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StocksMedium•7 April 2026•

1 min read

Land & Buildings Urges First Industrial Shareholders to Oppose Board Re-election

Key Facts

1Land & Buildings sent a letter to First Industrial Realty Trust shareholders urging them to vote against the re-election of the Chairman and another director.

2L&B considers the company's recent actions, such as dividend increases and share repurchases, to be insufficient 'half-measures'.

3The investment firm criticizes consistent underperformance and governance issues within the REIT.

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Land & Buildings Investment Management has intensified its activist campaign against First Industrial Realty Trust (FR) by calling on shareholders to vote against key board members. The investment firm specifically urged opposition to the re-election of Chairman Matt Dominski and director H. Patrick Hackett, Jr. According to L&B, the company's recent strategic moves, including dividend increases and share repurchases, are merely "half-measures" that fail to address core issues. The activist investor highlighted a history of consistent underperformance and significant governance concerns within the real estate investment trust (REIT). L&B argues that the current board is prioritizing the status quo rather than pursuing meaningful changes to maximize shareholder value. This escalation reflects growing tension as shareholders prepare for the upcoming annual meeting and potential leadership shifts.