Loading...
FRPH logo

FRP Holdings, Inc.NasdaqGS:FRPH Stock Report

Market Cap US$436.7m
Share Price
US$22.90
US$32.77
30.1% undervalued intrinsic discount
1Y-13.9%
7D4.2%
1D
Portfolio Value
​
View

FRP Holdings, Inc.

NasdaqGS:FRPH Stock Report

Market Cap: US$436.7m

FRP Holdings (FRPH) Stock Overview

Engages in the real estate business in the United States. More details

FRPH fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance0/6
Financial Health2/6
Dividends0/6

Rewards

Trading at 30.1% below our estimate of its fair value

Risk Analysis

Earnings have declined by 49% per year over past 5 years

Large one-off items impacting financial results

Profit margins (2.8%) are lower than last year (21.5%)


FRPH Community Fair Values

Create Narrative

See what others think this stock is worth. Follow their fair value or set your own to get alerts.

View all narratives

FRP Holdings, Inc. Competitors

Price History & Performance

Summary of share price highs, lows and changes for FRP Holdings
Historical stock prices
Current Share PriceUS$22.90
52 Week HighUS$28.35
52 Week LowUS$20.53
Beta0.49
1 Month Change6.41%
3 Month Change-5.33%
1 Year Change-13.88%
3 Year Change-15.01%
5 Year Change-19.63%
Change since IPO3,484.35%

Recent News & Updates

Seeking Alpha • Apr 29

FRP Holdings: Altman Acquisition Adds Ambition, Not Answers

Summary FRP Holdings remains asset-rich but continues to generate weak returns, justifying a maintained Sell rating. The Altman Logistics Properties acquisition expands FRPH’s footprint but elevates leverage and compresses near-term earnings. Valuation analysis across sector, peer, and industry benchmarks indicates FRPH is materially overvalued, with a target price of $6.57 versus $21.59. Absent a credible path to higher earnings, the investment case relies on long-term execution, which remains unproven. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha • Apr 29

FRP Holdings: Altman Acquisition Adds Ambition, Not Answers

Summary FRP Holdings remains asset-rich but continues to generate weak returns, justifying a maintained Sell rating. The Altman Logistics Properties acquisition expands FRPH’s footprint but elevates leverage and compresses near-term earnings. Valuation analysis across sector, peer, and industry benchmarks indicates FRPH is materially overvalued, with a target price of $6.57 versus $21.59. Absent a credible path to higher earnings, the investment case relies on long-term execution, which remains unproven. Read the full article on Seeking Alpha
Analysis Article • Mar 11

FRP Holdings (NASDAQ:FRPH) Has A Pretty Healthy Balance Sheet

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Seeking Alpha • Feb 25

FRP Holdings: A Hidden Gem In Real Estate Development Or A Value Trap?

Summary FRP Holdings is pivoting from multifamily to industrial real estate, leveraging strong mining royalties, but struggles with capital allocation and low ROIC. Despite revenue growth and improved core profitability, FRP's ROIC remains below its WACC, resulting in a negative intrinsic value. Management's transparency efforts and strategic partnerships aim to mitigate risks, yet the stock has underperformed, rising only 24% in five years. Investment in FRP is speculative, hinging on successful industrial projects and management's ability to unlock value amidst complex business operations. Read the full article on Seeking Alpha
Analysis Article • Apr 03

We Think That There Are Some Issues For FRP Holdings (NASDAQ:FRPH) Beyond Its Promising Earnings

FRP Holdings, Inc.'s ( NASDAQ:FRPH ) healthy profit numbers didn't contain any surprises for investors. However the...
Analysis Article • Nov 05

FRP Holdings (NASDAQ:FRPH) Is Carrying A Fair Bit Of Debt

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Seeking Alpha • Aug 24

Rhizome Partners - FRP Holdings: Trading At Large Discount To Intrinsic Value

FRP Holdings continues to execute well. The private liquidation value of FRPH is much higher than the current stock price. YTD, FRPH stock price is up 4% versus the NAREIT All Equity Index. We believe FRP Holdings is trading at large discounts to its intrinsic value coming into 2022. The following segment was excerpted from this fund letter. FRP Holdings (FRPH) FRP Holdings continues to execute well. The city of Washington, D.C., removed the Covid rent freeze during the first quarter. Dock 79 renewed 72% of the leases, with an average rent increase of 4.7%. The Maren renewed 61% of the leases, with an average rent increase of 2.3%. Both buildings will benefit greatly from higher baseball game attendance this year. At the end of Q1, 65% of Bryant Street’s apartments and 82% of its commercial space were leased. The Verge, at 1800 Half Street, is expected to be completed in the third quarter of 2022. Riverside in Greenville, SC, has likely reached stabilization, with over 90% leased as of this writing. Another multi-family development in Greenville, SC, .408 Jackson, will begin leasing in the third quarter of 2022. While the multi-family assets are performing well, higher interest rates will negatively impact the mortgage cash-out amount and lower the ongoing operating cash flow of the soon-to-be-stabilized assets. This will lower our net asset value ((NAV)) estimates and we will continue to monitor private market pricing. Rest assured, the private liquidation value of FRP Holdings is still much higher than the current share price. New Riverside apartment building in Greenville, SC The aggregate business continues to perform well, and aggregate price increase percentages should be in the teens while expense increases will be minimal given the royalty structure. The aggregate business is ideally positioned to benefit from higher inflation. During the quarter, the company purchased a mining royalty property in Astatula, FL, for $11.6 million. The new property consists of 1,549 acres adjacent to the company’s site in Astatula. It contains 22.5 million tons of sand reserves and generates almost 12% unlevered cash yield on day one. We estimate that the unlevered IRR will be around 14-15% over the lifetime due to price increases. This is an incredible acquisition and further demonstrates the deal-making savvy of the Baker family in the aggregate space. Demand for single-family homes has cooled off significantly because of rising mortgage rates, which have reached 5-6%. FRP Holdings has already received $9.6 million back from its $16.2 million capital investment in the Amber Ridge lot project. The company has an additional $31 million commitment for a new lot-development project. Given the sharply rising rates, these two projects are on our watch list. FRP Holdings’ warehouse portfolio continues to be well leased. Upon the completion of a new, fully leased, built-to-suit warehouse, FRP Holdings will have 91% occupancy in its warehouse portfolio of half a million square feet. The company has additional development parcels to bring the portfolio up to 1.4 million square feet. Year to date, FRP Holdings’ share price is up 4% versus the NAREIT All Equity Index, which is down 19.2%. We believe this is because FRP Holdings traded at large discounts to its intrinsic value coming into 2022. As inflation becomes a more pressing issue, the investing public has found the company increasingly attractive.
Seeking Alpha • Aug 11

FRP Holdings GAAP EPS of $0.07, revenue of $9.63M

FRP Holdings press release (NASDAQ:FRPH): Q2 GAAP EPS of $0.07. Revenue of $9.63M (+13.3% Y/Y).
Seeking Alpha • Mar 11

FRPH: Cash-Flowing, Hard-Asset Company, Lots Of Free Options And Insiders Own 35%

FRPH is a DC-centric multi-family real estate company that also has a mining royalty business. It trades at a conservative 100% of a growing NAV, but there are a lot of free options attached and upcoming catalysts. Management is aligned and owns ~35% of the stock.
Analysis Article • Mar 11

Is FRP Holdings, Inc.'s (NASDAQ:FRPH) Shareholder Ownership Skewed Towards Insiders?

A look at the shareholders of FRP Holdings, Inc. ( NASDAQ:FRPH ) can tell us which group is most powerful. Large...
Analysis Article • Feb 07

Is FRP Holdings (NASDAQ:FRPH) A Risky Investment?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Shareholder Returns

FRPHUS Real EstateUS Market
7D4.2%-0.8%-0.8%
1Y-13.9%-7.2%27.1%

Return vs Industry: FRPH underperformed the US Real Estate industry which returned -6.7% over the past year.

Return vs Market: FRPH underperformed the US Market which returned 26.7% over the past year.

Price Volatility

Is FRPH's price volatile compared to industry and market?
FRPH volatility
FRPH Average Weekly Movement4.1%
Real Estate Industry Average Movement7.0%
Market Average Movement7.2%
10% most volatile stocks in US Market16.3%
10% least volatile stocks in US Market3.2%

Stable Share Price: FRPH has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: FRPH's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
198825John Bakerwww.frpdev.com

FRP Holdings, Inc. engages in the real estate business in the United States. The company operates through four segments: Industrial and Commercial, Mining Royalty Lands, Development, and Multifamily. Its Industrial and Commercial segment owns, leases, and manages commercial properties.

FRP Holdings, Inc. Fundamentals Summary

How do FRP Holdings's earnings and revenue compare to its market cap?
FRPH fundamental statistics
Market capUS$436.70m
Earnings (TTM)US$933.00k
Revenue (TTM)US$33.45m
470.5x
P/E Ratio
13.1x
P/S Ratio

Is FRPH overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
FRPH income statement (TTM)
RevenueUS$33.45m
Cost of RevenueUS$12.18m
Gross ProfitUS$21.26m
Other ExpensesUS$20.33m
EarningsUS$933.00k

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

n/a

Earnings per share (EPS)0.049
Gross Margin63.58%
Net Profit Margin2.79%
Debt/Equity Ratio44.9%

How did FRPH perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/21 07:57
End of Day Share Price 2026/05/21 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

FRP Holdings, Inc. is covered by 3 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Charles StrauzerCJS Securities, Inc.
Lawrence SolowCJS Securities, Inc.
James FrondaSidoti & Company, LLC