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

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

Farmland Partners Stock Performance

Shares of FPI stock opened at $11.73 on Friday. Farmland Partners has a 52-week low of $9.70 and a 52-week high of $12.87. The company has a 50-day simple moving average of $11.72 and a two-hundred day simple moving average of $11.37. The company has a market capitalization of $538.34 million, a price-to-earnings ratio of 11.73 and a beta of 0.69.

Farmland Partners (NYSE:FPI) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $21.47 million for the quarter, compared to analysts’ expectations of $20.29 million. Farmland Partners had a net margin of 102.89% and a return on equity of 11.47%. On average, sell-side analysts forecast that Farmland Partners will post 0.13 EPS for the current fiscal year.

Farmland Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Tuesday, April 1st. Farmland Partners’s payout ratio is 24.00%.

Insider Buying and Selling at Farmland Partners

In other Farmland Partners news, Director John A. Good purchased 15,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average cost of $12.23 per share, for a total transaction of $183,450.00. Following the purchase, the director now owns 101,465 shares of the company’s stock, valued at $1,240,916.95. This represents a 17.35 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.30% of the company’s stock.

Institutional Trading of Farmland Partners

A number of institutional investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Farmland Partners by 9.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 110,722 shares of the financial services provider’s stock valued at $1,302,000 after buying an additional 9,792 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Farmland Partners during the 4th quarter valued at approximately $4,704,000. ProShare Advisors LLC purchased a new stake in shares of Farmland Partners during the 4th quarter valued at approximately $146,000. Millennium Management LLC purchased a new stake in shares of Farmland Partners during the 4th quarter valued at approximately $635,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Farmland Partners by 4.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,230 shares of the financial services provider’s stock valued at $297,000 after buying an additional 1,064 shares in the last quarter. 58.00% of the stock is currently owned by hedge funds and other institutional investors.

About Farmland Partners

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.