First Industrial Realty Trust, Inc. (NYSE: FR) announced its financial results for the fiscal quarter ended September 30, 2026, via an 8-K filing on October 21, 2026. The company reported diluted net income available to common stockholders of $0.44 per share for the third quarter, a decrease from $0.49 per share in the prior year. Funds from operations (FFO) on a diluted basis were $0.81 per share for the quarter, compared to $0.76 per share in the third quarter of 2025.
Portfolio performance for the quarter showed an in-service occupancy rate of 94.1% at the end of September 2026, down from 94.9% in the second quarter of 2026. The company reported that cash rental rates on new and renewal leases increased by 52% in the third quarter of 2026. Additionally, cash same-store net operating income (SS NOI) grew by 5.6% in the quarter.
During the third quarter, First Industrial Realty Trust acquired a fully leased 764,000-square-foot building in Central Pennsylvania for $120 million. The company also leased the remaining 32,000 square feet of its 136,000-square-foot First Park Miami Building 12 in South Florida.
The company updated its 2026 guidance. At the midpoint, the company increased its FFO guidance by $0.01 to a range of $3.15 to $3.19 per share. The guidance also includes a projected cash SS NOI growth of 6.25% to 6.75% for the full year 2026, an increase of 75 basis points at the midpoint. The company projects in-service occupancy at year-end of 94.5% to 96.5% and expects to capitalize $0.08 per share of interest in 2026.
Management will host a quarterly conference call on Thursday, October 22, 2026, at 10:00 a.m. CDT (11:00 a.m. EDT). The call can be accessed by dialing (833) 890-3273 with the passcode “First Industrial”.
