Farmland Partners (NYSE:FPI) Cut to Sell at StockNews.com

StockNews.com lowered shares of Farmland Partners (NYSE:FPI) from a hold rating to a sell rating in a research report sent to investors on Thursday.

Farmland Partners Price Performance

Shares of Farmland Partners stock opened at $12.41 on Thursday. The business’s fifty day moving average price is $11.77 and its two-hundred day moving average price is $11.33. The company has a market capitalization of $597.59 million, a P/E ratio of 12.41 and a beta of 0.69. Farmland Partners has a 1-year low of $9.70 and a 1-year high of $12.87.

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

Farmland Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend yield of 1.93%. The ex-dividend date is Tuesday, April 1st. Farmland Partners’s dividend payout ratio is presently 24.00%.

Insider Transactions at Farmland Partners

In other news, Director John A. Good acquired 15,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were bought at an average price of $12.23 per share, with a total value of $183,450.00. Following the purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.30% of the company’s stock.

Institutional Trading of Farmland Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Westwood Holdings Group Inc. acquired a new stake in shares of Farmland Partners during the fourth quarter worth $4,704,000. Raymond James Financial Inc. acquired a new stake in shares of Farmland Partners during the fourth quarter worth $3,490,000. Global Alpha Capital Management Ltd. raised its position in shares of 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 purchasing an additional 284,000 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Farmland Partners by 6.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,672,919 shares of the financial services provider’s stock worth $38,382,000 after purchasing an additional 211,181 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Farmland Partners by 93.4% during the fourth quarter. JPMorgan Chase & Co. now owns 243,045 shares of the financial services provider’s stock worth $2,858,000 after purchasing an additional 117,350 shares during the period. Institutional investors own 58.00% of the company’s stock.

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.