Farmland Partners (NYSE:FPI) Shares Gap Up - Time to Buy?

Farmland Partners Inc. (NYSE:FPI - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $10.31, but opened at $10.70. Farmland Partners shares last traded at $10.74, with a volume of 81,253 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Farmland Partners from a "hold" rating to a "sell" rating in a research note on Thursday, July 25th.

Farmland Partners Trading Up 4.4 %

The stock has a market capitalization of $518.28 million, a PE ratio of 21.06 and a beta of 0.71. The company's 50-day moving average is $10.26 and its 200 day moving average is $10.79.

Farmland Partners (NYSE:FPI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). Farmland Partners had a return on equity of 3.97% and a net margin of 36.89%. The company had revenue of $11.45 million for the quarter, compared to analyst estimates of $11.84 million. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. Sell-side analysts forecast that Farmland Partners Inc. will post 0.18 EPS for the current fiscal year.

Farmland Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Tuesday, October 1st. Farmland Partners's dividend payout ratio is presently 47.06%.

Insider Buying and Selling at Farmland Partners

In other Farmland Partners news, Director John A. Good bought 24,000 shares of Farmland Partners stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $10.15 per share, with a total value of $243,600.00. Following the completion of the acquisition, the director now directly owns 86,465 shares in the company, valued at approximately $877,619.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.30% of the company's stock.

Institutional Trading of Farmland Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Annex Advisory Services LLC acquired a new stake in shares of Farmland Partners during the 4th quarter worth approximately $459,000. Park Avenue Securities LLC acquired a new stake in Farmland Partners during the first quarter valued at $117,000. Red Door Wealth Management LLC purchased a new position in Farmland Partners in the first quarter valued at $444,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Farmland Partners in the first quarter worth about $196,000. Finally, Millburn Ridgefield Corp boosted its stake in shares of Farmland Partners by 6.9% during the 1st quarter. Millburn Ridgefield Corp now owns 15,719 shares of the financial services provider's stock worth $174,000 after acquiring an additional 1,017 shares in the last quarter. 58.00% of the stock is 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.