FRP (NASDAQ:FRPH) Upgraded to “Buy” at StockNews.com

FRP (NASDAQ:FRPH – Get a Free Report) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

FRP stock performance

NASDAQ FRPH opened at $29.64 on Friday. FRP has a 52-week low of $26.59 and a 52-week high of $32.50. The company has a fifty day moving average of $28.94 and a 200 day moving average of $29.73. The company has a market cap of $563.75 million, a P/E ratio of 95.61 and a beta of 0.47.

Indoor activity

In related news, EVP John D. Milton, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 960 shares in the company, valued at approximately $29,184. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. In related news, Chairman David H. Devilliers, Jr. sold 2,280 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $29.53, for a total transaction of $67,328.40. Following the transaction, the chairman now owns 51,003 shares of the company’s stock, valued at approximately $1,506,118.59. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Also, EVP John D. Milton, Jr. sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $30.40, for a total transaction of $45,600.00. Following the completion of the sale, the executive vice president now directly owns 960 shares of the company’s stock, valued at $29,184. The disclosure for this sale can be found here. Corporate insiders own 22.80% of the company’s shares.

Institutional inputs and outputs

Institutional investors and hedge funds have recently modified their holdings of the stock. Hyman Charles D boosted its holdings in FRP by 100.0% during the second quarter. Hyman Charles D now owns 1,937,268 shares of the financial services provider’s stock valued at $55,251,000 after acquiring an additional 968,822 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of FRP by 101.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,096,293 shares of the financial services provider’s stock worth $31,266,000 after buying an additional 553,265 shares during the period. Vanguard Group Inc. grew its holdings in shares of FRP by 2.1% in the first quarter. Vanguard Group Inc. now owns 325,563 shares of the financial services provider’s stock worth $19,990,000 after buying an additional 6,741 shares during the last quarter. LB Partners LLC boosted its stake in FRP by 100.0% in the second quarter. LB Partners LLC now owns 125,802 shares of the financial services provider’s stock worth $3,588,000 after purchasing an additional 62,901 shares during the period. Finally, Salem Investment Counselors Inc. boosted its holdings in FRP by 98.9% during the second quarter. Salem Investment Counselors Inc. now owns 110,734 shares of the financial services provider’s stock valued at $3,158,000 after purchasing an additional 55,067 shares in the last quarter. 45.42% of shares are owned by institutional investors.

About FRP

(Get a free report)

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

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