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

StockNews.com cut shares of FRP (NASDAQ:FRPH) from a buy rating to a hold rating in a research report sent to investors on Saturday.

FRP Price Performance

FRPH stock opened at $28.86 on Friday. FRP has a 12 month low of $26.59 and a 12 month high of $32.50. The firm has a market capitalization of $548.92 million, a PE ratio of 93.10 and a beta of 0.47. The company’s 50 day simple moving average is $28.97 and its 200-day simple moving average is $29.74.

Insiders Place Their Bets

In other news, EVP John D. Milton, Jr. sold 1,500 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $30.40, for a total value of $45,600.00. Following the sale, the executive vice president now directly owns 960 shares in the company, valued at $29,184. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FRP

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its position in shares of FRP by 68.2% in the first quarter. BNP Paribas Financial Markets now owns 3,247 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 1,317 shares during the period. Salem Investment Counselors Inc. boosted its stake in FRP by 98.9% in the 2nd quarter. Salem Investment Counselors Inc. now owns 110,734 shares of the financial services provider’s stock worth $3,158,000 after buying an additional 55,067 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in FRP by 100.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,218 shares of the financial services provider’s stock valued at $263,000 after buying an additional 4,609 shares during the period. Vanguard Group Inc. increased its stake in shares of FRP by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 325,563 shares of the financial services provider’s stock valued at $19,990,000 after acquiring an additional 6,741 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of FRP during the 1st quarter valued at about $248,000. 45.42% of the stock is currently owned by hedge funds and other 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.