Allspring Global Investments Holdings LLC purchased a new stake in Farmland Partners Inc. (NYSE:FPI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 43,470 shares of the financial services provider's stock, valued at approximately $511,000. Allspring Global Investments Holdings LLC owned approximately 0.09% of Farmland Partners as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Farmland Partners by 6.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,672,919 shares of the financial services provider's stock valued at $38,382,000 after acquiring an additional 211,181 shares during the period. Accordant Advisory Group Inc boosted its holdings in shares of Farmland Partners by 9.9% in the 4th quarter. Accordant Advisory Group Inc now owns 893,712 shares of the financial services provider's stock worth $10,510,000 after acquiring an additional 80,736 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Farmland Partners by 130.0% during the third quarter. Stifel Financial Corp now owns 111,254 shares of the financial services provider's stock worth $1,163,000 after purchasing an additional 62,875 shares during the last quarter. Barclays PLC increased its position in Farmland Partners by 221.7% in the 3rd quarter. Barclays PLC now owns 68,150 shares of the financial services provider's stock valued at $712,000 after acquiring an additional 46,968 shares in the last quarter. Finally, Annex Advisory Services LLC raised its stake in shares of Farmland Partners by 41.1% in the fourth quarter. Annex Advisory Services LLC now owns 100,933 shares of the financial services provider's stock worth $1,187,000 after acquiring an additional 29,424 shares during the last quarter. Institutional investors own 58.00% of the company's stock.
Analysts Set New Price Targets
Separately, StockNews.com upgraded Farmland Partners from a "sell" rating to a "hold" rating in a research report on Friday.
Read Our Latest Report on FPI
Farmland Partners Price Performance
Shares of FPI stock traded up $0.12 during trading hours on Friday, reaching $11.73. The company had a trading volume of 398,559 shares, compared to its average volume of 320,158. Farmland Partners Inc. has a 1-year low of $9.70 and a 1-year high of $12.87. The firm has a market cap of $538.34 million, a price-to-earnings ratio of 11.73 and a beta of 0.69. The company has a 50 day moving average of $11.72 and a 200 day moving average of $11.37.
Farmland Partners (NYSE:FPI - Get Free Report) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. The firm had revenue of $21.47 million for the quarter, compared to analyst estimates of $20.29 million. Farmland Partners had a return on equity of 11.47% and a net margin of 102.89%. As a group, sell-side analysts forecast that Farmland Partners Inc. will post 0.13 EPS for the current fiscal year.
Farmland Partners Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.06 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.24 annualized dividend and a yield of 2.05%. Farmland Partners's dividend payout ratio is presently 24.00%.
Insider Buying and Selling at Farmland Partners
In related news, Director John A. Good acquired 15,000 shares of the stock in a transaction dated Thursday, December 19th. The stock was bought at an average price of $12.23 per share, with a total value of $183,450.00. Following the completion of the transaction, the director now directly owns 101,465 shares of the company's stock, valued at approximately $1,240,916.95. The trade was a 17.35 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.30% of the company's stock.
Farmland Partners Profile
(
Free Report)
Farmland Partners Inc is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate. As of December 31, 2023, the Company owns and/or manages approximately 171,100 acres in 16 states, including Arkansas, California, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Nebraska, North Carolina, Oklahoma, South Carolina and Texas.
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