FRP
💰 FRP Holdings has approximately $170 million in cash and low debt.
⛏️ The company owns valuable aggregate reserves (sand, gravel, stone) in Florida, Georgia and other states, leased out under royalty agreements.
🏢 FRP has significant real estate holdings in Washington, D.C., including waterfront properties with development potential.
📈 The company has a track record of selling assets at high valuations and repurchasing shares when undervalued.
@emeritoquintana:
“The company we are going to explain is FRP Holdings. They have about $170 million in cash right now, and some mortgages on their properties, but these mortgages are not recourse to the parent company. They also have deferred tax assets, which we can value conservatively. The company started in 1929 with Thomson Baker, who bought a quarry that his father had lost. The company evolved into Florida Rock Industries, which was later sold to Vulcan Materials in 2007 for $4.6 billion, a 45% premium over the prior day’s stock price. FRP Holdings is the real estate and royalty business that was spun off from Florida Rock.”
Watch the exact part of the video where Emerito talks about FRP Holdings here:
View the video on YouTube.
Read more articles by the world’s top 100 analysts on FRP Holdings (FRP) at the following link. FRP stock.
