Farmland Partners (NYSE:FPI) Hits New 1-Year High After Earnings Beat

Farmland Partners Inc. (NYSE:FPI - Get Free Report) hit a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $12.87 and last traded at $12.21, with a volume of 236404 shares. The stock had previously closed at $11.64.

The financial services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $21.47 million during the quarter, compared to the consensus estimate of $20.29 million. Farmland Partners had a return on equity of 11.47% and a net margin of 102.89%.

Farmland Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.24 annualized dividend and a dividend yield of 1.93%. Farmland Partners's dividend payout ratio (DPR) is presently 24.00%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Farmland Partners from a "hold" rating to a "sell" rating in a research report on Thursday.

Insider Buying and Selling at Farmland Partners

In other news, Director John A. Good bought 15,000 shares of the company's stock in a transaction dated Thursday, December 19th. The stock was bought at an average price of $12.23 per share, for a total transaction of $183,450.00. Following the completion of the transaction, the director now directly owns 101,465 shares in the company, valued at $1,240,916.95. The trade was a 17.35 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 8.30% of the company's stock.

Institutional Investors Weigh In On Farmland Partners

A number of institutional investors and hedge funds have recently made changes to their positions in FPI. Steward Partners Investment Advisory LLC grew its stake in shares of Farmland Partners by 470.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,944 shares of the financial services provider's stock worth $35,000 after purchasing an additional 2,428 shares during the period. Promus Capital LLC acquired a new position in Farmland Partners in the fourth quarter valued at about $56,000. KLP Kapitalforvaltning AS acquired a new position in Farmland Partners in the fourth quarter valued at about $104,000. GSA Capital Partners LLP bought a new stake in shares of Farmland Partners in the third quarter valued at about $105,000. Finally, Meriwether Wealth & Planning LLC bought a new stake in shares of Farmland Partners in the fourth quarter valued at about $119,000. Institutional investors own 58.00% of the company's stock.

Farmland Partners Stock Down 0.8 %

The company has a market capitalization of $597.55 million, a P/E ratio of 12.41 and a beta of 0.69. The business has a fifty day moving average price of $11.77 and a 200 day moving average price of $11.32.

Farmland Partners Company Profile

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.