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.
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
(
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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