Duff & Phelps Increases Stake in First Industrial Realty Trust
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
Source: Fool
- Increased Holdings: According to a SEC filing dated January 26, 2026, Duff & Phelps increased its stake in First Industrial Realty Trust by 735,333 shares during Q4 2025, with an estimated transaction value of $41.04 million, indicating ongoing confidence in the REIT.
- Shareholding Status: Following the increase, Duff & Phelps now holds a total of 2,184,408 shares in First Industrial, valued at $125.10 million, representing 1.42% of its 13F U.S. equity holdings, highlighting the REIT's significance in its portfolio.
- Financial Performance: First Industrial experienced negative year-over-year net income growth in Q3 2025, yet revenue has continued to grow, with share prices rising approximately 14% in 2025, although growth has slowed recently, reflecting cautious optimism in the market regarding its future.
- Financing Flexibility: The company successfully refinanced a $425 million loan and another $300 million loan on January 22, 2026, extending maturity dates and allowing for interest-only payments, which provides greater financial flexibility for future investments, especially amid a sluggish real estate market.
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Analyst Views on FR
Wall Street analysts forecast FR stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for FR is 54.88 USD with a low forecast of 51.00 USD and a high forecast of 59.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Analyst Rating
5 Buy
3 Hold
0 Sell
Moderate Buy
Current: 58.030
Low
51.00
Averages
54.88
High
59.00
Current: 58.030
Low
51.00
Averages
54.88
High
59.00
About FR
First Industrial Realty Trust, Inc. is a provider of industrial real estate. The Company owns, operates, develops and acquires logistics properties. The Company, through its fully integrated operating and investing platform, provides facilities and customer service to multinational corporations and regional firms that are essential for their supply chains. Its portfolio and new investments are concentrated in 15 target MSAs with an emphasis on supply-constrained, coastally oriented markets. The Company owns and has under development approximately 69.5 million square feet of industrial space. Its tenants are engaged in a variety of businesses, including e-commerce, third-party logistics and transportation, consumer and other manufactured products, retail and consumer services, food and beverage, lumber and building materials, wholesale goods, health services, governmental and other. Through a wholly owned TRS of the Operating Partnership, it owns an equity interest in a joint venture.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Duff & Phelps Increases Stake in First Industrial Realty Trust
- Increased Holdings: According to a SEC filing dated January 26, 2026, Duff & Phelps increased its stake in First Industrial Realty Trust by 735,333 shares during Q4 2025, with an estimated transaction value of $41.04 million, indicating ongoing confidence in the REIT.
- Shareholding Status: Following the increase, Duff & Phelps now holds a total of 2,184,408 shares in First Industrial, valued at $125.10 million, representing 1.42% of its 13F U.S. equity holdings, highlighting the REIT's significance in its portfolio.
- Financial Performance: First Industrial experienced negative year-over-year net income growth in Q3 2025, yet revenue has continued to grow, with share prices rising approximately 14% in 2025, although growth has slowed recently, reflecting cautious optimism in the market regarding its future.
- Financing Flexibility: The company successfully refinanced a $425 million loan and another $300 million loan on January 22, 2026, extending maturity dates and allowing for interest-only payments, which provides greater financial flexibility for future investments, especially amid a sluggish real estate market.
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Duff & Phelps Acquires Additional Shares in First Industrial Realty Trust
- Share Acquisition: Duff & Phelps increased its stake in First Industrial Realty Trust (FR) by 735,333 shares in Q4 2026, with an estimated trade value of $41.04 million, indicating a sustained interest in the REIT market.
- Holding Status: Following this acquisition, Duff & Phelps' total holdings in FR reached 2,184,408 shares valued at $125.10 million, demonstrating commitment to the sector despite FR not being among its top 15 holdings.
- Market Conditions: The real estate sector is currently challenged by limited supply, slower construction, and declining property purchase demand, yet FR's stock rose approximately 14% in 2025, although growth has recently slowed, reflecting market uncertainties.
- Financial Flexibility: On January 22, 2026, FR announced the successful refinancing of a $425 million loan and another $300 million loan, extending maturity dates and allowing for interest-only payments, thereby providing greater financial flexibility for future investments.
Continue Reading