Quest Partners LLC Increases Stake in Farmland Partners Inc. (NYSE:FPI)

Quest Partners LLC grew its holdings in shares of Farmland Partners Inc. (NYSE:FPI) by 6.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,692 shares of the financial services provider’s stock after purchasing an additional 3,022 shares during the quarter. Quest Partners LLC’s holdings in Farmland Partners were worth $608,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Lazard Asset Management LLC acquired a new position in Farmland Partners during the first quarter worth about $35,000. EntryPoint Capital LLC raised its holdings in Farmland Partners by 68.9% in the 1st quarter. EntryPoint Capital LLC now owns 4,801 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 1,959 shares during the last quarter. SG Americas Securities LLC purchased a new position in Farmland Partners in the 2nd quarter worth approximately $101,000. Principal Securities Inc. acquired a new position in shares of Farmland Partners during the 4th quarter worth approximately $110,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of Farmland Partners in the first quarter valued at approximately $117,000. Hedge funds and other institutional investors own 58.00% of the company’s stock.

Farmland Partners Trading Down 0.3 %

Farmland Partners stock opened at $10.15 on Thursday. The company has a 50-day moving average price of $10.58 and a 200 day moving average price of $10.86. Farmland Partners Inc. has a 12-month low of $9.70 and a 12-month high of $13.12. The stock has a market cap of $488.90 million, a P/E ratio of 19.90 and a beta of 0.71.

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

Farmland Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued 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 presently 47.06%.

Insider Buying and Selling

In related news, Director John A. Good bought 24,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were bought 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 directly owns 86,465 shares of the company’s stock, valued at approximately $877,619.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.