FRP (NASDAQ:FRPH) Cut to “Hold” at StockNews.com

FRP (NASDAQ:FRPH) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

FRP Price Performance

Shares of FRP stock opened at $30.13 on Tuesday. FRP has a fifty-two week low of $26.23 and a fifty-two week high of $32.50. The firm has a fifty day moving average price of $30.08 and a two-hundred day moving average price of $29.52. The company has a market cap of $572.47 million, a PE ratio of 109.56 and a beta of 0.57.

FRP (NASDAQ:FRPH) last issued its quarterly earnings results on Wednesday, March 6th. The financial services provider reported $0.15 earnings per share for the quarter. FRP had a net margin of 12.77% and a return on equity of 1.19%. The firm had revenue of $10.11 million during the quarter.

Hedge Funds Weigh In On FRP

A number of hedge funds and other institutional investors have recently made changes to their positions in FRPH. LB Partners LLC bought a new position in shares of FRP during the 4th quarter worth about $3,955,000. Russell Investments Group Ltd. lifted its holdings in shares of FRP by 17,245.5% during the 4th quarter. Russell Investments Group Ltd. now owns 13,356 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 13,279 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of FRP by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 534,826 shares of the financial services provider’s stock worth $33,630,000 after acquiring an additional 10,860 shares during the period. Sprott Inc. lifted its holdings in shares of FRP by 8.0% during the 3rd quarter. Sprott Inc. now owns 135,000 shares of the financial services provider’s stock worth $7,286,000 after acquiring an additional 10,000 shares during the period. Finally, WINTON GROUP Ltd bought a new position in shares of FRP during the 3rd quarter worth about $328,000. 45.42% of the stock is owned by institutional investors.

About FRP

FRP Holdings, Inc engages in the real estate business in the United States. It operates through four segments: Industrial and Commercial, Mining Royalty Lands, Development, and Multifamily. The Industrial and Commercial segment owns, leases, and manages commercial properties. The Mining Royalty Lands segment leases and manages mining royalties owned by the company primarily in Florida, Georgia, and Virginia.