.6M) | ($2.1M) | ($2.5M) | ($2.9M) |
| Common Stock Dividends and Unit Distributions Paid | ($231.2M) | ($193.5M) | ($169.4M) | ($155.3M) |
| Contributions from Noncontrolling Interests | $25.0K | $0 | $0 | $103.0K |
| Distributions to Noncontrolling Interests | ($9.9M) | ($143.0K) | ($11.5M) | ($4.4M) |
| Repayments on Mortgage Loan Payable | ($348.0K) | ($335.0K) | ($321.0K) | ($69.5M) |
| Proceeds from the Issuance of Senior Unsecured Notes, Net of Underwriter's Discount | $443.8M | — | — | $0 |
| Proceeds from Unsecured Credit Facility | $775.0M | $321.0M | $374.0M | $720.0M |
| Repayments on Unsecured Credit Facility | ($874.0M) | ($338.0M) | ($218.0M) | ($656.0M) |
| Net Cash Provided by (Used in) Financing Activities | $89.3M | ($213.0M) | ($27.8M) | $304.5M |
| Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash | $26.4M | $7.8M | ($101.3M) | $86.3M |
| Cash, Cash Equivalents and Restricted Cash, Beginning of Year | $51.7M | $43.8M | $145.1M | $58.8M |
| Cash, Cash Equivalents and Restricted Cash, End of Year | $78.0M | $51.7M | $43.8M | $145.1M |
| Interest Paid, Net of Interest Expense Capitalized | $69.0M | $82.9M | $72.9M | $46.4M |
| Interest Expense Capitalized in Connection with Development Activity | $12.8M | $8.3M | $13.8M | $16.3M |
| Cash Paid for Operating Lease Liabilities | $3.3M | $3.5M | $3.3M | $3.4M |
| Operating Lease Liabilities Arising from Obtaining Right-of-Use Assets | $3.2M | $658.0K | $941.0K | $949.0K |
| Dividends and Distributions Payable | $62.7M | $51.2M | $44.2M | $41.3M |
| Conversion of Limited Partner Units to Common Stock / General Partner Units | $0 | $0 | $0 | $0 |
| Assumption of Liabilities in Connection with the Acquisition of Real Estate | $2.2M | $682.0K | $528.0K | $2.1M |
| Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate | $70.0M | $46.3M | $55.9M | $86.5M |
| Improvements Funded by Tenant | $9.3M | $1.1M | $3.9M | $610.0K |
| Write-off of Fully Depreciated Assets | ($52.9M) | ($33.9M) | ($33.5M) | ($35.7M) |
| Line item | Sep 30, 2026 · YTD | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD |
|---|---|---|---|---|
| Net Income | $288.1M | $227.6M | $147.9M | $177.1M |
| Depreciation | $120.7M | $79.9M | $40.1M | $110.1M |
| Amortization of Debt Issuance Costs | $4.7M | $3.1M | $1.5M | $3.7M |
| Other Amortization, Including Equity Based Compensation | $40.2M | $30.1M | $21.1M | $36.7M |
| Equity in Income of Joint Venture | ($244.0K) | ($190.0K) | ($108.0K) | ($3.8M) |
| Distributions from the Joint Venture | $244.0K | $190.0K | — | $23.1M |
| Gain on Sale of Real Estate | ($125.6M) | ($125.6M) | ($109.0M) | ($17.5M) |
| Payments to Settle Derivative Instruments | $0 | $0 | — | ($250.0K) |
| Straight-line Rental Income and Expense, Net | ($12.6M) | ($6.9M) | ($3.1M) | ($11.1M) |
| Increase in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net | ($10.3M) | ($523.0K) | ($5.4M) | ($11.2M) |
| Increase in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits | $13.7M | ($4.8M) | ($4.0M) | $32.4M |
| Net Cash Provided by Operating Activities | $318.9M | $202.9M | $88.9M | $339.2M |
| Acquisitions of Real Estate | ($201.5M) | ($65.8M) | $0 | ($172.6M) |
| Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs | ($186.9M) | ($132.3M) | ($71.3M) | ($210.4M) |
| Net Proceeds from Sales of Investments in Real Estate | $156.6M | $156.6M | $0 | $25.3M |
| Contributions to and Investments in Joint Venture | $0 | $0 | $0 | ($4.4M) |
| Distributions from the Joint Venture | $1.6M | $1.6M | — | — |
| Other Investing Activity | ($4.4M) | ($168.0K) | ($1.2M) | $1.0M |
| Net Cash Used in Investing Activities | ($234.7M) | ($40.0M) | ($72.5M) | ($360.9M) |
| Financing Issuance Costs | ($5.3M) | ($5.3M) | ($5.3M) | ($12.5M) |
| Income Taxes Paid on Vested Equity Compensation | ($2.3M) | ($2.3M) | ($2.3M) | ($1.6M) |
| Common Stock Dividends and Unit Distributions Paid | ($196.5M) | ($128.4M) | ($60.4M) | ($170.8M) |
| Contributions from Noncontrolling Interests | $54.0K | $5.0K | $2.0K | $21.0K |
| Repayments on Mortgage Loan Payable | ($272.0K) | ($180.0K) | ($90.0K) | ($260.0K) |
| Proceeds from the Issuance of Senior Unsecured Notes, Net of Underwriter's Discount | $0 | $0 | $75.0M | $443.8M |
| Proceeds From Unsecured Term Loans | $75.0M | $75.0M | — | — |
| Proceeds from Unsecured Credit Facility | $348.0M | $197.0M | $116.0M | $482.0M |
| Repayments on Unsecured Credit Facility | ($333.0M) | ($257.0M) | ($175.0M) | ($731.0M) |
| Distributions to Noncontrolling Interests | ($5.5M) | ($5.5M) | ($5.3M) | ($2.7M) |
| Net Cash (Used in) Provided by Financing Activities | ($119.8M) | ($126.7M) | ($57.3M) | $6.8M |
| Net Decrease in Cash, Cash Equivalents and Restricted Cash | ($35.6M) | $36.1M | ($40.9M) | ($14.9M) |
| Cash, Cash Equivalents and Restricted Cash, Beginning of Year | $78.0M | $78.0M | $78.0M | $51.7M |
| Cash, Cash Equivalents and Restricted Cash, End of Period | $42.4M | $114.2M | $37.1M | $36.8M |
| Interest Expense Capitalized in Connection with Development Activity | $8.7M | $6.1M | $3.0M | $9.4M |
| Cash Paid for Operating Lease Liabilities | $2.1M | $1.5M | $696.0K | $2.4M |
| Operating Lease Liabilities Arising from Obtaining Right-of-Use Assets | $336.0K | $67.0K | $67.0K | $3.2M |
| Dividends and Distributions Payable | $70.1M | $69.5M | $69.3M | $61.6M |
| Conversion of Limited Partner Units to Common Stock / General Partner Units | $0 | $0 | $0 | $0 |
| Assumption of Other Assets in Connection with the Acquisition of Real Estate | ($320.0K) | — | — | — |
| Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate | $44.8M | $44.7M | $47.6M | $62.9M |
| Improvements Funded by Tenant | $7.9M | $5.3M | $1.9M | $1.0M |
| Write-off of Fully Depreciated Assets | ($33.0M) | ($21.6M) | ($14.3M) | ($39.0M) |
First Industrial Realty Trust Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.