Stockholders' Equity

3 Months Ended

Mar. 31, 2014

Stockholders' Equity Note [Abstract]

Stockholders' Equity

5. Stockholders’ Equity

Preferred Stock

On March 6, 2014, we redeemed all 50,000 depositary shares, each representing 1/100th of a share, of our 6.236%, Series F Flexible Cumulative Redeemable Preferred Stock, $0.01 par value (the "Series F Preferred Stock"), at a redemption price of $1,000.00 per depositary share, and paid a quarterly dividend of $11.3299 per depositary share, totaling $566.

On March 31, 2014, we redeemed all 25,000 depositary shares, each representing 1/100th of a share, of our 7.236%, Series G Flexible Cumulative Redeemable Preferred Stock, $0.01 par value (the "Series G Preferred Stock"), at a redemption price of $1,000.00 per depositary share, and paid a semi-annual dividend of $36.18 per depositary share, totaling $905.

The initial offering costs associated with the issuance of the Series F and Series G Preferred Stock, as well as costs associated with the redemptions, totaled $1,462 and are reflected as a deduction from net income in determining earnings per share for the three months ended March 31, 2014.

The Company has 10,000,000 shares of preferred stock authorized. At March 31, 2014 and December 31, 2013, the Company has 0 and 750 shares of preferred stock outstanding, respectively.

Dividends/Distributions

The coupon rate of our Series F Preferred Stock reset every quarter at 2.375% plus the greater of (i) the 30 year Treasury constant maturity treasury ("CMT") Rate, (ii) the 10 year Treasury CMT Rate or (iii) 3-month LIBOR. For the period January 1, 2014 through March 6, 2014 (the redemption date), the coupon rate was 6.275%.

The following table summarizes dividends/distributions accrued during the three months ended March 31, 2014:

	Total Dividend/ Distribution
Common Stock/Operating Partnership Units	$	11,824
Series F Preferred Stock	$	566
Series G Preferred Stock	$	453

Shares of Common Stock and Noncontrolling Interest

During the three months ended March 31, 2014, 131,844 limited partnership interests in the Operating Partnership ("Units") were converted into an equivalent number of shares of common stock, resulting in a reclassification of $1,279 of noncontrolling interest to First Industrial Realty Trust Inc.’s stockholders’ equity.

The following table summarizes the changes in noncontrolling interest for the three months ended March 31, 2014 and 2013:

	March 31, 2014			March 31, 2013
Noncontrolling Interest, Beginning of Period	$	44,369		$	42,274
Net Income (Loss)	104			(220		)
Unit Distributions	(458		)	(400		)
Other Comprehensive (Loss) Income	(41		)	34
Conversion of Units to Common Stock	(1,279		)	—
Reallocation—Additional Paid In Capital	48			2,268
Reallocation—Other Comprehensive Income	5			22
Noncontrolling Interest, End of Period	$	42,748		$	43,978