Land & Buildings Investment Management, LLC: FIRST INDL RLTY TR INC (FR): Quarterly 13F Position History
As of Q1 2026, Land & Buildings Investment Management, LLC reported 863,925 shares of FIRST INDL RLTY TR INC (FR), worth $50.0M and representing 8.5% of its 13F equity book. Quarter-over-quarter share count change: 48,592 (-5.3%) . The position first appeared in Q1 2020 and has been disclosed across 25 13F-HR filings in Pactolio's tracked window.
- 863,925Shares Held (Latest Filing)
- $50.0MReported Market Value (Latest Filing)
- 8.5%Portfolio Weight (% of 13F Equity Book)
- 48,592Quarter-over-Quarter Share Change
- -$2.3MQuarter-over-Quarter Value Change
- 1,193,379Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 25 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 863,925 | 48,592 | -5.3% | $50.0M | 8.5% | $57.9 |
| Q4 2025 | 912,517 | +201,996 | +28.4% | $52.3M | 8.7% | $57.3 |
| Q3 2025 | 710,521 | 55,390 | -7.2% | $36.6M | 6.7% | $51.5 |
| Q2 2025 | 765,911 | +121,720 | +18.9% | $36.9M | 7.4% | $48.1 |
| Q1 2025 | 644,191 | 52,250 | -7.5% | $34.8M | 7.4% | $54.0 |
| Q4 2024 | 696,441 | 127,521 | -15.5% | $34.9M | 7.1% | $50.1 |
| Q3 2024 | 823,962 | +15,750 | +1.9% | $46.1M | 9.4% | $56.0 |
| Q2 2024 | 808,212 | +581,472 | +256.4% | $38.4M | 9.0% | $47.5 |
| Q1 2024 | 226,740 | +226,740 | — | $11.9M | 2.6% | $52.5 |
| Q4 2023 | 0 | 0 | — | $0 | 0.0% | — |
| Q3 2023 | 0 | 0 | — | $0 | 0.0% | — |
| Q2 2023 | 0 | 0 | — | $0 | 0.0% | — |
| Q1 2023 | 0 | 0 | — | $0 | 0.0% | — |
| Q4 2022 | 0 | 0 | — | $0 | 0.0% | — |
| Q3 2022 | 0 | 0 | — | $0 | 0.0% | — |
| Q2 2022 | 0 | 0 | — | $0 | 0.0% | — |
| Q1 2022 | 0 | 0 | — | $0 | 0.0% | — |
| Q4 2021 | 0 | 554,364 | -100.0% | $0 | 0.0% | — |
| Q3 2021 | 554,364 | 639,015 | -53.5% | $28.9M | 4.8% | $52.1 |
| Q2 2021 | 1,193,379 | +597,230 | +100.2% | $62.3M | 11.7% | $52.2 |
| Q1 2021 | 596,149 | 0 | — | $27.3M | 5.8% | $45.8 |
| Q4 2020 | 596,149 | 98,954 | -14.2% | $25.1M | 5.5% | $42.1 |
| Q3 2020 | 695,103 | +147,040 | +26.8% | $27.7M | 5.1% | $39.8 |
| Q2 2020 | 548,063 | +429,663 | +362.9% | $21.1M | 5.2% | $38.4 |
| Q1 2020 | 118,400 | — | — | $3.9M | 1.6% | $33.2 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did Land & Buildings Investment Management, LLC first disclose a FR position in 13F-HR filings?
Land & Buildings Investment Management, LLC first reported FIRST INDL RLTY TR INC (FR) on its 13F-HR filing for the period ending 2020-03-31 (Q1 2020). The position has appeared on 25 reported quarters within Pactolio's tracked window.
What was Land & Buildings Investment Management, LLC's most recent quarter-over-quarter share-count change in FR?
Between Q4 2025 and Q1 2026, Land & Buildings Investment Management, LLC reduced its FR position by 48,592 shares (-5.3%), leaving 863,925 shares at a market value of $50.0M.
Does the implied price-per-share represent Land & Buildings Investment Management, LLC's cost basis in FR?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.