FRP Holdings Inc. reported a net income of $0.7 million for the third quarter ended September 30, 2025, a 51% decrease from $1.4 million in the same period last year. The decline was primarily attributed to $1.3 million in expenses related to the Altman Logistics platform acquisition, partially offset by higher mining royalties and improved results in equity in loss of joint ventures. Pro rata net operating income decreased by 16% to $9.5 million from $11.3 million. Total assets as of September 30, 2025, were $731.3 million, and total equity was $462.2 million. The company's business segments include Multifamily, Industrial and Commercial Development, and Mining and Royalty Lands.
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