secwatch.observer — SEC 8-K summary
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Issuer:     FRP HOLDINGS, INC. (FRPH)
CIK:        0000844059
Form:       8-K
Filed at:   2026-04-10T23:59:59+00:00
Accession:  0000844059-26-000030
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FRP Holdings Q4 net income down 77% to $380K; full year down 48% on acquisition costs
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- Q4 net income $380K ($0.02/sh) vs $1.68M ($0.09/sh) prior year; includes $512K of Altman acquisition expenses.
- Full year net income $3.33M ($0.18/sh) vs $6.39M ($0.34/sh); adjusted net income down $1.1M excluding $2.5M Altman costs.
- Pro rata NOI Q4 $9.29M (+2% YoY); full year $37.86M (-0.7% YoY) but up 3% adjusted for non-recurring mining items.
- Industrial & Commercial segment NOI fell 12% in Q4 due to tenant eviction and lease expirations; 47.5% occupancy.
- Oct 2025 Altman Logistics acquisition adds development pipeline and staff; three industrial projects (762k sf) expected $9.3M NOI at stabilization.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/844059/000084405926000030/0000844059-26-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/844059/000084405926000030/frph-20260410.htm
  HTML page:      https://secwatch.observer/filing/0000844059-26-000030

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer