FRP (NASDAQ:FRPH) Downgraded to Hold at StockNews.com

StockNews.com cut shares of FRP (NASDAQ:FRPH) from a buy rating to a hold rating in a report published on Tuesday.

FRP Stock Up 0.2 %

FRPH opened at $30.43 on Tuesday. The company has a 50 day moving average of $30.12 and a two-hundred day moving average of $29.56. FRP has a 52-week low of $26.23 and a 52-week high of $32.50. The company has a market cap of $578.17 million, a P/E ratio of 110.65 and a beta of 0.57.

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

Hedge Funds Weigh In On FRP

A number of institutional investors and hedge funds have recently bought and sold shares of FRPH. LB Partners LLC purchased a new stake in shares of FRP during the fourth quarter valued at approximately $3,955,000. Russell Investments Group Ltd. boosted its stake in shares of FRP by 17,245.5% in the fourth quarter. Russell Investments Group Ltd. now owns 13,356 shares of the financial services provider’s stock valued at $840,000 after purchasing an additional 13,279 shares during the period. Dimensional Fund Advisors LP grew its holdings in FRP by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 534,826 shares of the financial services provider’s stock valued at $33,630,000 after purchasing an additional 10,860 shares in the last quarter. Sprott Inc. increased its stake in 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 buying an additional 10,000 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in FRP in the 3rd quarter worth $328,000. Hedge funds and other institutional investors own 45.42% of the company’s stock.

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.