Farmland Partners (NYSE:FPI) Downgraded by StockNews.com to "Sell"

StockNews.com cut shares of Farmland Partners (NYSE:FPI - Free Report) from a hold rating to a sell rating in a report published on Thursday morning.

Farmland Partners Stock Down 4.5 %

NYSE:FPI traded down $0.57 during trading hours on Thursday, hitting $11.87. 1,734,892 shares of the company's stock traded hands, compared to its average volume of 291,704. Farmland Partners has a 52 week low of $9.70 and a 52 week high of $12.87. The firm has a market cap of $571.57 million, a P/E ratio of 11.87 and a beta of 0.69. The business's fifty day simple moving average is $11.77 and its two-hundred day simple moving average is $11.34.

Farmland Partners (NYSE:FPI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. Farmland Partners had a net margin of 102.89% and a return on equity of 11.47%. The firm had revenue of $21.47 million for the quarter, compared to analyst estimates of $20.29 million. On average, analysts expect that Farmland Partners will post 0.13 EPS for the current year.

Remove Ads

Farmland Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 2.02%. Farmland Partners's payout ratio is 24.00%.

Insider Buying and Selling

In other news, Director John A. Good acquired 15,000 shares of the firm's stock in a transaction on Thursday, December 19th. The shares were purchased 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 owns 101,465 shares of the company's stock, valued at $1,240,916.95. The trade was a 17.35 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is owned by corporate insiders.

Institutional Trading of Farmland Partners

Several large investors have recently modified their holdings of FPI. Massachusetts Financial Services Co. MA lifted its holdings in Farmland Partners by 1.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,725,249 shares of the financial services provider's stock worth $43,809,000 after buying an additional 52,330 shares during the period. Global Alpha Capital Management Ltd. lifted its stake in Farmland Partners by 9.2% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 3,387,769 shares of the financial services provider's stock worth $39,840,000 after acquiring an additional 284,000 shares during the period. State Street Corp boosted its holdings in Farmland Partners by 1.4% in the third quarter. State Street Corp now owns 1,136,755 shares of the financial services provider's stock valued at $11,879,000 after acquiring an additional 15,638 shares in the last quarter. Geode Capital Management LLC increased its position in Farmland Partners by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,136,338 shares of the financial services provider's stock valued at $11,877,000 after purchasing an additional 8,413 shares during the period. Finally, Accordant Advisory Group Inc raised its holdings in 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 purchasing an additional 80,736 shares in the last quarter. 58.00% of the stock is owned by institutional investors.

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.