FRP Holdings: Strong Legacy Cash Flows And Asset-Backed Value

FRP Holdings ( FRPH ) is a 'Strong Buy' currently mispriced by a market that treats it as a traditional real estate developer.

While the company is facing operational headwinds in their new multifamily and industrial portfolio, these challenges are This article was written by Ricardo Conejero 20 Followers Follow I am an independent financial analyst and active Real Estate investor for nearly a decade, specialized in deep value equities and in Real Estate.

I started my journey when I was 20 years old driven by the pursuit of asymmetrical opportunities.

I began acquiring properties in a deep market dislocation period, a contrarian strategy that allowed me to lock in robust 12% Yield on Cost, as the market recovered that allowed me to diversify into other investments.

Professionally, I had my foundational valuation skills working as analyst in an Investment firm and later into the Pharma sector.

I covered different sectors like Healthcare, Consumer Staples, REIT´s and Gold Royalties.

Beyond individual equities, I have a deep passion for macro environment, geopolitics, and how global monetary policies dictate capital allocation, my motivation to write in Seeking Alpha, is to bring this hands on the ground experience in Real Estate, investments in distressed markets, institutional equity analysis and macroeconomic theory to the investment community.

My goal is to break down sum of the part analysis and deep value opportunities into investment thesis.

And remember, it is always long term Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions.

I am not receiving compensation for it (other than from Seeking Alpha).

I have no business relationship with any company whose stock is mentioned in this article.

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