FRP Holdings, Inc. (NASDAQ:FRPH) Q1 2024 Earnings Call Transcript

Stephen Farrell: Thank you. And maybe I missed this. Was there any comment on rents for the Maren, Dock in Bryant Street?

David deVilliers: We did not report on any of those. As it relates to rents, what –you just want…

Stephen Farrell: Just renewals…

David deVilliers: Okay. At Dock and Maren, our renewals for the quarter were pretty strong. They were up, call it, 2.5% on both of those assets. Our South Carolina assets, 408 Jackson in Riverside, renewals were also strong. Renewals at 408 Jackson were about 3.5% and the trade-outs were 7.3%, Riverside was 1.6% on renewals and trade-outs were pretty flat, at Bryant Street, very strong, at Coda, renewals were 8.2% and trade-outs were 9.7% and Chase renewals were 4% and trade-outs were 7%. At Verge, it was relatively flat, it’s a new project, it hasn’t reached kind of occupancy and moved into our Multifamily segment, but excited where more things are going there.

Stephen Farrell: Great. That’s all I have. Thank you.

Operator: [Operator Instructions] And gentlemen, it appears we have no further questions this morning. Mr. Baker, I would like to turn things back to you for any closing comments.

John Baker: Thank you all and we appreciate your continued investment and interest in the company.

Operator: Thank you, Mr. Baker. Ladies and gentlemen, that will conclude today’s FRP Holdings first quarter 2024 earnings conference call. We would like to thank you all so much for joining us and wish you all a great day. Goodbye.