First Trust Intermediate Duration Preferred & Income Fund Common Shares of Beneficial Interest (FPF)

FairStock Score: 42/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Graham-style investor, I start with what this is: a $1.1 billion closed-end fund holding preferred and income securities, including below-investment-grade credit. That is not a business with a durable moat; it is a pool of credit and rate risk managed by First Trust and Stonebridge. The provided figures are mixed. At the 2026-10-13 close of $15.74, the FairStock calculation shows a P/E of 6.40 and a Graham Number of $33.29, implying a 52.72% margin of safety. The 10.48% dividend yield is attention-grabbing, and the price is near the low end of its 52-week range of $15.55-$19.36. But I do not confuse a high yield with safety. The Piotroski F-Score is just 1/9 and Altman Z-Score is 1.02, both warning signs in the data. The FairStock Score is 42/100. No P/B, ROE, ROCE, D/E, revenue growth, or profit growth is available, so I cannot verify operating quality or compounding. The Lynch category is none because there are only 0 years of filed results, against a three-year requirement. That lack of filed history matters. On valuation alone, the fund screens cheap: price is far below the Graham Number and trades at a single-digit earnings multiple. But cheapness can be a value trap when credit quality is uncertain and the distribution may reflect risk rather than dependable income. I would want evidence that the payout is covered and that the portfolio can withstand credit stress. Until then, this looks like a speculative income vehicle, not a Buffett-style bargain.

In plain English: It is a fund that owns preferred shares and bonds, including riskier high-yield ones. The numbers are mixed: it looks cheap on some value measures and pays a very high income, but financial-strength signals are weak and the fund has little filed history in this data. The price sits near the bottom of its yearly range, which can mean either a bargain or trouble.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer