Is FRP Holdings (FRPH) A Great Investment Choice?

Rhizome Partners, an investment management firm, published its third-quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly net loss of 1.7% was delivered by the fund for the third quarter of 2021, versus the 0.6% gain of the S&P 500 index and 0.2% gain of the NAREIT index for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Rhizome Partners, in its Q3 2021 investor letter, mentioned FRP Holdings, Inc. (NASDAQ: FRPH) and discussed its stance on the firm. FRP Holdings, Inc. is a Jacksonville, Florida-based holding company with a $569.4 million market capitalization. FRPH delivered a 35.24% return since the beginning of the year, while its 12-month returns are up by 36.86%. The stock closed at $61.60 per share on November 24, 2021.

Here is what Rhizome Partners has to say about FRP Holdings, Inc.  in its Q3 2021 investor letter:

FRP Holdings hosted a great investor day. We upped our year-end 2023 NAV estimates upon the announcement of additional projects. We were impressed by the quality of their development projects in Washington, D.C. and the leasing velocity. There were lots of little things that the development team did well, such as locating the Immersive Van Gogh Exhibit next to the Bryant Street project, which turned the empty retail box next to the Bryant Street project into a lively art exhibit that’s garnered social media engagement. At $39.90 for adult tickets, the exhibit also attracts a clientele that fits the perfect demographic for the Bryant Street apartments. The choice of location, in turn, lowers the customer-acquisition cost, improves leasing velocity, and elevates the branding of the Bryant Street apartments.”

Based on our calculations, FRP Holdings, Inc. (NASDAQ: FRPH) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. FRPH was in 7 hedge fund portfolios at the end of the third quarter of 2021, compared to 7 funds in the previous quarter. FRP Holdings, Inc. (NASDAQ: FRPH) delivered an 8.22% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.