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FRP Source : FRP Holdings , Inc. November 03 , 2021 11:43 ET FRP Holdings , Inc. ( NASDAQ : FRPH ) Announces Results for the Third Quarter and Nine Months Ended September 30 , 2021 JACKSONVILLE , Fla . , Nov. 03 , 2021 ( GLOBE NEWSWIRE ) -- FRP Holdings , Inc. ( NASDAQ - FRPH ) Third Quarter Operational Highlights • Dock 79 ended the reporting period with residential occupancy above 94 % for the fourth straight quarter • Leasing efforts have begun at Riverside as well as the second building at Bryant Street , Chase 1B • Average residential occupancy above 95 % for the quarter for both Dock 79 and The Maren • Both Dock 79 and The Maren are now 100 % commercially leased Third Quarter Consolidated Results of Operations Net income attributable to the Company for the third quarter of 2021 was $ 352,000 or $ .04 per share versus $ 5,455,000 or $ .57 per share in the same period last year . The third quarter of 2021 was impacted by the following items : • Interest income decreased $ 871,000 due to bond maturities and the repayment of the Company's preferred interest in The Maren upon the building's refinancing . • Interest expense increased $ 368,000 due to interest on The Maren's debt , partially offset by a lower interest rate on the refinanced Dock 79 debt . • Gain from sale of real estate decreased $ 5,732,000 because of two property sales during the same period last year . The sale of our building at 1801 62nd Street and 87 acres at Ft . Myers resulted in a gain of $ 5,732,000 in the third quarter of 2020 and there were no such gains this quarter to offset the decrease . Third Quarter Segment Operating Results Asset Management Segment : Total revenues in this segment were $ 619,000 , down $ 102,000 or 14.1 % , over the same period last year due to the sale of our warehouse 1801 62nd Street in July 2020 which had $ 59,000 of revenues in the same quarter last year . Operating loss was $ ( 11,000 ) , down $ 46,000 from an operating profit of $ 35,000 in the same quarter last year primarily due to the sale of 1801 62nd Street . Cranberry Run , which we purchased in the first quarter of 2019 , is a five - building industrial park in Harford County , Maryland totaling 267,737 square feet of industrial / flex space and at quarter end was 96.6 % leased and 68.6 % occupied compared to 78.6 % leased and occupied at the end of the same quarter last year . Our other two properties remain substantially leased during both periods , with 34 Loveton 95.1 % occupied and Vulcan's former Jacksonville office ( now a vacant lot ) , fully leased through March 2026 . Mining Royalty Lands Segment : Total revenues in this segment were $ 2,249,000 versus $ 2,507,000 in the same period last year . Total operating profit in this segment was $ 1,968,000 , a decrease of $ 270,000 versus $ 2,238,000 in the same period last year .