FRP (NASDAQ:FRPH) Upgraded at StockNews.com

StockNews.com upgraded shares of FRP (NASDAQ:FRPH) from a hold rating to a buy rating in a research note released on Monday.

FRP Stock Performance

Shares of FRPH stock opened at $29.38 on Monday. The firm’s 50-day simple moving average is $30.09 and its two-hundred day simple moving average is $29.44. FRP has a 52 week low of $26.23 and a 52 week high of $32.50. The firm has a market cap of $558.22 million, a price-to-earnings ratio of 106.84 and a beta of 0.57.

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

Hedge Funds Weigh In On FRP

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Citigroup Inc. boosted its stake in shares of FRP by 111.4% in the 1st quarter. Citigroup Inc. now owns 446 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 235 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in FRP by 63.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 554 shares of the financial services provider’s stock valued at $32,000 after buying an additional 216 shares during the last quarter. Creative Financial Designs Inc. ADV bought a new stake in FRP during the 4th quarter valued at $50,000. UBS Group AG raised its holdings in FRP by 108.3% during the 2nd quarter. UBS Group AG now owns 1,281 shares of the financial services provider’s stock valued at $77,000 after buying an additional 666 shares during the last quarter. Finally, Barclays PLC raised its holdings in FRP by 533.8% during the 4th quarter. Barclays PLC now owns 1,800 shares of the financial services provider’s stock valued at $97,000 after buying an additional 1,516 shares during the last quarter. Hedge funds and other institutional investors own 45.42% of the company’s stock.

FRP Company Profile

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.