Insider Buying: Farmland Partners Inc. (NYSE:FPI) Director Purchases 15,000 Shares of Stock

Farmland Partners Inc. (NYSE:FPI - Get Free Report) Director John A. Good purchased 15,000 shares of Farmland Partners stock in a transaction dated Thursday, December 19th. The shares were purchased at an average cost 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 approximately $1,240,916.95. This represents a 17.35 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Farmland Partners Stock Up 1.8 %

Shares of NYSE:FPI traded up $0.22 during midday trading on Friday, reaching $12.32. 1,170,332 shares of the company were exchanged, compared to its average volume of 333,891. Farmland Partners Inc. has a fifty-two week low of $9.70 and a fifty-two week high of $13.04. The stock has a fifty day simple moving average of $11.95 and a two-hundred day simple moving average of $11.15. The firm has a market cap of $593.49 million, a PE ratio of 44.00 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. Investors of record on Monday, December 23rd will be issued a dividend of $1.15 per share. This is a positive change from Farmland Partners's previous dividend of $0.13. The ex-dividend date is Monday, December 23rd. Farmland Partners's dividend payout ratio (DPR) is presently 85.71%.

Institutional Investors Weigh In On Farmland Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in Farmland Partners in the 2nd quarter valued at $101,000. GSA Capital Partners LLP acquired a new stake in Farmland Partners in the 3rd quarter valued at $105,000. Point72 Asset Management L.P. acquired a new stake in Farmland Partners in the 3rd quarter valued at $111,000. D.A. Davidson & CO. increased its stake in Farmland Partners by 11.3% in the 3rd quarter. D.A. Davidson & CO. now owns 11,639 shares of the financial services provider's stock valued at $122,000 after buying an additional 1,182 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in Farmland Partners in the 3rd quarter valued at $123,000. 58.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Farmland Partners from a "sell" rating to a "hold" rating in a report on Saturday, November 9th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.