Third Avenue Management LLC Reduces Stock Position in FRP Holdings, Inc. $FRPH

Third Avenue Management LLC trimmed its position in FRP Holdings, Inc. (NASDAQ:FRPH) by 16.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,440 shares of the financial services provider’s stock after selling 41,512 shares during the period. Third Avenue Management LLC owned about 1.11% of FRP worth $5,686,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Epacria Capital Partners LLC lifted its stake in shares of FRP by 2.8% during the second quarter. Epacria Capital Partners LLC now owns 50,099 shares of the financial services provider’s stock valued at $1,347,000 after buying an additional 1,345 shares during the period. American Century Companies Inc. lifted its stake in shares of FRP by 24.6% during the 2nd quarter. American Century Companies Inc. now owns 21,888 shares of the financial services provider’s stock worth $589,000 after purchasing an additional 4,319 shares during the period. Rhumbline Advisers lifted its stake in shares of FRP by 21.4% during the 2nd quarter. Rhumbline Advisers now owns 23,338 shares of the financial services provider’s stock worth $628,000 after purchasing an additional 4,117 shares during the period. Franklin Resources Inc. boosted its holdings in shares of FRP by 27.2% during the second quarter. Franklin Resources Inc. now owns 9,499 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 2,034 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of FRP by 4.6% in the second quarter. Legal & General Group Plc now owns 11,715 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 510 shares during the period. 45.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FRPH has been the topic of a number of research analyst reports. Wall Street Zen lowered FRP from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “sell (d+)” rating on shares of FRP in a report on Monday, November 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

FRP Trading Up 1.0%

NASDAQ:FRPH opened at $23.30 on Monday. FRP Holdings, Inc. has a twelve month low of $21.68 and a twelve month high of $32.33. The firm has a market capitalization of $445.31 million, a price-to-earnings ratio of 83.20 and a beta of 0.62. The firm’s fifty day simple moving average is $24.02 and its 200 day simple moving average is $25.63.

FRP (NASDAQ:FRPH) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.03 EPS for the quarter. FRP had a return on equity of 1.15% and a net margin of 12.59%.The company had revenue of $10.78 million for the quarter.

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.