Salem Investment Counselors Inc. Sells 2,000 Shares of FRP Holdings, Inc. (NASDAQ:FRPH)

Salem Investment Counselors Inc. cut its holdings in FRP Holdings, Inc. (NASDAQ:FRPH) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 110,184 shares of the financial services provider’s stock after selling 2,000 shares during the period. Salem Investment Counselors Inc.’s holdings in FRP were worth $3,375,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of FRPH. SG Americas Securities LLC bought a new position in FRP in the 3rd quarter valued at $155,000. American Century Companies Inc. bought a new position in FRP during the second quarter valued at about $250,000. Hsbc Holdings PLC increased its holdings in FRP by 116.2% during the second quarter. Hsbc Holdings PLC now owns 9,272 shares of the financial services provider’s stock worth $266,000 after buying an additional 4,983 shares during the last quarter. GSA Capital Partners LLP boosted its stake in FRP by 7.1% in the third quarter. GSA Capital Partners LLP now owns 20,065 shares of the financial services provider’s stock valued at $599,000 after acquiring an additional 1,329 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of FRP by 101.3% during the 2nd quarter. Rhumbline Advisers now owns 21,814 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 10,976 shares during the last quarter. 45.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded FRP from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th.

Insider Activity at FRP

In other FRP news, President David H. Devilliers, Jr. sold 1,281 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $31.22, for a total value of $39,992.82. Following the sale, the president now owns 60,987 shares of the company’s stock, valued at $1,904,014.14. This trade represents a 2.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John D. Milton, Jr. sold 960 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $31.25, for a total transaction of $30,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,841 shares of company stock worth $339,972. Corporate insiders own 22.80% of the company’s stock.

FRP Price Performance

Shares of FRPH traded up $0.33 during trading hours on Monday, hitting $29.07. The company’s stock had a trading volume of 10,793 shares, compared to its average volume of 22,049. The company has a market cap of $553.20 million, a price-to-earnings ratio of 72.68 and a beta of 0.50. The business has a 50 day simple moving average of $30.91 and a two-hundred day simple moving average of $29.86. FRP Holdings, Inc. has a 52-week low of $26.99 and a 52-week high of $33.00.

FRP 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.