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AI brief of an SEC Form 8-K · First Industrial Realty Trust (FR)

First Industrial Q1 EPS $1.08 vs $0.36 a year ago; FFO flat at $0.68

Positive Impact 3 of 5 earnings Written later

First Industrial reported first-quarter 2026 revenue of $194.8 million, up from $177.1 million, and diluted EPS of $1.08, up from $0.36, helped by a $109.0 million gain on sale of real estate. Diluted FFO per share was $0.68, flat year over year, and $0.72 excluding $5.6 million of advisory costs tied to a contested proxy campaign. Shareholders also received a 12.4% dividend increase to $0.50 per share, though occupancy was lower than a year earlier.

Key points

  • Revenue rose to $194.8 million from $177.1 million; diluted EPS was $1.08 versus $0.36, driven by a $109.0 million gain on sale of real estate compared with $6.8 million a year earlier.
  • Diluted FFO was $0.68 per share/unit, flat with a year earlier; $0.72 excluding $5.6 million of proxy campaign advisory costs.
  • Cash same store NOI grew 8.7%, while in-service occupancy was 94.3% at March 31, 2026, down from 95.3% a year earlier.
  • Quarterly dividend raised to $0.50 per share from $0.445, a 12.4% increase, and a new share repurchase program of up to $250 million was established.

The filing

CompanyFirst Industrial Realty Trust (FR)
Form8-K, current report
Filed with the SECApr 22, 2026, 4:53 PM ET
Accession number0000921825-26-000051

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 22, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.