Farmland Partners (NYSE:FPI) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Farmland Partners (NYSE:FPI - Free Report) from a sell rating to a hold rating in a report released on Friday.

Farmland Partners Stock Performance

Shares of NYSE:FPI traded down $0.02 during midday trading on Friday, reaching $11.72. 268,683 shares of the company's stock traded hands, compared to its average volume of 318,276. The company has a fifty day simple moving average of $11.70 and a two-hundred day simple moving average of $11.40. Farmland Partners has a 1 year low of $9.70 and a 1 year high of $12.87. The company has a market cap of $537.65 million, a P/E ratio of 11.73 and a beta of 0.69.

Farmland Partners (NYSE:FPI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $21.47 million for the quarter, compared to the consensus estimate of $20.29 million. Farmland Partners had a net margin of 102.89% and a return on equity of 11.47%. As a group, research analysts forecast that Farmland Partners will post 0.13 EPS for the current fiscal year.

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Farmland Partners Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.05%. Farmland Partners's payout ratio is currently 24.00%.

Insider Transactions at Farmland Partners

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 bought at an average price of $12.23 per share, for a total transaction of $183,450.00. Following the acquisition, the director now owns 101,465 shares of the company's stock, valued at approximately $1,240,916.95. This trade represents a 17.35 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 8.30% of the company's stock.

Institutional Investors Weigh In On Farmland Partners

A number of hedge funds have recently modified their holdings of the business. Massachusetts Financial Services Co. MA raised 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 valued at $43,809,000 after acquiring an additional 52,330 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its position in Farmland Partners by 9.2% during 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 buying an additional 284,000 shares in the last quarter. State Street Corp increased its stake in shares of Farmland Partners by 1.4% in the 3rd quarter. State Street Corp now owns 1,136,755 shares of the financial services provider's stock worth $11,879,000 after acquiring an additional 15,638 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Farmland Partners by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,136,338 shares of the financial services provider's stock worth $11,877,000 after acquiring an additional 8,413 shares during the last quarter. Finally, Accordant Advisory Group Inc raised its holdings in shares of Farmland Partners by 9.9% during 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 during the period. 58.00% of the stock is currently owned by institutional investors and hedge funds.

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.