First Industrial Realty Trust (FRA:F5W) Dividend Payout Ratio: 1.79 (As of Mar. 2026) — 66% Above Median

What is First Industrial Realty Trust Dividend Payout Ratio?

First Industrial Realty Trust FRA:F5W +1.89% 88 Dividend Payout Ratio is 1.79 as of Mar. 2026, which is 66% above its 10-year median of 1.08. GuruFocus rates FRA:F5W with a GF Score™ of 88/100 and a GF Value™ of €53.70. The stock has 8 warning signs investors should review. Among 713 REITs companies, First Industrial Realty Trust ranks worse than 61.01% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. First Industrial Realty Trust's Dividend Payout Ratio for the months ended in Mar. 2026 was 1.79.

Warning Sign:

If a company's dividend payout ratio is too high, its dividend may not be sustainable. The dividend payout ratio of First Industrial Realty Trust Inc is 1.12, which seems too high.

The historical rank and industry rank for First Industrial Realty Trust's Dividend Payout Ratio or its related term are showing as below:

FRA:F5W' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.65 Med: 1.08 Max: 1.62
Current: 1.12

During the past 13 years, the highest Dividend Payout Ratio of First Industrial Realty Trust was 1.62. The lowest was 0.65. And the median was 1.08.

FRA:F5W's Dividend Payout Ratio is ranked worse than
61.01% of 713 companies
in the REITs industry
Industry Median: 0.99 vs FRA:F5W: 1.12

As of today (2026-07-06), the Dividend Yield % of First Industrial Realty Trust is 3.02%.

During the past 13 years, the highest Trailing Annual Dividend Yield of First Industrial Realty Trust was 3.41%. The lowest was 1.63%. And the median was 2.53%.

First Industrial Realty Trust's Dividends per Share for the months ended in Mar. 2026 was €0.43.

During the past 12 months, First Industrial Realty Trust's average Dividends Per Share Growth Rate was 18.00% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 14.70% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 11.80% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 10.50% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of First Industrial Realty Trust was 30.80% per year. The lowest was -4.70% per year. And the median was 6.85% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

First Industrial Realty Trust (FRA:F5W) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

First Industrial Realty Trust Dividend Payout Ratio Related Terms

First Industrial Realty Trust Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for First Industrial Realty Trust's Dividend Payout Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

First Industrial Realty Trust Dividend Payout Ratio Chart

First Industrial Realty Trust Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Dividend Payout Ratio

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1.14

0.65

0.93

1.10

1.06

First Industrial Realty Trust Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Dividend Payout Ratio	Get a 7-Day Free Trial															1.42	1.08	1.07	0.84	1.79

FRA:F5W vs REXR, STAG, CUBE: Dividend Payout Ratio Comparison

For the REIT - Industrial subindustry, First Industrial Realty Trust's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

First Industrial Realty Trust Dividend Payout Ratio vs REITs Industry

For the REITs industry and Real Estate sector, First Industrial Realty Trust's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where First Industrial Realty Trust's Dividend Payout Ratio falls into.

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88GF Score

First Industrial Realty Trust Inc FRA:F5W

Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.

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First Industrial Realty Trust Dividend Payout Ratio Calculation

First Industrial Realty Trust's Dividend Payout Ratio for the fiscal year that ended in Dec. 2025 is calculated as

Dividend Payout Ratio	=	Dividends per Share (A: Dec. 2025 )	/	EPS without NRI (A: Dec. 2025 )
	=	1.52	/	1.434
	=	1.06

First Industrial Realty Trust's Dividend Payout Ratio for the quarter that ended in Mar. 2026 is calculated as

Dividend Payout Ratio	=	Dividends per Share (Q: Mar. 2026 )	/	EPS without NRI (Q: Mar. 2026 )
	=	0.432	/	0.242
	=	1.79

Frequently Asked Questions Learn more about Dividend Payout Ratio →

What does a Dividend Payout Ratio of 1.79 mean?

First Industrial Realty Trust (FRA:F5W) has a Dividend Payout Ratio of 1.79 as of Mar. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on First Industrial Realty Trust and its competitors. This is 66% above median its historical median of 1.08. Over the past decade, First Industrial Realty Trust's Dividend Payout Ratio has ranged from 0.65 to 1.62. According to the industry distribution chart, First Industrial Realty Trust ranks #435 out of 713 companies in the REITs industry, placing it in the top 61%.

Is First Industrial Realty Trust's Dividend Payout Ratio too high?

First Industrial Realty Trust's current Dividend Payout Ratio of 1.79 is 66% above median its 10-year median of 1.08. Over the past 10 years, this metric has ranged from a low of 0.65 to a high of 1.62. The REITs industry median Dividend Payout Ratio is 0.99. First Industrial Realty Trust's value of 1.79 is 80.8% above this industry median. Based on the distribution chart, First Industrial Realty Trust ranks #435 out of 713 companies in the REITs industry, which is below the industry midpoint. Overall, First Industrial Realty Trust has a GF Score™ of 88/100, reflecting its overall financial health beyond just this single metric.

How does First Industrial Realty Trust's Dividend Payout Ratio compare to REXR and STAG?

According to the REITs industry distribution chart, First Industrial Realty Trust ranks #435 out of 713 companies for Dividend Payout Ratio. This places First Industrial Realty Trust in the lower half of its industry. The industry median Dividend Payout Ratio is 0.99. First Industrial Realty Trust's value of 1.79 is 80.8% above this benchmark. Historically, First Industrial Realty Trust's own Dividend Payout Ratio has ranged from 0.65 to 1.62 over the past decade. While the company's 10-year median is 1.08 vs. the industry median of 0.99, First Industrial Realty Trust has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Dividend Payout Ratio for a REITs company?

The median Dividend Payout Ratio among REITs companies is 0.99, based on 713 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Industrial Realty Trust's current Dividend Payout Ratio of 1.79 is 80.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Dividend Payout Ratio mean?

A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on First Industrial Realty Trust and its competitors. For the REITs industry, the median Dividend Payout Ratio is 0.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Industrial Realty Trust's current Dividend Payout Ratio is 1.79, which is 66% above median its own 10-year median of 1.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is First Industrial Realty Trust stock overvalued right now?

First Industrial Realty Trust (FRA:F5W) has a current Dividend Payout Ratio of 1.79. The stock's GF Value™ is €53.70, compared to a current price of €54.00 — trading 0.6% above its estimated fair value. The current Dividend Payout Ratio is 1.79, which is 66% above median its 10-year median of 1.08 and 80.8% above the REITs industry median of 0.99. First Industrial Realty Trust's overall GF Score™ is 88/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Dividend Payout Ratio calculated?

Dividend Payout Ratio is calculated from a company's financial statements. For First Industrial Realty Trust (FRA:F5W), the current Dividend Payout Ratio is 1.79 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is First Industrial Realty Trust (FRA:F5W) Overvalued in 2026?

Based on GuruFocus' analysis, First Industrial Realty Trust stock appears to be overvalued. The current stock price of €54.00 is trading 0.6% above its estimated GF Value™ of €53.70.

Key valuation signals for FRA:F5W:

Dividend Payout Ratio: 1.79 (66% above median its 10-year median of 1.08)
GF Value™: €53.70 vs. price of €54.00 (0.6% above fair value)
GF Score™: 88/100 with 8 warning signs
Industry Position: 80.8% above the REITs median (#435 of 713)

No single metric tells the full story. See the FRA:F5W stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

First Industrial Realty Trust Business Description

Industry Real Estate REITs

Comparable Companies REXR STAG CUBE TRNO LINE EGP COLD NSA LXP SMA PLD PSA EXR LSE:SGRO SGX:A17U MEX:FIBRAPL14 XBRU:WDP LSE:LMP LSE:BBOX SGX:M44U

Other Exchanges FR:USA

Address One North Wacker Drive, Suite 4200, Chicago, IL, USA, 60606

Website https://www.firstindustrial.com

First Industrial Realty Trust Inc is a real estate investment trust that owns, manages, acquires, sells, develops, and redevelops industrial real estate. Through its fully integrated operating and investing platform, the company provides facilities and customer service to multinational corporations and regional firms that are essential for their supply chains. The company serves a diverse tenant base across various sectors, including e-commerce, logistics, transportation, manufacturing, retail, consumer services, food and beverage, building materials, wholesale goods, health services, and government.

88GF Score

Get the complete analysis for FRA:F5W

Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€54.00

Price

€53.70

GF Value

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