Evercore ISI reaffirmed their buy rating on shares of Five Point (NYSE:FPH) in a research report sent to investors on Tuesday, AnalystRatings.com reports.
“We note that this is the next step in the company’s goal of establishing FivePoint as a destination brand. FPH’s Great Park has already become a destination for amateur sports (with its sports complex that is 2.5x the size of Disneyland) and entertainment (through its partnership with Live Nation). Now, the coming investment by City of Hope positions FivePoint to be identified as a wellness destination as well. ? 2Q19 land sales at Great Park totaled 60 lots for $30.3mm, which represented the second takedown of land sales announced in 1Q.”,” the firm’s analyst commented.
A number of other equities analysts have also recently issued reports on FPH. TheStreet upgraded Five Point from a d+ rating to a c- rating in a report on Wednesday, May 8th. Zacks Investment Research cut Five Point from a buy rating to a hold rating in a research note on Saturday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $9.35.
Five Point (NYSE:FPH) last issued its earnings results on Thursday, August 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.10). Five Point had a negative return on equity of 2.64% and a negative net margin of 23.77%. The firm had revenue of $12.39 million during the quarter, compared to the consensus estimate of $12.68 million. Sell-side analysts anticipate that Five Point will post -0.04 EPS for the current year.
A number of large investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in shares of Five Point by 118.6% in the fourth quarter. Bank of New York Mellon Corp now owns 193,183 shares of the company’s stock valued at $1,341,000 after purchasing an additional 104,823 shares during the last quarter. Northern Trust Corp boosted its position in shares of Five Point by 17.7% in the fourth quarter. Northern Trust Corp now owns 14,967 shares of the company’s stock valued at $104,000 after acquiring an additional 2,256 shares during the period. Geode Capital Management LLC boosted its position in shares of Five Point by 11.1% in the fourth quarter. Geode Capital Management LLC now owns 50,000 shares of the company’s stock valued at $347,000 after acquiring an additional 5,000 shares during the period. First Manhattan Co. boosted its position in shares of Five Point by 50.0% in the first quarter. First Manhattan Co. now owns 15,000 shares of the company’s stock valued at $108,000 after acquiring an additional 5,000 shares during the period. Finally, Cubic Asset Management LLC boosted its position in shares of Five Point by 7.4% in the first quarter. Cubic Asset Management LLC now owns 37,060 shares of the company’s stock valued at $267,000 after acquiring an additional 2,550 shares during the period. Institutional investors and hedge funds own 34.01% of the company’s stock.
About Five Point
Five Point Holdings, LLC, through its subsidiary, Five Point Operating Company, LP, plans, develops, and owns mixed-use communities in California, the United States. The company operates through four segments: Newhall, San Francisco, Great Park, and Commercial. It sells residential and commercial land sites to homebuilders, commercial developers, and commercial buyers; operates properties; and provides development management services.
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