FR — what changed in the latest 10-Q
A section-by-section comparison of FR's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-22 vs the prior 10-Q · 2026-07-23
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +15 | −14 | ~76 | 56 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 4 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-22
•We commenced leases totaling approximately 7.4 million square feet of GLA, including 0.9 million square feet of newly developed industrial space, a 0.7 million square-foot property in our Central Pennsylvania market and a 0.2 million square-foot property in our Southern California market.
For the three months ended September 30, 2025, we recognized $9.5 million of gain on sale of real estate related to the sale of one industrial property totaling approximately 0.06 million square feet of GLA and a land site.
Investing Activities: Cash used in investing activities decreased $126.3 million, primarily due to the following:
•increase of $131.3 million in net proceeds received from the disposition of real estate in 2026 as compared to 2025; and
•increase of $5.9 million in net cash flows from our Joint Venture, reflecting capital contributions made during the nine months ended September 30, 2025 as compared to a distribution received during the nine months ended September 30, 2026; offset by:
Text removed vs the prior filing · source: 10-Q · 2026-07-23
•We leased over 5.0 million square feet of GLA, including 0.7 million square feet of newly developed space and fully leased a previously vacant 0.7 million square foot building.
For the three months ended June 30, 2026, we recognized $16.6 million of gain on sale of real estate related to the sale of four industrial properties totaling approximately 0.3 million square feet of GLA. For the three months ended June 30, 2025, we recognized $1.1 million of gain on sale of real e…
◦decrease in tenant accounts receivable, prepaid expenses and other assets due to timing of cash receipts.
Investing Activities: Cash used in investing activities decreased $250.0 million, primarily due to the following:
•increase of $143.6 million in net proceeds received from the disposition of real estate in 2026 as compared to 2025;
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice