FRP HOLDINGS INC
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
FRPH$19.84+6.5%Stored close · as of Nov 9, 2026
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Item 1. Financial Statements
CONSOLIDATED BALANCE SHEETS
(Unaudited) (In thousands, except share data)
| Assets: | September 302024 | December 312023 |
|---|---|---|
| Real estate investments at cost: | ||
| Land | $168,958 | 141,602 |
| Buildings and improvements | 283,104 | 282,631 |
| Projects under construction | 29,414 | 10,845 |
| Total investments in properties | 481,476 | 435,078 |
| Less accumulated depreciation and depletion | 75,183 | 67,758 |
| Net investments in properties | 406,293 | 367,320 |
| Real estate held for investment, at cost | 11,290 | 10,662 |
| Investments in joint ventures | 157,272 | 166,066 |
| Net real estate investments | 574,855 | 544,048 |
| Cash and cash equivalents | 144,681 | 157,555 |
| Cash held in escrow | 981 | 860 |
| Accounts receivable, net | 1,826 | 1,046 |
| Federal and state income taxes receivable | — | 337 |
| Unrealized rents | 1,395 | 1,640 |
| Deferred costs | 2,569 | 3,091 |
| Other assets | 611 | 589 |
| Total assets | $726,918 | 709,166 |
| Liabilities: | ||
| Secured notes payable | $178,816 | 178,705 |
| Accounts payable and accrued liabilities | 6,060 | 8,333 |
| Other liabilities | 1,487 | 1,487 |
| Federal and state income taxes payable | 452 | — |
| Deferred revenue | 2,392 | 925 |
| Deferred income taxes | 68,356 | 69,456 |
| Deferred compensation | 1,451 | 1,409 |
| Tenant security deposits | 801 | 875 |
| Total liabilities | 259,815 | 261,190 |
| Commitments and contingencies | — | — |
| Equity: | ||
| Common stock, $.10 par value25,000,000 shares authorized,19,030,474 and 18,968,448 shares issuedand outstanding, respectively | 1,903 | 1,897 |
| Capital in excess of par value | 68,313 | 66,706 |
| Retained earnings | 350,588 | 345,882 |
| Accumulated other comprehensive income, net | 80 | 35 |
| Total shareholders’ equity | 420,884 | 414,520 |
| Noncontrolling interests | 46,219 | 33,456 |
| Total equity | 467,103 | 447,976 |
| Total liabilities and equity | $726,918 | 709,166 |
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