Zacks Investment Research upgraded shares of Five Point (NYSE:FPH) from a hold rating to a strong-buy rating in a report released on Wednesday. Zacks Investment Research currently has $16.00 target price on the stock.
According to Zacks, “Five Point Holdings LLC, designs and develops mixed-use, master-planned communities primarily in coastal California. It offer homes, commercial, retail, educational and recreational elements as well as civic areas, parks and open spaces. The company’s communities consist of Great Park Neighborhoods(R) in Irvine, Newhall Ranch(R) near Valencia and The San Francisco Shipyard/Candlestick Point in the City of San Francisco. Five Point Holdings LLC is headquartered in Aliso Viejo, California. “
Separately, Royal Bank of Canada reiterated a buy rating and set a $20.00 price objective on shares of Five Point in a research report on Monday, April 2nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $19.25.
Five Point (NYSE:FPH) last announced its quarterly earnings data on Friday, March 30th. The company reported ($0.06) EPS for the quarter. Five Point had a negative return on equity of 2.30% and a negative net margin of 18.83%. The company had revenue of $22.26 million for the quarter, compared to analysts’ expectations of $9.10 million. analysts forecast that Five Point will post -0.25 EPS for the current year.
A number of institutional investors have recently made changes to their positions in FPH. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Five Point during the third quarter worth approximately $275,000. Maltese Capital Management LLC purchased a new stake in Five Point in the third quarter valued at $3,819,000. Neuberger Berman Group LLC raised its position in Five Point by 35.5% in the third quarter. Neuberger Berman Group LLC now owns 4,805,626 shares of the company’s stock valued at $65,548,000 after purchasing an additional 1,257,802 shares during the period. Teacher Retirement System of Texas purchased a new stake in Five Point in the fourth quarter valued at $164,000. Finally, Swiss National Bank purchased a new stake in Five Point in the fourth quarter valued at $822,000. Hedge funds and other institutional investors own 34.47% of the company’s stock.
About Five Point
Five Point Holdings, LLC, through its subsidiary, Five Point Operating Company, LLC, plans and develops mixed-use, master-planned communities in coastal California, the United States. It sells residential and commercial land sites to homebuilders, commercial developers, and commercial buyers. The company was formerly known as Newhall Holding Company, LLC and changed its name to Five Point Holdings, LLC in May 2016.
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