| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 10 | — | 17.8x | Bottom tier | |
Growth | 17 | 2.5% | 7.1% | Bottom tier | |
Quality | 14 | 0.8% | 4.5% | Bottom tier | |
Safety | 41 | 6.7x | 2.6x | Around median | |
Capital Return | 19 | — | 2.12% | Bottom tier | |
Momentum | 37 | -15.0% | 2.9% | Bottom tier | |
Sentiment | 94 | — | 3 | Top tier |
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
FRP Holdings operates as a real estate investment and development company focused on four main segments including commercial and industrial real estate, mining and royalties, multifamily real estate, and real estate development. The company generates its revenue by leasing industrial spaces, collecting royalties from mining operations, and leasing residential units in markets such as Washington D.C. and Greenville, South Carolina. Its recent acquisition of the Altman portfolio for $33.5 million in late 2025 expanded its industrial development pipeline by 1.6 million square feet across Florida and New Jersey.
During the first quarter of fiscal year 2026, the company reported total revenues of $10.6 million, incurring a net loss of $687,000, which translates to a loss per share of $0.04. Despite this net loss, the company managed to achieve a net operating income (NOI) of $8.9 million and funds from operations (FFO) of $3.6 million, or $0.19 per share. The mining and royalties segment was a bright spot, recording a 15 percent year-over-year increase in NOI to $3.8 million, while the commercial and industrial segment saw NOI decline to $758,000 due to occupancy rates falling to 47.5 percent.
Automated analysis for informational purposes only — not investment advice.
The company's shares are currently trading within a 52-week range of $20.53 to $26.49, with a market capitalization of $421.9 million. Given the net loss reported in the first quarter of 2026, the trailing P/E ratio is not considered a meaningful indicator, reflecting short-term pressures on profitability. In the absence of analyst consensus data on a price target, the stock's valuation relies primarily on the company's ability to achieve its full-year NOI target of $37 million and utilize its $130 million liquidity to support future growth.
Figures in the text are as of 2026-08-19; the live price is shown at the top of the page.
The segment faced significant headwinds, with the occupancy rate dropping sharply to 47.5 percent compared to about 85 percent in the same period last year. This decline is primarily attributed to the anticipated timing of lease expirations, slower tenant decision-making cycles, and the addition of the new Chelsea building to the portfolio. As a result, the segment's NOI fell to $758,000 compared to about $1.139 million in the prior year, although management notes there are 423,000 square feet available for lease representing a future opportunity.
The acquisition of the Altman portfolio, completed in late Q4 2025 at a cost of approximately $33.5 million, served as a transformative step for the company's development pipeline. This acquisition added approximately 1.6 million square feet of industrial development capacity, significantly expanding the company's geographic footprint in Florida and New Jersey. This acquisition is considered a critical component of the company's broader $441 million development pipeline, which aims to generate $30 million in additional stabilized NOI.
The multifamily properties in Washington D.C., including the Dock 79, Maren, and Verge projects, are experiencing intense local pressure due to increased supply. New competitive developments in the area, specifically The Vermeer and The Stacks projects, have increased market competition and forced the company to offer greater concessions and incentives to attract tenants. Consequently, the economic occupancy rate for these assets fell to the high 80s range, contributing to the segment's results falling short of expectations in the first quarter despite achieving a total NOI of $4.1 million.
Management expects the company's total NOI to remain relatively stable at around $37 million for the full fiscal year 2026. However, FFO will likely remain under pressure in the short term due to leasing timing, higher interest expenses, and estimated general and administrative costs between $15 million and $16 million. To navigate these challenges, the company maintains a strong liquidity position of $130 million, ensuring the necessary capital is available to execute stabilization and leasing strategies without funding pressures.
