First Industrial Realty Trust Announces Tax Treatment for 2024 Common Stock Distributions
Overview
First Industrial Realty Trust, Inc., a well-respected player in the logistics real estate sector, has provided a comprehensive update regarding the tax implications of its distributions for the year 2024. This announcement is crucial for shareholders who want to understand how these distributions will affect their tax obligations.
Key Details of the Announcement
On January 17, 2025, First Industrial Realty Trust (NYSE: FR), headquartered in Chicago, communicated the preliminary results of its tax treatment related to common stock distributions. The reported information, while subject to adjustments, is expected to remain largely unchanged. Shareholders are encouraged to engage with their tax advisors for personalized guidance on the treatment specific to their circumstances.
Distribution Breakdown
The following table outlines the details regarding the income tax treatment for various distributions:
| Record Date | Payable Date | Cash Distribution Per Share | Ordinary Dividends | Capital Gain Distributions | Unrecaptured Section 1250 Gain | Section 199A Dividends |
|---|---|---|---|---|---|---|
| --- | ---- | ------- | ---- | ----- | ------- | ----- |
| 3/28/2024 | 4/15/2024 | $0.3700 | $0.1770 | $0.1930 | $0.0737 | $0.1770 |
| 6/28/2024 | 7/15/2024 | $0.3700 | $0.1770 | $0.1930 | $0.0737 | $0.1770 |
| 9/30/2024 | 10/21/2024 | $0.3700 | $0.1770 | $0.1930 | $0.0737 | $0.1770 |
| 12/31/2024 | 1/21/2025 | $0.3700 | $0.1770 | $0.1930 | $0.0737 | $0.1770 |
Total and Percentage Summary
- - Total Cash Distribution: $1.4800 per share
- - Total Ordinary Dividends: $0.7080 per share
- - Total Capital Gain Distributions: $0.7720 per share
- - Total Unrecaptured Section 1250 Gain: $0.2948 per share
- - Total Section 199A Dividends: $0.7080 per share
This breakdown reveals that roughly 47.8% of the total distributions consist of ordinary dividends, while capital gains make up the remaining 52.2%.
Capital Gain Explanations
It is noteworthy that all capital gain distributions are classified as Section 897 gain. Furthermore, First Industrial Realty Trust is in compliance with the new Treasury Regulation regarding the disclosure of capital gain distributions, specifically indicating that the one- and three-year amounts required are both zero for the 2024 distributions due to all capital gains pertaining to Section 1231 gains.
About First Industrial Realty Trust, Inc.
First Industrial Realty Trust, Inc. specializes in logistics properties and is committed to enhancing supply chain efficiency for multinational corporations and regional businesses. With a strategic focus on markets that show growth potential, the Trust manages approximately 69.0 million square feet of industrial space.
As the year 2025 unfolds, stakeholder engagement remains a priority for the company, ensuring that all shareholders receive adequate information to navigate their tax obligations effectively. Interested individuals seeking further insights are encouraged to visit First Industrial's website for more detailed information on their operational performance and strategic objectives.
Forward-Looking Statements
Statements within this announcement constitute forward-looking information, highlighting the firm's plans and anticipations. Shareholders should consider the potential variability in these expectations based on varying economic conditions and external factors.
This update serves as a timely reminder for shareholders to reassess their financial strategies in light of the forthcoming tax implications. The diligence in understanding these aspects will enable investors to maximize their financial planning as they navigate the complex landscape of tax regulations associated with real estate investment.
Topics Financial Services & Investing）
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