FRP Holdings (FRPH) announced that it has approved the strategic separation of its transportation business, known as Patriot Transportation Holding (PATI) from its real estate business. FRPH’s real estate business will continue under the name FRP Holdings, Inc.
After the distribution, New Patriot will be an independent company, and FRPH will retain no ownership interest. New Patriot has received approval for the listing of its common stock on NASDAQ and will begin trading under the symbol “PATI” on February 2, 2015. Source
