FRP Holdings, Inc.

FRP Holdings, Inc. (FRPH) Market Cap

FRP Holdings, Inc. has a market capitalization of $451.3M.

Price: $23.54

-0.05 (-0.21%)

Market Cap: 451.27M

NASDAQ · time unavailable

CEO: John D. Baker

Sector: Real Estate

Industry: Real Estate - Services

IPO Date: 1986-07-02

Website: https://www.frpdev.com

FRP Holdings, Inc. (FRPH) - Company Information

Market Cap: 451.27M|Sector: Real Estate

Company Profile

FRP Holdings, Inc. engages in the real estate businesses in the United States. The company operates through four segments: Asset Management, Mining Royalty Lands, Development, and Stabilized Joint Venture. The Asset Management segment owns, leases, and manages commercial properties. The Mining Royalty Lands segment owns various properties comprising approximately 15,000 acres under lease for mining rents or royalties primarily in Florida, Georgia, and Virginia. This segment also owns an additional 107 acres of investment property in Brooksville, Florida. The Development segment owns and monitors the use of parcels of land that are in various stages of development. The Stabilized Joint Venture segment owns, leases, and manages a 305-unit residential apartment building with approximately 14,430 square feet of first floor retail space; 264-unit residential apartment building with 6,758 square feet of retail space; and 294-unit garden-style apartment community located in Henrico County, Virginia that consists of 19 three-story apartment buildings containing 273,940 rentable square feet. FRP Holdings, Inc. was incorporated in 2014 and is based in Jacksonville, Florida.

Analyst Sentiment

50%
Hold

From 1 Active Polls

Consensus Target Matrix

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Price & Moving Averages

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🎯 Wall Street Analyst Intelligence Report

1-Year structural target targets, chart projections, and sentiment maps.

Average 1Y Target
$24.72
▲ +5.00% Upside
Low Target
$17.66
-25% Risk
Median Target
$24.01
2% Mid
High Target
$29.42
25% Max

Consensus Trend Projection

Trailing closures vs. 12-month metrics map.

Analyst Vote Distribution

Aggregate institutional coverage sentiment weights.

Sentiment volume allocation data unavailable.

📊 Historical Valuation Multiples

Real-time Trailing Twelve Month (TTM) momentum side-by-side with discrete quarterly metrics.

Fiscal QuarterTTMQ1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024
Period EndingTrailing 12MMar 31, 2026Dec 31, 2025Sep 30, 2025Jun 30, 2025Mar 31, 2025Dec 31, 2024Sep 30, 2024Jun 30, 2024
Market Cap ($M)451418435462509541571564530
Enterprise Value ($M)547514522512537577602598552
Price to Earnings Ratio (P/E)481.78-152.04286.30174.30220.3779.1485.08103.5964.86
Price/Earnings-to-Growth Ratio (PEG)220.3541.7569.5719.11
Price to Sales Ratio (P/S)10.4639.4439.8742.8446.9652.5254.2653.0450.62
Price to Book Ratio (P/B)1.050.981.021.081.191.271.351.341.27
Price to Free Cash Flow Ratio (P/FCF)12.9543.2151.6557.1258.77120.2175.3789.2143.55
Enterprise Value to Sales (EV/Sales)48.5047.8647.5249.4655.9557.1356.2552.70
Enterprise Value to EBITDA (EV/EBITDA)39.20211.72146.73142.51122.45103.51115.72115.5186.03
Debt to Equity Ratio6.880.480.450.430.420.420.420.420.43

FRPH Growth Runway Model

Standard long term linear growth fade

Multi-Stage Discounted Cash Flow Sandbox

Market Price$23.54
Intrinsic Value$23.51
Market Alignment
Overvalued by 0.1%relative to calculated intrinsic value
9.00%
Exp: 0%0%
i

Growth runway slowdown

This value provides a time window for the growth rate to decline beyond Stage 1 toward the terminal rate. Longer windows are most useful for companies with high growth starting conditions or strong competitive advantages. This option stretches out the growth rate slowdown across 5, 10, or 15-year steps. A high-growth starting condition (exceeding a 25% initial growth rate) automatically applies a curve decay to simulate realistic, rapid market saturation.
i

Terminal growth rate

With long-term inflation between 3-5%, revenue must grow by that baseline to maintain flat real-world market share. This value sets the permanent terminal growth rate to factor into the valuation beyond the growth slowdown runway toward maturity.

3-Stage Financial Runway Horizon

🧠 Perpetuity Horizon Engine (Stage 3: Post-2035)

Terminal FCF Base$0.03B
Perpetuity TV Value$0.57B
Discounted TV (PV)$0.24B
TV Weighting %57.4%
⚠️
Financial Model Disclaimer & Risk Disclosure: This interactive scenario simulator is an educational sandbox provided strictly for informational and analytical research purposes. Core historical financial statements and consensus estimates are sourced directly via Financial Modeling Prep (FMP). All downstream outputs are entirely deterministic, hypothetical projections generated by combining automated mathematical formulas (including linear interpolation and Gaussian bell-curve decay models) with user-selected variables and third-party financial data inputs. Users assume all liability for trading decisions executed based on these sandbox calculations.

📘 Full Research Report

ℹ️

AI-Generated Research: This report is for informational purposes only.

📘 FRP HOLDINGS INC (FRPH) — Investment Overview

🧩 Business Model Overview

I can produce a high-conviction, moat-focused research summary, but I need one clarification to avoid factual errors: FRP Holdings’ core operating business (what it sells, to whom, and through what value chain). Please paste either (a) the “Business” section from the latest 10-K/10-Q, or (b) a brief description of FRPH’s main segment(s) and major customer types. Then I will map the value chain and customer stickiness precisely.

💰 Revenue Streams & Monetisation Model

Once you confirm the business line(s), I will break down revenue into recurring vs. transactional (e.g., contracts/subscriptions vs. project/service work) and identify the primary margin drivers (pricing power, labor/material pass-through, utilization, scale effects, or mix).

🧠 Competitive Advantages & Market Positioning

To identify an investment-relevant moat with high confidence, I need to know FRPH’s industry context (software/financials/healthcare/energy-materials/retail/industrial services). After you provide the business description, I will:

  • Pinpoint the specific moat type (Switching Costs, Network Effects, Cost Advantage/low-cost input, or Intangible/Regulatory barriers).
  • Name 2–3 direct competitors and clearly contrast FRPH’s focus versus those rivals.

🚀 Multi-Year Growth Drivers

With the business confirmed, I will outline a 5–10 year TAM and secular trend view, including unit economics and adoption/penetration drivers (e.g., contract backlog expansion, geographic expansion, regulatory tailwinds, or demand from end markets).

⚠ Risk Factors to Monitor

I will tailor risks to FRPH’s structure—commonly including regulatory risk, customer concentration, utilization/cycle risk, technological substitution, competitive pricing pressure, and capital intensity—based on the actual operating model and cost structure disclosed in filings.

📊 Valuation & Market View

I will avoid point estimates and time-sensitive metrics, but I can still discuss how markets typically value the relevant sector (e.g., EV/EBITDA vs. P/S; DCF drivers; working-capital sensitivity) and what operational metrics move the multiple.

🔍 Investment Takeaway

Send the business summary (or paste the filing “Business” section), and I will deliver the full institutional research overview in the exact format you requested—centered on evergreen moat logic and competitive positioning.


⚠ AI-generated — informational only. Validate using filings before investing.

📰 Market News & Coverage

15 Stories Available

Real-time institutional reporting and market updates for FRPH.

seekingalpha.com2026-05-13

FRP Holdings, Inc. (FRPH) Q1 2026 Earnings Call Transcript

FRP Holdings, Inc. (FRPH) Q1 2026 Earnings Call Transcript

accessnewswire.com2026-05-12

FRP Holdings, Inc. Reports Fiscal 2026 First Quarter Results

Mining Royalties Volume Up 7.9% and Revenue Per Ton Up 6.5% Multifamily and Industrial Occupancy Pressured; Re-Leasing the Near-Term Priority JACKSONVILLE, FL / ACCESS Newswire / May 12, 2026 / FRP Holdings, Inc. (NASDAQ:FRPH), a full-service real estate investment and development company with four distinct business segments including Multifamily, Industrial and Commercial, Development, and Mining and Royalty Lands, today reported financial results for the quarter ended March 31, 2026. Key results for the quarter ended 2026 include (compared with the first quarter 2025): Q1 2026 Financial Highlights: Net loss of $0.7 million or $(0.04) per share, versus net income of $1.7 million or $0.09 per share Pro rata NOI of $8.9 million versus $9.4 million, down 5% Multifamily portfolio occupancy of 92.1% across 1,827 units versus 94.0% Industrial & Commercial occupancy of 69.9% ex-Chelsea, down from 85.2% Mining royalties: volume up 7.9%, revenue per ton up 6.5% Closed Altman Logistics acquisition October 21, 2025; first full quarter of platform integration "Our first quarter results reflect the headwinds we flagged exiting last year, including occupancy pressure across our DC multifamily assets, industrial vacancies in Maryland that we are working to re-lease, and elevated G&A from the integration costs related to the Altman acquisition," said John Baker III, CEO of FRP Holdings.

seekingalpha.com2026-05-12

FRP Holdings, Inc. (FRPH) Shareholder/Analyst Call Prepared Remarks Transcript

FRP Holdings, Inc. (FRPH) Shareholder/Analyst Call Prepared Remarks Transcript

accessnewswire.com2026-05-06

FRP Holdings, Inc. Announces Release Date for Its 2026 First Quarter Earnings and Details for the Earnings Conference Call

JACKSONVILLE, FL / ACCESS Newswire / May 6, 2026 / FRP Holdings, Inc. (NASDAQ:FRPH), a full-service real estate investment and development company with four distinct business segments including Multifamily, Industrial and Commercial, Development, and Mining and Royalty Lands, anticipates issuing its first quarter earnings results on Tuesday, May 12, 2026 after the market close. The Company will host a conference call on Wednesday, May 13, 2026, at 9:00 a.m.

defenseworld.net2026-04-21

FRP (NASDAQ:FRPH) & City Developments (OTCMKTS:CDEVY) Head-To-Head Contrast

FRP (NASDAQ: FRPH - Get Free Report) and City Developments (OTCMKTS:CDEVY - Get Free Report) are both finance companies, but which is the superior business? We will contrast the two businesses based on the strength of their valuation, profitability, dividends, analyst recommendations, earnings, institutional ownership and risk. Profitability This table compares FRP and City Developments' net

seekingalpha.com2026-04-10

FRP Holdings, Inc. (FRPH) Q4 2025 Earnings Call Transcript

FRP Holdings, Inc. (FRPH) Q4 2025 Earnings Call Transcript

accessnewswire.com2026-04-10

FRP Holdings, Inc. Reports Fiscal 2025 Fourth Quarter Results

JACKSONVILLE, FL / ACCESS Newswire / April 10, 2026 / FRP Holdings, Inc. (NASDAQ:FRPH), a full-service real estate investment and development company with four distinct business segments including Multifamily, Industrial and Commercial, Development, and Mining and Royalty Lands, today reported financial results for the quarter and full year ended December 31, 2025. Fourth Quarter Highlights 77% decrease in Net Income ($0.4 million vs $1.7 million) due to expenses related to the Altman Logistics platform acquisition ($0.5 million), increased G&A due to the Altman new hires, under performance at Dock and Maren, industrial vacancies and added depreciation at Chelsea partially offset by higher mining royalties and improved results in Equity in Loss of Joint Ventures.

accessnewswire.com2026-04-08

FRP Holdings, Inc. Announces Release Date for Its 2025 Fourth Quarter and Full Year Earnings and Details for the Earnings Conference Call

JACKSONVILLE, FL / ACCESS Newswire / April 8, 2026 / On March 31, 2026, FRP Holdings, Inc. (NASDAQ:FRPH) announced that it had filed a Form 12b-25, Notification of Late Filing, with the Securities and Exchange Commission in connection with its Annual Report on Form 10-K for the fiscal year ended December 31, 2025. The Company and its independent auditors needed the additional time to complete the year end audit process and the delay in filing was not the result of any disagreements with the Company's independent auditors on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.

accessnewswire.com2026-03-31

FRP Holdings, Inc. Files Form 12b-25 Notification of Late Filing

JACKSONVILLE, FL / ACCESS Newswire / March 31, 2026 / FRP Holdings, Inc. (NASDAQ:FRPH), today announced that it has filed a Form 12b-25, Notification of Late Filing, with the Securities and Exchange Commission in connection with its Annual Report on Form 10-K for the fiscal year ended December 31, 2025. The Company requires additional time to finalize its consolidated financial statements and related disclosures, and the auditor requires additional time to complete the audit of the Company's consolidated financial statements as of and for the year ended December 31, 2025.

accessnewswire.com2026-03-03

FRP Holdings, Inc. Announces Extension of the Release Date for Its 2025 Fourth Quarter and Full Year Earnings

JACKSONVILLE, FL / ACCESS Newswire / March 3, 2026 / RP Holdings, Inc. (NASDAQ:FRPH) anticipated issuing its fourth quarter earnings results on Wednesday, March 4, 2026. Following the Altman acquisition in the fourth quarter, and the resulting additional workload on our year end audit; the audit is not yet substantially complete.

accessnewswire.com2026-02-26

FRP Holdings, Inc. Announces Release Date for its 2025 Fourth Quarter Earnings and Details for the Earnings Conference Call

JACKSONVILLE, FL / ACCESS Newswire / February 26, 2026 / FRP Holdings, Inc. (NASDAQ:FRPH) anticipates issuing its fourth quarter earnings results on Wednesday, March 4, 2026. The Company will host a conference call on Thursday, March 5, 2026, at 9:00 a.m.

defenseworld.net2026-01-06

FRP (NASDAQ:FRPH) COO David Devilliers III Sells 4,589 Shares of Stock

FRP Holdings, Inc. (NASDAQ: FRPH - Get Free Report) COO David Devilliers III sold 4,589 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $22.75, for a total transaction of $104,399.75. Following the sale, the chief operating officer directly owned 51,570 shares of

defenseworld.net2025-12-23

FRP (NASDAQ:FRPH) versus Safestore (OTCMKTS:SFSHF) Head to Head Analysis

Safestore (OTCMKTS:SFSHF - Get Free Report) and FRP (NASDAQ: FRPH - Get Free Report) are both finance companies, but which is the better investment? We will contrast the two companies based on the strength of their analyst recommendations, institutional ownership, earnings, profitability, valuation, dividends and risk. Profitability This table compares Safestore and FRP's net margins, return

seekingalpha.com2025-11-07

FRP Holdings, Inc. (FRPH) Q3 2025 Earnings Call Transcript

FRP Holdings, Inc. ( FRPH ) Q3 2025 Earnings Call November 6, 2025 9:00 AM EST Company Participants Matthew McNulty - CFO & Treasurer David deVilliers - COO & President Mark Levy John Baker - CEO & Director Conference Call Participants J. Goins - Salem Investment Counselors, Inc. Presentation Operator Good day, everyone, and welcome to today's FRP Holdings Inc. 2025 3Q Earnings Call.

accessnewswire.com2025-11-05

FRP Holdings, Inc. Reports Fiscal 2025 Third Quarter Results

JACKSONVILLE, FL / ACCESS Newswire / November 5, 2025 / FRP Holdings, Inc. (NASDAQ:FRPH), a full-service real estate investment and development company with four distinct business segments including Multifamily, Industrial and Commercial Development, and Mining and Royalty Lands, today reported financial results for the quarter ended September 30, 2025. Third Quarter Highlights and Recent Developments 51% decrease in Net Income ($0.7 million vs $1.4 million) due largely to expenses related to the Altman Logistics platform acquisition ($1.3 million) partially offset by higher mining royalties and improved results in Equity in Loss of Joint Ventures (excluding the Altman acquisition expenses, adjusted Net Income was up $0.3 million).

📊 AI Financial Analysis

Powered by StockMarketInfo
Earnings Data: Q Ending 2026-03-31

"FRPH reported Q1’26 revenue of $10.59M and net loss of $(0.69)M (EPS: $(0.036)), versus Q1’25 revenue of $10.31M and net income of $1.71M (EPS: $0.09). On a YoY basis, revenue grew +2.8%, but net income declined from +$1.71M to -$0.69M (a deterioration of -$2.40M; net income down ~-140%). QoQ, revenue fell from $10.91M in Q4’25 to $10.59M (about -2.9%), and net income swung from +$0.38M in Q4’25 to -$0.69M. Profitability has deteriorated sharply. Gross margin slipped to ~16.6% in Q1’26 from ~16.0% in Q4’25 but is far below the very high Q2–Q3’25 range (low-to-high 30–40%+ and ~91% in Q1’25), while operating margin collapsed to ~4.8% from ~15.4% in Q4’25. Net margin turned negative at ~-6.5%. Cash is still substantial ($107.9M cash), and the balance sheet remains liquid (current ratio ~32x in Q1’26). However, operating cash flow is shown as $0 in Q1’26, while investing/financing flows drove the quarter’s cash change. Total shareholder returns are pressured by price weakness: the stock is down -17.0% over 1 year, with no dividend or buyback support indicated in the quarter data. Overall, the valuation may already reflect risk, but the earnings turnaround risk remains high."

Revenue Growth

Fair

YoY revenue rose +2.8% (Q1’25 $10.31M → Q1’26 $10.59M) but QoQ revenue declined ~-2.9% (Q4’25 $10.92M → Q1’26 $10.59M). Trend is mildly positive YoY but choppy sequentially.

Profitability

Neutral

Net income deteriorated from +$1.71M (Q1’25) to -$0.69M (Q1’26), with net margin turning from +16.6% to -6.5%. Operating margin fell to ~4.8% from ~15.4% in Q4’25.

Cash Flow Quality

Neutral

Q1’26 shows net income -$0.69M and operating cash flow reported as $0, limiting confidence in earnings quality this quarter. Cash balance remains high ($107.9M), but free cash flow is reported as $0 as well.

Leverage & Balance Sheet

Positive

Balance sheet liquidity is strong (current ratio ~32x). Equity is stable (total stockholders’ equity ~$428M) and net debt remains manageable (~$96M net debt).

Shareholder Returns

Neutral

Stock performance is negative: 1Y change -17.0% and no dividend yield shown. Buybacks/dividends are not evidenced as a support in the latest quarter.

Analyst Sentiment & Valuation

Neutral

No price target provided. Valuation ratios indicate high implied valuation multiples (price-to-sales ~39x) and negative earnings-based metrics (P/E not meaningful due to losses).

Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.

Fundamentals Overview

Loading fundamentals overview...

FRPH’s Q1 2026 shows a platform transitioning from “build” to “execution,” with industrial leasing activity materially improving versus last year. NOI was ~$8.9M and FFO ~$3.6M ($0.19/share), but commercial/industrial segment NOI softened to ~$758k as occupancy sits at ~47.5% versus ~85% last year, reflecting lease rollover timing and slower tenant decisions. Multifamily was also below expectations: D.C. economic occupancy in the high 80% range faced ongoing supply from Vermeer and The Stacks, alongside higher operating costs and ground-floor retail softness, while South Carolina held in the low 90s. Management expects 2026 NOI to stay relatively stable (~$37M range) despite near-term FFO pressure from lease-up timing, elevated platform costs, and higher interest expense. The key upside catalyst is converting early industrial LOIs (53,000 sq ft) and stabilizing the Altman-backed pipeline toward ~+$30M incremental stabilized NOI over time, supported by process refinements and improved capital/market conditions.

AI IconGrowth Catalysts

  • Industrial lease-up execution: 53,000 sq ft signed/LOI through Q1 translating to ~$1.0M annualized NOI as leases commence
  • Industrial development pipeline stabilization post-Altman: ~$441M total project costs with expected stabilized incremental NOI of ~ $30M over time
  • Mining volume and pricing momentum: mining NOI ~$3.8M, up $498k (+15% YoY), second consecutive quarter of double-digit underlying growth
  • Multifamily D.C. supply overhang expected to clear: localized competition pressure viewed as clearing rather than broad platform deterioration

Business Development

  • Altman industrial acquisition (completed late Q4 2025): added ~1.6M sq ft industrial development pipeline; expanded Florida and New Jersey footprint

AI IconFinancial Highlights

  • NOI of ~$8.9M; FFO of ~$3.6M (=$0.19/share) for Q1 2026
  • Commercial & Industrial: segment NOI ~$758k vs ~$1.139M in Q1 last year, driven by occupancy near 47.5% vs ~85% last year due to lease rollover timing, slower tenant decisions, and addition of the Chelsea building
  • Commercial & Industrial available for lease-up: ~423,000 sq ft representing ~$3.3M incremental annual NOI at stabilization
  • Multifamily: NOI ~$4.1M; Q1 below expectations attributed to lower occupancy/economic occupancy in Washington, D.C., higher operating costs, and softness in ground floor retail
  • Multifamily market reads: South Carolina economic occupancy low 90% range; Washington, D.C. economic occupancy high 80% range impacted by continued supply from Vermeer and The Stacks

AI IconCapital Funding

  • Liquidity: ~$130M total between cash and line availability at quarter-end
  • No explicit buyback/debt level changes disclosed in the transcript
  • Pipeline scale: industrial development opportunity framed around ~$441M total project costs; management emphasized disciplined pacing and balance sheet flexibility

AI IconStrategy & Ops

  • Leasing and operating process refinements to accelerate decision-making, improve market intelligence, and align leasing/development/asset management teams
  • Execution emphasis for remainder of 2026: lease vacancies, stabilize development pipeline, and convert embedded NOI into recurring cash flow
  • Maryland leasing recalibration: adjusted rent positioning where appropriate, expanded brokerage engagement, and added leasing resources after the Altman transaction
  • Capital allocation framework: stabilize current development pipeline; selectively advance new development in high-barrier infill markets; expand capital relationships while maintaining balance sheet flexibility
  • Revenue diversification: selective build-to-suit opportunities, targeted value-add acquisitions, and institutional capital partnerships (details not quantified in transcript)

AI IconMarket Outlook

  • Full-year 2026 outlook: NOI expected relatively stable at ~ $37M range; near-term FFO pressured by lease-up timing, elevated platform costs, and higher interest expense
  • 2026 G&A expected at ~$15M to $16M
  • Market supply backdrop: development starts declined materially during 2025 and into Q1 2026; company cited “lowest level of starts since 2010,” and limited future supply due to entitlement constraints/land scarcity

AI IconRisks & Headwinds

  • Commercial & Industrial occupancy suppression: ~47.5% occupancy vs ~85% last year due to lease rollover timing, slower tenant decision cycles, and building additions (Chelsea)
  • Multifamily D.C. competition: continued supply pressure specifically from Vermeer and The Stacks impacting occupancy and concessions across Dock 79, Maren, and Verge
  • Near-term earnings pressure: elevated platform costs, higher interest expense, and lease-up timing expected to pressure FFO in 2026
  • FFO variability tied to stabilization/development conversion, with execution risk if lease-up and stabilization lag

Q&A: Analyst Interest

    Sentiment: MIXED

    Note: This summary was synthesized by AI from the FRPH Q1 2026 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.

    📋 Official Regulatory 10-K / 10-Q SEC Filings

    Direct authenticated documentation links to audited SEC database reports for FRPH.

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    SEC Filings (FRPH)

    © 2026 Stock Market Info — FRP Holdings, Inc. (FRPH) Financial Profile