FRPH

Image source: The Motley Fool. Friday, April 10, 2026 at 4:30 p.m. ET Chief Executive Officer — John Baker III Chairman — John Baker II President and Chief Operating Officer — David deVilliers III Chief Financial Officer — Matthew McNulty Chief Investment Officer — Mark Levy Chief Accounting Officer — John Klopfenstein Need a quote from a Motley Fool analyst? Email [email protected] Matthew McNulty: Thank you. Good afternoon, and thank you all for joining us on this call today. I am Matt McNulty, Chief Financial Officer of FRP Holdings, Inc. And with me today are John Baker II, our Chairman; John Baker III, our CEO; David deVilliers III, our President and Chief Operating Officer; Mark Levy, our Chief Investment Officer; and John Klopfenstein, our Chief Accounting Officer. First, let me run through a brief disclosure regarding forward-looking statements and non-GAAP measures used by the company. As a reminder, any statements on this call, which relate to the future are, by their nature, subject to risks and uncertainties that could cause actual results and events to differ materially from those indicated in such forward-looking statements. These risks and uncertainties are listed in our SEC filings. To supplement the financial results presented in accordance with generally accepted accounting principles, FRP presents certain non-GAAP financial measures within the meaning of Regulation G. The non-GAAP financial measures referenced in this call are net operating income, or NOI, and pro rata NOI. In this quarter, we provided an adjusted net income to adjust for the impact of onetime expenses of the Altman Logistics acquisition, which is a material business combination unlike our historical real estate acquisitions or joint ventures where expenses are capitalized. We also provided adjusted net operating income to adjust for the impact of the onetime material royalty payment in the third quarter of 2024 to better depict the comparable results year-to-date. Management believes these adjustments provide a more accurate comparison of our ongoing business operation and results over time due to the nonrecurring material and unusual nature of these 2 specific items. FRP uses these non-GAAP financial measures to analyze its operations and to monitor, assess and identify meaningful trends in our operating and financial performance. These measures are not and should not be viewe...

This article first appeared on GuruFocus. Net Operating Income (NOI): Approximately $8.9 million for the quarter. Funds From Operations (FFO): $3.6 million, or $0.19 per share. Liquidity: Approximately $130 million between cash and line availability. Commercial and Industrial Occupancy: 47.5% occupied, down from 85% last year. Commercial and Industrial Segment NOI: $758,000, compared to $1,139,000 last year. Mining and Royalties NOI: $3.8 million, up 15% year-over-year. Multifamily NOI: $4.1 million for the quarter. Development Pipeline Costs: Approximately $441 million with expected stabilized incremental NOI of $30 million. General and Administrative Expenses (G&A): Expected to be approximately $15 million to $16 million for 2026. Warning! GuruFocus has detected 4 Warning Sign with FRPH. Is FRPH fairly valued? Test your thesis with our free DCF calculator. Release Date: May 13, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. FRP Holdings Inc (NASDAQ:FRPH) generated approximately $8.9 million of net operating income (NOI) and $3.6 million of funds from operations (FFO) in the first quarter of 2026. The company completed the Altman Industrial acquisition, adding 1.6 million square feet to its industrial development pipeline, expanding its presence in Florida and New Jersey. Mining and royalties segment showed strong performance with a 15% year-over-year increase in NOI, providing durable, high-margin cash flow. Leasing activity has improved with 53,000 square feet signed or under letters of intent, representing $1 million in future annualized NOI. FRP Holdings Inc (NASDAQ:FRPH) maintains a strong balance sheet with approximately $130 million of liquidity, providing substantial flexibility for future operations. Commercial and industrial portfolio occupancy decreased to 47.5% from 85% last year, impacting segment NOI. First quarter results in the multifamily segment were below expectations due to lower occupancy and higher operating costs, particularly in Washington, D.C. The company faces near-term pressure on FFO due to lease-up timing, elevated platform costs, and higher interest expenses. Washington, D.C. multifamily market remains competitive with continued supply pressure affecting occupancy and concessions. Development starts have declined, and high construction costs and yield on cost requireme...

FRP Holdings (NASDAQ:FRPH) reported first-quarter financial results on Wednesday. The transcript from the company's first-quarter earnings call has been provided below. This transcript is brought to you by Benzinga APIs. For real-time access to our entire catalog, please visit https://www.benzinga.com/apis/ for a consultation. View the webcast at https://www.webcaster5.com/Webcast/Page/3158/54012 FRP Holdings Inc reported first quarter 2026 results with a net operating income (NOI) of $8.9 million and funds from operations (FFO) of $3.6 million or $0.19 per share, ending the quarter with $130 million in liquidity. The company completed the Altman Industrial acquisition, adding 1.6 million square feet of industrial development, and expanded operations in Florida and New Jersey, although occupancy in the commercial portfolio dropped due to lease rollover timing and new segment additions. Mining and royalties segment showed strong performance with a 15% year-over-year NOI increase, while the multifamily portfolio faced challenges in Washington, D.C. due to supply issues, impacting overall occupancy and performance. FRP Holdings Inc aims to stabilize its development pipeline and improve lease-up activities, expecting stable NOI and pressured FFO in 2026, with future growth dependent on leasing and development efforts. Management expressed optimism about improved leasing activity and market conditions, particularly in industrial spaces, and highlighted strategic focus on disciplined growth and capital deployment. OPERATOR Good day everyone. Welcome to the FRP Holdings Inc. First Quarter 2026 Conference Call. At this time, all participants have been placed on a listen only mode and the floor will be open for questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Matt McNulty, CFO of FRP Holdings. The floor is yours. Matt McNulty (Chief Financial Officer) Great. Thank you. Good morning and thank you for joining us on this call today. I am Matt McNulty, Chief Financial Officer of FRP Holdings Inc. And with me today are John Baker II, our chairman John Baker III, our CEO David de Villier III, our president and chief operating officer, David de Villier Jr. Our vice chairman, John Milton, our Executive Vice President, Mark Levy, Chief Investment Officer and John Kloppenstein, our Chief Accounting Officer. First, let me...

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. Baker continued, "Mining royalties continue to be a bright spot, with volume and pricing both moving favorably for the second consecutive quarter. We have more capital deployed in active development today than at any point in recent history, and over the next two years, lease-up of that pipeline will reshape our earnings profile. Near-term, our focus is straightforward: re-lease the Maryland industrial portfolio, stabilize occupancy in the DC multifamily assets, and deliver our active development projects on schedule." Operating Performance Snapshot (dollars in thousands) Q1 Consolidated Results of Operations Net loss of $687,000 or $(0.04) per share, versus net income of $1,710,000 or $0.09 per share in Q1 2025 Pro rata NOI of $8.9 million versus $9.4 million in Q1 2025, with the decline driven by lower Multifamily and Industrial NOI partially offset by higher Mining Royalty NOI Total revenues of $10.6 million, up 2.8%, as a 15% increase in mining royalty revenue and $164,000 of joint vent...

JACKSONVILLE, Fla. (AP) — JACKSONVILLE, Fla. (AP) — FRP Holdings Inc. (FRPH) on Tuesday reported a loss of $687,000 in its first quarter. The Jacksonville, Florida-based company said it had a loss of 4 cents per share. The real estate company posted revenue of $10.6 million in the period. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FRPH at https://www.zacks.com/ap/FRPH

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. (ET). Analysts, stockholders and other interested parties may access the teleconference live by calling 1-877-545-0320 (passcode 784509) within the United States or by joining the webcast here. International callers may dial 1-973-528-0002 (passcode 784509). Webcast replay will be available until May 13, 2027, by accessing it here. The webcast replay will also be available on the Company's investor relations page (https://www.frpdev.com/investor-relations/) following the call. Additional Information Our investor relations website is https://investors.frpdev.com and we encourage investors to use it as a way of easily finding information about us. We promptly make available on this website, free of charge, the reports that we file or furnish with the SEC, press releases, quarterly earnings presentations, investor presentations, and corporate governance information, and you may subscribe to Email Alerts to be notified of new information posted to this site. About FRP Holdings, Inc. FRP Holdings, Inc. is a holding company engaged in the real estate business, namely (i) leasing and management of commercial properties owned by the Company, (ii) leasing and management of mining royalty land owned by the Company, (iii) real property acquisition, entitlement, development and construction primarily for apartment, retail, warehouse, and office, (iv) leasing and management of residential apartment buildings. Investor & Media Contacts: Robert Winters or Abe Plimpton [email protected] 929-266-6315 SOURCE: FRP Holdings, Inc. View the original press release on ACCESS Newswire

2025 results and balance sheet: FRP reported approximately $37.9M NOI and $22.1M FFO ($1.16/share), finished the year with about $144M of liquidity, net debt/enterprise value near 21% and a weighted-average interest rate of ~5.24%. Altman acquisition expands industrial platform: FRP acquired Altman Industrial for ~$33.5M, adding roughly 1.6M sq ft to its development pipeline and management expects the deal to boost earnings, operating cash flow and NAV. Pipeline, leasing headwinds and 2026 outlook: FRP has a ~$441M development pipeline targeting ~$30M incremental stabilized NOI, but industrial occupancy was only 47.5% (69.9% excl. Chelsea) with ~423k sq ft available — stabilization could add ~$3.3M NOI — and 2026 NOI is guided to ~$37.1–37.7M with elevated G&A of ~$15–16M during Altman integration. Interested in FRP Holdings, Inc.? Here are five stocks we like better. FRP (NASDAQ:FRPH) executives said 2025 was a “transition year” marked by a major platform expansion, as the company moved to scale its industrial logistics development capabilities and positioned itself for what management described as a new phase focused on execution and cash flow conversion. President and Chief Operating Officer David deVilliers III said FRP generated approximately $37.9 million of net operating income (NOI) and $22.1 million of funds from operations (FFO), or $1.16 per share, for the year. He added the company ended 2025 with approximately $144 million of liquidity. → This New ETF Aims to Capitalize on Surging AI Memory Chip Demand On the balance sheet, deVilliers said FRP finished the year with net debt to enterprise value of approximately 21% and a weighted average interest rate of approximately 5.24%, which he said provides flexibility to fund development and lease-up “without reliance on asset sales.” DeVilliers said FRP completed the Altman Industrial acquisition late in the fourth quarter for approximately $33.5 million, adding roughly 1.6 million square feet of industrial development pipeline. He said the deal was not included in the company’s original budget, but “significantly expands our platform and strengthens our presence in high conviction logistics markets.” → GPU Prices Are Surging—3 Ways to Play the AI Chip Shortage Chief Executive Officer John Baker III said the Altman Logistics platform and its team “opens up” FRP’s options for where and how it develops, a...

This article first appeared on GuruFocus. Net Operating Income (NOI): $37.9 million for the year. Funds From Operations (FFO): $22.1 million or $1.16 per share for the year. Liquidity: Approximately $144 million at year-end. Altman Industrial Acquisition: Completed for approximately $33.5 million, adding 1.6 million square feet of industrial development pipeline. Commercial and Industrial Segment NOI: $875,000 in Q4 and $3.9 million for the year, representing declines of 11.8% and 13.6%, respectively. Commercial and Industrial Occupancy: Approximately 47.5% at year-end, down from 95.6% last year. Mining and Royalties Segment NOI: $3.9 million in Q4 and $14.6 million for the year, with increases of 11.5% and 1.5%, respectively. Multifamily Segment NOI: $4.2 million in Q4 and $18.1 million for the year, with declines of 2.6% and 0.4%, respectively. Multifamily Average Occupancy: Around 93% with economic occupancy at approximately 88%. Development Pipeline: Approximately $441 million in total project costs with expected stabilized incremental NOI of approximately $30 million. Estimated NAV per Share: Approximately $37.60, expected to increase to over $40 per share over the next three years. 2026 NOI Guidance: Expected to be approximately $37.1 million to $37.7 million. G&A Expenses: Expected to increase to approximately $15 million to $16 million in 2026. Net Debt to Enterprise Value: Approximately 21% at year-end. Weighted Average Interest Rate: Approximately 5.4%. Warning! GuruFocus has detected 4 Warning Sign with FRPH. Is FRPH fairly valued? Test your thesis with our free DCF calculator. Release Date: April 10, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. FRP Holdings Inc (NASDAQ:FRPH) completed the Altman Industrial acquisition, significantly expanding their platform and strengthening their presence in high conviction logistics markets. The Mining and royalties segment generated strong cash flow with minimal capital requirements, providing a stable component to overall earnings. Development pipeline represents approximately $441 million in total project costs with expected stabilized incremental NOI of approximately $30 million over time. The company ended the year with approximately $144 million of liquidity, providing flexibility to fund development and support lease-up. Recent leasing activity...

FRP (FRPH) reported Q4 earnings late Friday of $0.02 per share, down from $0.09 a year earlier. R

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. Net Operating Income (NOI) increased slightly ($9.29 million vs $9.10 million). 3% decrease in the Multifamily segment's NOI primarily due to reduced occupancy, uncollectable revenue along with higher operating costs and property taxes at the Maren and higher than typical maintenance expenses at Dock 79. 12% decrease in Industrial and Commercial segment NOI primarily due to vacancies from an eviction of one tenant and lease expirations. Mining Royalty Land's revenue increased 11%, and segment NOI increased 11% due to improved royalties per ton. On October 21, 2025, the Company acquired the business operations and development pipeline of Altman Logistics Property, LLC, including two projects already majority-owned by FRP Holdings as well as minority interests in a portfolio of institutional grade assets under development. In conjunction with the acquisition, the Company hired six of Altman Logistic's employees. Executive Summary and Analysis Results for 2025 were in line with the expectations we outlined earlier this year. Reported net income declined compared to 2024 primarily due to legal expenses associated with the acquisition of Altman Logistics Properties in October 2025. This acquisition was a critical step and tactical change in how we will execute our development strategy and is crucial to pro rata net operating income growth and expanding our asset base for the rest of this decade. Pro rata Net Operating Income (NOI) for 2025 was down 0.7% compared to the previous year. In 2024, the Mining Royalty Lands segment experienced two non-recurring events which had a net positive impact to NOI of ~...

JACKSONVILLE, Fla. (AP) — JACKSONVILLE, Fla. (AP) — FRP Holdings Inc. (FRPH) on Friday reported profit of $380,000 in its fourth quarter. The Jacksonville, Florida-based company said it had profit of 2 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were 4 cents per share. The real estate company posted revenue of $10.9 million in the period. For the year, the company reported profit of $3.3 million, or 18 cents per share. Revenue was reported as $42.8 million. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FRPH at https://www.zacks.com/ap/FRPH