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

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

Farmland Partners Trading Up 1.0 %

FPI opened at $11.73 on Friday. Farmland Partners has a 1-year low of $9.70 and a 1-year high of $12.87. The company has a market cap of $538.34 million, a P/E ratio of 11.73 and a beta of 0.69. The company has a fifty day moving average price of $11.72 and a two-hundred day moving average price of $11.37.

Farmland Partners (NYSE:FPI) last posted its quarterly 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. 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 during the quarter, compared to the consensus estimate of $20.29 million. On average, research analysts forecast that Farmland Partners will post 0.13 EPS for the current fiscal year.

Farmland Partners Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Tuesday, April 1st. Farmland Partners’s dividend payout ratio (DPR) is currently 24.00%.

Insider Transactions at Farmland Partners

In other Farmland Partners news, Director John A. Good bought 15,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was bought at an average cost of $12.23 per share, with a total value of $183,450.00. Following the completion of the transaction, the director now directly owns 101,465 shares in the company, valued at approximately $1,240,916.95. The trade was a 17.35 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 8.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Farmland Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Farmland Partners by 9.7% during the fourth 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 worth $1,302,000 after acquiring an additional 9,792 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in Farmland Partners in the 4th quarter worth about $4,704,000. ProShare Advisors LLC bought a new stake in Farmland Partners in the 4th quarter worth about $146,000. Millennium Management LLC bought a new stake in Farmland Partners in the 4th quarter worth about $635,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Farmland Partners by 4.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,230 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 1,064 shares in the last quarter. 58.00% of the stock is owned by institutional investors.

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.