Farmland Partners (NYSE:FPI) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of Farmland Partners (NYSE:FPI) from a hold rating to a sell rating in a report issued on Thursday.

Farmland Partners Price Performance

Farmland Partners stock opened at $12.52 on Thursday. The stock has a market cap of $602.85 million, a price-to-earnings ratio of 44.70 and a beta of 0.69. The firm has a 50-day moving average of $11.77 and a two-hundred day moving average of $11.31. 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 quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $21.47 million during the quarter, compared to analyst estimates of $20.29 million. Farmland Partners had a return on equity of 3.53% and a net margin of 31.68%. Research analysts expect that Farmland Partners will post 0.19 earnings per share for the current year.

Farmland Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Tuesday, April 1st. Farmland Partners’s payout ratio is 85.71%.

Insider Buying and Selling

In other news, Director John A. Good bought 15,000 shares of the stock in a transaction on Thursday, December 19th. The stock was bought at an average cost of $12.23 per share, for a total transaction of $183,450.00. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Farmland Partners

A number of large investors have recently made changes to their positions in FPI. SG Americas Securities LLC increased its position in Farmland Partners by 82.6% during the 3rd quarter. SG Americas Securities LLC now owns 16,053 shares of the financial services provider’s stock valued at $168,000 after buying an additional 7,264 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Farmland Partners during the third quarter worth about $1,700,000. Taylor Frigon Capital Management LLC increased its holdings in shares of Farmland Partners by 5.3% during the third quarter. Taylor Frigon Capital Management LLC now owns 121,754 shares of the financial services provider’s stock valued at $1,272,000 after acquiring an additional 6,138 shares in the last quarter. Ballentine Partners LLC purchased a new position in shares of Farmland Partners in the 3rd quarter valued at approximately $197,000. Finally, State of New Jersey Common Pension Fund D boosted its stake in Farmland Partners by 10.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 194,088 shares of the financial services provider’s stock worth $2,028,000 after purchasing an additional 18,465 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.