Insider Transaction: David H. deVilliers III Sells $104,000 Worth of FRP Holdings Shares

FRP Holdings Insider Activity: Recent Developments

David H. deVilliers III, who serves as President and Chief Operating Officer at FRP Holdings (NASDAQ: FRPH), has recently disclosed the sale of company shares, according to a filing with the SEC dated January 5.

Transaction Details: DeVilliers III sold 4,589 shares of FRP Holdings, as reported in a Form 4 submission to the U.S. Securities and Exchange Commission on Monday. The transaction was valued at $104,399.

As of Tuesday morning, FRP Holdings shares had declined by 0.97%, trading at $22.91.

About FRP Holdings

FRP Holdings Inc operates as a holding company with a diverse portfolio in the real estate sector. Its business is organized into several segments:

• Industrial/Commercial Segment: Manages and leases commercial properties owned by the company.
• Mining Royalty Lands Segment: Oversees the leasing and management of mining royalty land.
• Development Segment: Engages in acquiring, entitling, developing, and constructing properties for apartments, retail, warehouses, and offices, either independently or through partnerships.
• Multifamily Segment: Owns, leases, and manages buildings via joint ventures.

Financial Highlights for FRP Holdings

• Revenue Growth: Over the three months ending September 30, 2025, FRP Holdings posted a revenue increase of 1.34%. While this marks an improvement, the growth rate trails behind the average for real estate sector peers.
• Profitability Metrics:
  • Gross Margin: The company boasts a robust gross margin of 91.14%, reflecting strong cost management and profitability compared to competitors.
  • Earnings per Share (EPS): With an EPS of 0.03, FRP Holdings lags behind industry standards, highlighting some profitability challenges.
• Debt Profile: The debt-to-equity ratio stands at 0.43, which is lower than the sector average, indicating a conservative approach to leverage.
• Valuation Metrics:
  • P/E Ratio: The current price-to-earnings ratio is 92.64, exceeding the industry norm and suggesting the stock may be trading at a premium.
  • P/S Ratio: With a price-to-sales ratio of 10.37, the company’s shares are valued higher than most peers based on sales.
  • EV/EBITDA: An enterprise value to EBITDA ratio of 24.9 places FRP Holdings above the industry average, reflecting strong market valuation.
• Market Capitalization: The company’s market cap is below the sector average, indicating a smaller scale relative to competitors, which may impact its perceived growth prospects.

Understanding Insider Transactions

While insider trading activity should not be the sole basis for investment decisions, it can offer valuable insights into a company’s prospects.

Legally, an "insider" is defined as an executive, director, or any individual or entity holding more than 10% of a company’s registered equity securities. This includes top management and major institutional investors. Insiders are required to publicly disclose their trades through Form 4 filings within two business days of the transaction.

When insiders purchase shares, it often signals optimism about the company’s future. Conversely, insider sales can occur for many reasons and do not always indicate negative sentiment about the stock’s outlook.

Decoding Insider Transaction Codes

For investors, open market transactions—found in Table I of Form 4—are of particular interest. The codes used include:

• P: Purchase of shares
• S: Sale of shares
• C: Option conversion
• A: Grant, award, or other acquisition of securities from the company

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