First Industrial Realty Trust (FR)
Real Estate · Industrial real estate investment trust (REIT)
First Industrial Realty Trust is an industrial real estate REIT with a 414-property portfolio spanning 69.9 million square feet across 19 states, focused on premium logistics markets and e-commerce supply chain infrastructure.
What First Industrial Realty Trust does
First Industrial Realty Trust is a self-administered, fully integrated real estate investment trust (REIT) that owns, manages, acquires, sells, develops, and redevelops industrial properties. As of December 31, 2025, the company operates a portfolio of 414 industrial properties across 19 states, containing approximately 69.9 million square feet of gross leasable area. The company pursues growth through internal operational optimization, external acquisitions and development projects, and portfolio enhancement, focused primarily on 15 key logistics markets exhibiting favorable industrial fundamentals.
Themes: ["Industrial real estate / logistics","Distribution center real estate","e-commerce / supply chain infrastructure","Portfolio management and asset optimization"]
Fundamentals
- Price$64.89 as of 2026-07-09 close
- Market cap$8.9B as of 2026-07-10
- 1-year return+33.2% as of 2026-07-09 close
- P/E25.89 as of 2026-07-10
- Net margin+46.0% as of 2026-07-10
- Gross margin+73.6% as of 2026-07-10
- ROE+12.8% as of 2026-07-10
- Debt / equity0.93 as of 2026-07-10
- Revenue growth (YoY)+8.8% as of 2026-07-10
- Revenue CAGR (3y)+10.4% SEC XBRL
- Beta1.07 as of 2026-07-10
Dividend: yield +3.1%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Market conditions and economic cycles affecting industrial real estate demand and rental rates","Concentration risk in 15 key logistics markets and dependence on favorable supply/demand dynamics in those markets","Development execution risk and ability to acquire properties at favorable terms within target markets"]
Competitors & peers
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.