Ashton Thomas Private Wealth LLC Sells 1,779 Shares of Farmland Partners Inc. (NYSE:FPI)

Ashton Thomas Private Wealth LLC reduced its stake in Farmland Partners Inc. (NYSE:FPI) by 4.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 41,702 shares of the financial services provider’s stock after selling 1,779 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Farmland Partners were worth $481,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Quest Partners LLC raised its position in shares of Farmland Partners by 6.1% in the second quarter. Quest Partners LLC now owns 52,692 shares of the financial services provider’s stock valued at $608,000 after purchasing an additional 3,022 shares during the period. TAP Consulting LLC grew its stake in Farmland Partners by 12.5% in the 2nd quarter. TAP Consulting LLC now owns 134,959 shares of the financial services provider’s stock valued at $1,556,000 after buying an additional 15,024 shares during the last quarter. Pier 88 Investment Partners LLC grew its stake in Farmland Partners by 29.6% in the 2nd quarter. Pier 88 Investment Partners LLC now owns 115,488 shares of the financial services provider’s stock valued at $1,332,000 after buying an additional 26,400 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Farmland Partners in the 2nd quarter worth $1,853,000. Finally, Capital Square LLC lifted its position in Farmland Partners by 101.3% during the 2nd quarter. Capital Square LLC now owns 38,488 shares of the financial services provider’s stock worth $446,000 after acquiring an additional 19,372 shares during the last quarter. Institutional investors own 58.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Farmland Partners from a “hold” rating to a “sell” rating in a report on Thursday, July 25th.

Farmland Partners Stock Down 0.3 %

FPI opened at $10.15 on Thursday. Farmland Partners Inc. has a 12-month low of $9.70 and a 12-month high of $13.12. The firm has a market capitalization of $488.90 million, a P/E ratio of 19.90 and a beta of 0.71. The stock’s 50 day moving average price is $10.58 and its two-hundred day moving average price is $10.86.

Farmland Partners (NYSE:FPI) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07). The company had revenue of $11.45 million during the quarter, compared to analyst estimates of $11.84 million. Farmland Partners had a return on equity of 3.97% and a net margin of 36.89%. During the same quarter in the previous year, the business posted ($0.02) EPS. As a group, analysts anticipate that Farmland Partners Inc. will post 0.2 earnings per share for the current year.

Farmland Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 dividend yield of 2.36%. The ex-dividend date is Tuesday, October 1st. Farmland Partners’s dividend payout ratio is currently 47.06%.

Insider Activity

In other news, Director John A. Good purchased 24,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average cost of $10.15 per share, for a total transaction of $243,600.00. Following the completion of the purchase, the director now directly owns 86,465 shares of the company’s stock, valued at approximately $877,619.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 8.30% of the stock is owned by company insiders.

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.