Farmland Partners Inc. (NYSE:FPI) Position Reduced by Garner Asset Management Corp

Garner Asset Management Corp trimmed its position in shares of Farmland Partners Inc. (NYSE:FPI - Free Report) by 58.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,408 shares of the financial services provider's stock after selling 157,389 shares during the period. Garner Asset Management Corp owned 0.23% of Farmland Partners worth $1,322,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stifel Financial Corp boosted its position in shares of Farmland Partners by 130.0% during the third quarter. Stifel Financial Corp now owns 111,254 shares of the financial services provider's stock worth $1,163,000 after buying an additional 62,875 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Farmland Partners by 27.8% during the third quarter. JPMorgan Chase & Co. now owns 125,695 shares of the financial services provider's stock valued at $1,314,000 after purchasing an additional 27,373 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Farmland Partners by 67.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 56,439 shares of the financial services provider's stock valued at $730,000 after purchasing an additional 22,774 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Farmland Partners by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 370,291 shares of the financial services provider's stock worth $3,870,000 after purchasing an additional 19,805 shares during the period. Finally, Global Alpha Capital Management Ltd. grew its position in Farmland Partners by 9.2% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 3,387,769 shares of the financial services provider's stock valued at $39,840,000 after buying an additional 284,000 shares in the last quarter. 58.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Farmland Partners from a "sell" rating to a "hold" rating in a research report on Friday, February 28th.

Farmland Partners Stock Performance

Shares of FPI stock traded down $0.04 during mid-day trading on Friday, hitting $10.00. 350,161 shares of the stock traded hands, compared to its average volume of 340,352. The firm has a market cap of $459.67 million, a price-to-earnings ratio of 10.00 and a beta of 0.78. The company's 50-day simple moving average is $11.05 and its 200-day simple moving average is $11.49. Farmland Partners Inc. has a twelve month low of $9.66 and a twelve month high of $12.87.

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 the consensus estimate 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 analysts' expectations of $20.29 million. Analysts forecast that Farmland Partners Inc. will post 0.13 earnings per share for the current year.

Farmland Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.24 annualized dividend and a dividend yield of 2.40%. Farmland Partners's dividend payout ratio is currently 24.00%.

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.