Raymond James & Associates Sells 3,330 Shares of Farmland Partners Inc. (NYSE:FPI)

Raymond James & Associates lessened its position in shares of Farmland Partners Inc. (NYSE:FPI) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,578 shares of the financial services provider’s stock after selling 3,330 shares during the quarter. Raymond James & Associates’ holdings in Farmland Partners were worth $2,140,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FPI. Massachusetts Financial Services Co. MA grew its holdings in Farmland Partners by 18.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,755,880 shares of the financial services provider’s stock valued at $34,393,000 after buying an additional 419,879 shares in the last quarter. Red Door Wealth Management LLC purchased a new position in Farmland Partners during the 1st quarter valued at approximately $444,000. Annex Advisory Services LLC purchased a new position in Farmland Partners during the 4th quarter valued at approximately $459,000. International Assets Investment Management LLC purchased a new position in Farmland Partners during the 4th quarter valued at approximately $452,000. Finally, Quest Partners LLC purchased a new position in Farmland Partners during the 4th quarter valued at approximately $416,000. Hedge funds and other institutional investors own 58.00% of the company’s stock.

Insider Transactions at Farmland Partners

In related news, Director John A. Good bought 24,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average price of $10.15 per share, for a total transaction of $243,600.00. Following the acquisition, the director now owns 86,465 shares in the company, valued at $877,619.75. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 8.30% of the company’s stock.

Farmland Partners Stock Performance

Shares of Farmland Partners stock opened at $10.24 on Tuesday. The stock has a market cap of $493.23 million, a price-to-earnings ratio of 20.08 and a beta of 0.71. The stock has a 50 day moving average price of $10.73 and a 200-day moving average price of $10.91. Farmland Partners Inc. has a one year low of $9.70 and a one year high of $13.12.

Farmland Partners (NYSE:FPI) last announced its earnings results on Wednesday, July 24th. The financial services provider reported ($0.06) 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 quarter last year, the firm posted ($0.02) EPS. Sell-side analysts predict that Farmland Partners Inc. will post 0.19 earnings per share for the current fiscal year.

Farmland Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Tuesday, October 1st. Farmland Partners’s dividend payout ratio (DPR) is 47.06%.

Wall Street Analyst Weigh In

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

Farmland Partners 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.