FRP Holdings Q2 net loss $0.3M; mining royalties up 13% but multifamily/industrial occupancy down

FRP HOLDINGS, INC.

Net loss of $0.3M ($0.01 per share) vs net income of $0.6M ($0.03) in Q2 2025.
Pro rata NOI $9.4M, down 3% YoY; multifamily NOI fell 9% to $4.3M, industrial NOI down 39% to $0.6M.
Multifamily occupancy 93.2% (down from 94.1%); industrial occupancy 69.9% (ex-Chelsea) vs 77.9%.
Mining royalty revenue up 13% on 6.8% volume increase and 5.4% higher revenue per ton.
G&A increased $0.8M due to Altman integration costs; net investment income fell $1.1M.

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