Farmland Partners Inc. (NYSE:FPI) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its holdings in shares of Farmland Partners Inc. (NYSE:FPI) by 2.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 40,968 shares of the financial services provider’s stock after selling 1,147 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Farmland Partners were worth $472,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Red Door Wealth Management LLC bought a new position in Farmland Partners in the 1st quarter worth about $444,000. Annex Advisory Services LLC acquired a new stake in Farmland Partners during the fourth quarter valued at approximately $459,000. Quest Partners LLC acquired a new stake in Farmland Partners during the fourth quarter valued at approximately $416,000. Presima Securities ULC acquired a new stake in Farmland Partners during the fourth quarter valued at approximately $312,000. Finally, Accordant Advisory Group Inc lifted its stake in Farmland Partners by 4.7% during the second quarter. Accordant Advisory Group Inc now owns 517,996 shares of the financial services provider’s stock valued at $5,972,000 after purchasing an additional 23,389 shares during the last quarter. Institutional investors own 58.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Farmland Partners Price Performance

NYSE FPI opened at $10.49 on Friday. The company has a 50 day simple moving average of $10.45 and a 200-day simple moving average of $10.82. The firm has a market capitalization of $505.27 million, a price-to-earnings ratio of 20.57 and a beta of 0.71. Farmland Partners Inc. has a 52-week low of $9.70 and a 52-week high of $13.12.

Farmland Partners (NYSE:FPI) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). The company had revenue of $11.45 million during the quarter, compared to analysts’ expectations of $11.84 million. Farmland Partners had a return on equity of 3.97% and a net margin of 36.89%. During the same period last year, the company earned ($0.02) earnings per share. On average, analysts predict that Farmland Partners Inc. will post 0.18 EPS for the current year.

Farmland Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.29%. The ex-dividend date is Tuesday, October 1st. Farmland Partners’s payout ratio is presently 47.06%.

Insider Activity at Farmland Partners

In other Farmland Partners news, Director John A. Good acquired 24,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $10.15 per share, with a total value of $243,600.00. Following the completion of the transaction, the director now owns 86,465 shares in the company, valued at $877,619.75. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 8.30% of the company’s stock.

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.