Farmland Partners Inc. (NYSE:FPI - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $12.19, but opened at $12.71. Farmland Partners shares last traded at $12.56, with a volume of 56,606 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded Farmland Partners from a "sell" rating to a "hold" rating in a report on Saturday, November 9th.
Check Out Our Latest Stock Report on Farmland Partners
Farmland Partners Price Performance
The company's 50-day simple moving average is $11.82 and its 200 day simple moving average is $11.11. The firm has a market cap of $608.87 million, a P/E ratio of 45.20 and a beta of 0.70.
Farmland Partners Increases Dividend
The business also recently disclosed a dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Monday, December 23rd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, December 23rd. This is an increase from Farmland Partners's previous dividend of $0.13. Farmland Partners's dividend payout ratio is 85.71%.
Hedge Funds Weigh In On Farmland Partners
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its position in Farmland Partners by 6.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,461,738 shares of the financial services provider's stock worth $39,914,000 after buying an additional 202,264 shares during the last quarter. Accordant Advisory Group Inc lifted its holdings in shares of Farmland Partners by 56.9% in the 3rd quarter. Accordant Advisory Group Inc now owns 812,976 shares of the financial services provider's stock worth $8,496,000 after acquiring an additional 294,980 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Farmland Partners during the 2nd quarter worth about $1,853,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Farmland Partners by 11.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,855 shares of the financial services provider's stock worth $143,000 after purchasing an additional 1,286 shares during the period. Finally, SG Americas Securities LLC bought a new position in Farmland Partners during the 2nd quarter valued at about $101,000. Hedge funds and other institutional investors own 58.00% of the company's stock.
About Farmland Partners
(
Get 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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