HighTower Advisors LLC Buys New Position in FRP Holdings, Inc. (NASDAQ:FRPH)

HighTower Advisors LLC bought a new stake in FRP Holdings, Inc. (NASDAQ:FRPH) in the 4th quarter, Holdings Channel reports. The institutional investor bought 1,928,416 shares of the financial services provider’s stock, valued at approximately $59,067,000. HighTower Advisors LLC owned 0.10% of FRP at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of FRP during the 4th quarter valued at about $1,789,000. Proficio Capital Partners LLC acquired a new position in shares of FRP during the 4th quarter valued at about $517,000. Meixler Investment Management Ltd. acquired a new position in shares of FRP during the 4th quarter valued at about $793,000. Rhumbline Advisers increased its stake in shares of FRP by 2.3% during the 4th quarter. Rhumbline Advisers now owns 20,995 shares of the financial services provider’s stock valued at $643,000 after acquiring an additional 465 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of FRP during the 4th quarter valued at about $65,000. Institutional investors and hedge funds own 45.42% of the company’s stock.

FRP Price Performance

NASDAQ FRPH opened at $27.55 on Friday. FRP Holdings, Inc. has a 12 month low of $26.99 and a 12 month high of $33.00. The company has a 50-day moving average of $30.46 and a 200-day moving average of $30.33. The company has a market cap of $524.28 million, a P/E ratio of 68.88 and a beta of 0.49.

FRP (NASDAQ:FRPH) last posted its quarterly earnings data on Wednesday, March 5th. The financial services provider reported $0.09 EPS for the quarter. FRP had a net margin of 18.35% and a return on equity of 1.67%. The company had revenue of $10.53 million during the quarter.

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.