FIRST INDL RLTY TR INC FR
COM · REIT · CUSIP 32054K103
Industrial real estate company
- SectorReal estate
- IndustryReal Estate Investment Trusts
- HeadquartersChicago, IL
- Websitefirstindustrial.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($10.3m this quarter). Holder counts are more reliable. Shares outstanding: 132.6m as of 2026-04-24, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $57.86. Options: 4 managers hold calls ($9.4m notional), 1 hold puts ($28.9k).
Trends to Q1 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 345 |
| Q4 2022 | 342 |
| Q1 2023 | 345 |
| Q2 2023 | 364 |
| Q3 2023 | 377 |
| Q4 2023 | 362 |
| Q1 2024 | 374 |
| Q2 2024 | 382 |
| Q3 2024 | 399 |
| Q4 2024 | 415 |
| Q1 2025 | 440 |
| Q2 2025 | 422 |
| Q3 2025 | 417 |
| Q4 2025 | 450 |
| Q1 2026 | 463 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 181 | 180 |
| Q3 2024 | 203 | 169 |
| Q4 2024 | 203 | 170 |
| Q1 2025 | 232 | 172 |
| Q2 2025 | 223 | 223 |
| Q3 2025 | 197 | 209 |
| Q4 2025 | 219 | 178 |
| Q1 2026 | 257 | 164 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $2.2m | $38.0k | 0.02 |
| Q3 2025 | $725.4k | $10.0k | 0.01 |
| Q4 2025 | $83.4m | $0 | 0.00 |
| Q1 2026 | $9.4m | $28.9k | 0.00 |
Biggest buyers
| CENTERSQUARE INVESTMENT MANAGEMENT LLC | Added | +1.7m |
| Nuveen, LLC | Added | +1.1m |
| Woodline Partners LP | New | +727.5k |
| COHEN & STEERS, INC. | Added | +662.4k |
| PRUDENTIAL FINANCIAL INC | Added | +656.0k |
| TWO SIGMA INVESTMENTS, LP | Added | +452.1k |
| GOLDMAN SACHS GROUP INC | Added | +404.3k |
| Gotham Asset Management, LLC | Added | +353.0k |
| AQR CAPITAL MANAGEMENT LLC | Added | +287.3k |
| Jain Global LLC | Added | +280.4k |
Biggest sellers
| LASALLE INVESTMENT MANAGEMENT SECURITIES LLC | Reduced | -784.6k |
| Sumitomo Mitsui Trust Group, Inc. | Reduced | -752.6k |
| Invesco Ltd. | Reduced | -674.3k |
| Hudson Bay Capital Management LP | Sold out | -652.7k |
| PGGM Investments | Reduced | -617.3k |
| Gillson Capital LP | Sold out | -505.7k |
| AMERICAN CENTURY COMPANIES INC | Reduced | -475.5k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | Reduced | -465.4k |
| Engineers Gate Manager LP | Reduced | -443.8k |
| RUSH ISLAND MANAGEMENT, LP | Reduced | -325.2k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $6.4m111.1k shares |
| CITADEL ADVISORS LLC | Reduced | $2.9m50.6k shares |
| GROUP ONE TRADING LLC | Added | $52.1k900 shares |
| SIMPLEX TRADING, LLC | New | $28.9k500 shares |
Biggest puts
| SIMPLEX TRADING, LLC | New | $28.9k500 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution -3.3 pts · filed 2025-04-30 | 11.3% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 9.5% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.3% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q1 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 1 | $39.7k | — |
| Q1 2026 | 0 | — | 0 | — | — |
None reported in Q1 2026.
Holders, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.02% of their portfolio | 16.7m $966.5m | Reduced -23.7k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.04% of their portfolio | 12.6m $729.9m | First filing |
| STATE STREET CORP 0.01% of their portfolio | 6.4m $371.3m | Reduced -80.5k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 5.9m $343.0m | First filing |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC 2.58% of their portfolio | 4.3m $249.2m | Added +1.7m |
| Invesco Ltd. 0.02% of their portfolio | 3.4m $199.2m | Reduced -674.3k |
| PRUDENTIAL FINANCIAL INC 0.20% of their portfolio | 2.8m $161.3m | Added +656.0k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 2.8m $161.3m | Added +157.8k |
| COHEN & STEERS, INC. 0.27% of their portfolio | 2.7m $157.9m | Added +662.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 2.6m $148.4m | Added +83.9k |
| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC 1.91% of their portfolio | 2.2m $128.9m | Reduced -116.7k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 1.32% of their portfolio | 2.2m $127.0m | Added +11.2k |
| Thrivent Financial for Lutherans 0.24% of their portfolio | 2.2m $124.4m | Added +7.8k |
| MORGAN STANLEY 0.01% of their portfolio | 2.1m $121.7m | Reduced -81.0k |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 2.0m $117.2m | Added +40.1k |
| Alyeska Investment Group, L.P. 0.33% of their portfolio | 2.0m $117.1m | Added +216.2k |
| Nuveen, LLC 0.03% of their portfolio | 1.9m $109.2m | Added +1.1m |
| DEUTSCHE BANK AG\ 0.04% of their portfolio | 1.9m $108.3m | Reduced -142.1k |
| AQR CAPITAL MANAGEMENT LLC 0.05% of their portfolio | 1.9m $106.8m | Added +287.3k |
| RUSH ISLAND MANAGEMENT, LP 6.81% of their portfolio | 1.8m $101.5m | Reduced -325.2k |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 1.6m $91.2m | Reduced -12.9k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 1.6m $90.0m | Added +232.4k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.3m $75.9m | Added +27.8k |
| MILLENNIUM MANAGEMENT LLC 0.05% of their portfolio | 1.3m $72.5m | Added +31.2k |
| Quantinno Capital Management LP 0.12% of their portfolio | 1.2m $70.4m | Added +259.5k |
| Artemis Investment Management LLP 0.73% of their portfolio | 1.2m $68.6m | Added +31.4k |
| PGGM Investments 1.15% of their portfolio | 1.1m $65.7m | Reduced -617.3k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.11% of their portfolio | 1.1m $63.4m | Reduced -465.4k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.1m $61.7m | Reduced -10.4k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 0.56% of their portfolio | 946.4k $54.7m | Reduced -51.9k |
| Engineers Gate Manager LP 0.66% of their portfolio | 918.3k $53.1m | Reduced -443.8k |
| Russell Investments Group, Ltd. 0.06% of their portfolio | 891.6k $51.6m | Added +53.0k |
| Land & Buildings Investment Management, LLC 8.45% of their portfolio | 863.9k $50.0m | Reduced -48.6k |
| LONDON CO OF VIRGINIA 0.30% of their portfolio | 839.6k $48.6m | Added +19.6k |
| VANGUARD FIDUCIARY TRUST CO 0.01% of their portfolio | 822.4k $47.6m | First filing |
| VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio | 820.2k $47.4m | Reduced -98.3k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.04% of their portfolio | 817.0k $47.3m | Added +19.2k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 784.2k $45.4m | Added +404.3k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 778.1k $45.0m | Added +106.9k |
| Legal & General Group Plc 0.01% of their portfolio | 755.1k $43.7m | Reduced -63.1k |
| Woodline Partners LP 0.16% of their portfolio | 727.5k $42.1m | New |
| Allianz Asset Management GmbH 0.05% of their portfolio | 700.2k $40.5m | Added +17.1k |
| CITADEL ADVISORS LLC 0.03% of their portfolio | 634.5k $36.7m | Added +40.2k |
| Heitman Real Estate Securities LLC 2.47% of their portfolio | 593.3k $34.3m | Added +77.0k |
| Starwood Capital Group Management, L.L.C. 17.89% of their portfolio | 581.0k $33.6m | Unchanged |
| Adelante Capital Management LLC 2.15% of their portfolio | 544.6k $31.5m | Added +70.5k |
| Jain Global LLC 0.40% of their portfolio | 537.3k $31.1m | Added +280.4k |
| FMR LLC 0.00% of their portfolio | 498.2k $28.8m | Reduced -66.7k |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 494.8k $28.6m | Added +452.1k |
| Vision Capital Corp 15.28% of their portfolio | 483.8k $28.0m | Added +199.9k |
| Boston Partners 0.03% of their portfolio | 473.5k $27.5m | Reduced -32.5k |
| KENNEDY CAPITAL MANAGEMENT LLC 0.58% of their portfolio | 471.9k $27.3m | Added +27.9k |
| UBS Group AG 0.00% of their portfolio | 471.5k $27.3m | Reduced -96.3k |
| STRS OHIO 0.11% of their portfolio | 464.6k $26.9m | Added +197.0k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.11% of their portfolio | 454.8k $26.3m | Reduced -9.9k |
| SEI INVESTMENTS CO 0.02% of their portfolio | 440.9k $25.5m | Added +54.7k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 409.9k $23.7m | Added +3.8k |
| Lighthouse Investment Partners, LLC 0.86% of their portfolio | 397.8k $23.0m | Reduced -22.2k |
| Alberta Investment Management Corp 0.14% of their portfolio | 393.3k $22.8m | Unchanged |
| TOMS Capital Investment Management LP 1.45% of their portfolio | 381.0k $22.0m | Reduced -44.0k |
| Gotham Asset Management, LLC 0.07% of their portfolio | 380.6k $22.0m | Added +353.0k |
| State of Tennessee, Department of Treasury 0.07% of their portfolio | 371.5k $21.5m | Added +30.0k |
| Daiwa Securities Group Inc. 0.05% of their portfolio | 324.8k $18.8m | Added +57.1k |
| SEGALL BRYANT & HAMILL, LLC 0.27% of their portfolio | 323.0k $18.7m | Reduced -31.1k |
| Argosy-Lionbridge Management, LLC 12.88% of their portfolio | 317.5k $18.4m | Reduced -87.3k |
| APG Asset Management US Inc. 0.14% of their portfolio | 309.9k $18.2m | Added +177.3k |
| Brookfield Corp /ON/ 0.02% of their portfolio | 308.7k $17.9m | Reduced -172.3k |
| LORD, ABBETT & CO. LLC 0.06% of their portfolio | 302.5k $17.5m | Reduced -42.9k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 295.8k $17.1m | Added +10.9k |
| CANADA LIFE ASSURANCE Co 0.03% of their portfolio | 294.0k $17.0m | Added +1.3k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.05% of their portfolio | 290.7k $16.8m | Added +60.5k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 289.1k $16.7m | Added +7.9k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 285.7k $16.5m | Reduced -63.4k |
| HSBC HOLDINGS PLC 0.01% of their portfolio | 279.4k $16.2m | Reduced -157.5k |
| Qube Research & Technologies Ltd 0.02% of their portfolio | 278.8k $16.1m | Added +147.8k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 274.5k $15.7m | Reduced -16.4k |
| Swiss National Bank 0.01% of their portfolio | 262.1k $15.2m | Added +1.0k |
| SG Americas Securities, LLC 0.02% of their portfolio | 257.7k $14.9m | Added +74.2k |
| Point72 Asset Management, L.P. 0.03% of their portfolio | 252.9k $14.6m | Reduced -16.8k |
| California Public Employees Retirement System 0.01% of their portfolio | 244.8k $14.2m | Added +8.8k |
| State of Alaska, Department of Revenue 0.15% of their portfolio | 235.5k $13.6m | Added +715 |
| CITIGROUP INC 0.01% of their portfolio | 233.0k $13.5m | Added +78.8k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.06% of their portfolio | 231.2k $13.4m | Reduced -53.2k |
| Asset Management One Co., Ltd. 0.04% of their portfolio | 220.7k $12.8m | Reduced -33.6k |
| EASTERLY INVESTMENT PARTNERS LLC 0.95% of their portfolio | 216.9k $12.5m | Added +205.1k |
| Susquehanna Portfolio Strategies, LLC 0.19% of their portfolio | 216.4k $12.5m | Added +4.2k |
| NOMURA ASSET MANAGEMENT CO LTD 0.03% of their portfolio | 211.9k $12.3m | Added +6.2k |
| Apollo Management Holdings, L.P. 0.20% of their portfolio | 208.9k $12.1m | Added +6.7k |
| Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio | 207.3k $12.0m | Reduced -752.6k |
| VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 199.0k $11.5m | Reduced -7.7k |
| BARCLAYS PLC 0.00% of their portfolio | 197.8k $11.4m | Reduced -62.9k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.02% of their portfolio | 184.5k $10.7m | Reduced -25.0k |
| NFJ INVESTMENT GROUP, LLC 0.40% of their portfolio | 182.1k $10.5m | Reduced -11.3k |
| Presima Securities ULC 5.91% of their portfolio | 182.0k $10.5m | Unchanged |
| IEQ CAPITAL, LLC 0.04% of their portfolio | 166.1k $9.6m | Added +38.5k |
| VIRGINIA RETIREMENT SYSTEMS ET Al 0.07% of their portfolio | 163.7k $9.5m | Reduced -97.4k |
| Retirement Systems of Alabama 0.03% of their portfolio | 162.5k $9.4m | Added +3.5k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 160.8k $9.3m | Added +23.7k |
| CAPITOLIS LIQUID GLOBAL MARKETS LLC 0.06% of their portfolio | 158.0k $9.1m | First filing |
| STATE OF WISCONSIN INVESTMENT BOARD 0.02% of their portfolio | 156.9k $9.1m | Reduced -11.3k |