Farmland Partners (NYSE:FPI) Shares Gap Up to $10.31

Shares of Farmland Partners Inc. (NYSE:FPI) gapped up prior to trading on Thursday . The stock had previously closed at $10.31, but opened at $10.70. Farmland Partners shares last traded at $10.74, with a volume of 81,253 shares.

Analyst Ratings Changes

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

Farmland Partners Trading Up 4.2 %

The company has a fifty day moving average of $10.26 and a 200-day moving average of $10.79. The stock has a market cap of $517.31 million, a PE ratio of 21.29 and a beta of 0.71.

Farmland Partners (NYSE:FPI) last issued 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). Farmland Partners had a return on equity of 3.97% and a net margin of 36.89%. The business had revenue of $11.45 million for the quarter, compared to analysts’ expectations of $11.84 million. During the same quarter last year, the company earned ($0.02) earnings per share. As a group, research analysts anticipate that Farmland Partners Inc. will post 0.18 earnings per share for the current fiscal year.

Farmland Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.24 annualized dividend and a yield of 2.23%. Farmland Partners’s dividend payout ratio is presently 47.06%.

Insiders Place Their Bets

In related news, Director John A. Good acquired 24,000 shares of Farmland Partners stock in a transaction dated Wednesday, August 7th. The shares were acquired 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 owns 86,465 shares in the company, valued at $877,619.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC purchased a new position in shares of Farmland Partners in the 1st quarter valued at about $35,000. EntryPoint Capital LLC raised its holdings in Farmland Partners by 68.9% in the first 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 in the last quarter. SG Americas Securities LLC purchased a new position in Farmland Partners in the second quarter worth approximately $101,000. Park Avenue Securities LLC acquired a new position in Farmland Partners during the 1st quarter worth approximately $117,000. Finally, MQS Management LLC purchased a new stake in shares of Farmland Partners in the 2nd quarter valued at approximately $134,000. 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.