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First Industrial Realty Trust FR Improvements Funded by Tenant

Improvements Funded by Tenant at other companies

Rexford Industrial Realty logo
Rexford Industrial RealtyREXR
$205.66M+13.2%
Deckers Outdoor Corporation logo
Deckers Outdoor CorporationDECK
$0
Rubrik logo
RubrikRBRK
$221.25K
The Trade Desk logo
The Trade DeskTTD
$1.55M-69.9%
Starwood Property Trust logo
Starwood Property TrustSTWD
$239K
American Healthcare REIT logo
American Healthcare REITAHR

Other financials

Income statement

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Revenue$194.8M+10.0%
Net income$143.1M+197%
EPS (diluted)$1.08+200%

Balance sheet

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Cash & equivalents$37.1M+3.9%
Total debt$1.0B+7.8%
Total equity$2.8B+4.0%
Total assets$5.8B+6.0%

Cash flow

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Operating cash flow$88.9M+0.4%
CapEx$47.6M-7.1%
Free cash flow$41.3M+10.6%

Valuation

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Market cap$8.19B+7.3%
Enterprise value$9.17B+7.4%
P/E23.9×-4.6×
P/S11×-0.2×

Profitability

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Net margin46%+6.9pp
FCF margin53.1%+6.9pp

Returns & leverage

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Return on equity12.7%+2.5pp
Debt / equity0.4×0.0×

Where this comes from

Reported directly by First Industrial Realty Trust in its filing.

Tagged under the XBRL concept fr:TenantImprovementsFundedByTenant.

The official record: First Industrial Realty Trust’s 10-Q, filed April 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is First Industrial Realty Trust's improvements funded by tenant?
First Industrial Realty Trust (FR) reported improvements funded by tenant of $1.9M in Q1 2026.
What is the long-term trend for First Industrial Realty Trust's improvements funded by tenant?
Over 3 years (2021 to 2025), First Industrial Realty Trust's improvements funded by tenant has grown at a -31.1% compound annual growth rate (CAGR), from $28.56M to $9.33M.
What does improvements funded by tenant mean?
The value of property upgrades paid for by tenants instead of the landlord.
How do you interpret improvements funded by tenant?
Higher values are favorable as they reduce the landlord's capital burden and indicate strong tenant commitment to the space.
How does improvements funded by tenant compare across companies?
Commonly disclosed by industrial and commercial REITs to show net capital investment requirements.