Farmland Partners (NYSE:FPI) Shares Gap Up Following Dividend Announcement

Shares of Farmland Partners Inc. (NYSE:FPI) gapped up prior to trading on Friday after the company announced a dividend. The stock had previously closed at $12.19, but opened at $12.71. Farmland Partners shares last traded at $12.56, with a volume of 56,606 shares trading hands.

The newly announced dividend which will be paid on Wednesday, January 8th. Investors of record on Monday, December 23rd will be given a $1.15 dividend. This is a boost from Farmland Partners’s previous dividend of $0.13. The ex-dividend date is Monday, December 23rd. Farmland Partners’s dividend payout ratio (DPR) is presently 85.71%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Farmland Partners from a “sell” rating to a “hold” rating in a report on Saturday, November 9th.

Farmland Partners Price Performance

The company’s fifty day moving average price is $11.82 and its 200 day moving average price is $11.11. The company has a market cap of $608.87 million, a PE ratio of 45.14 and a beta of 0.70.

Institutional Trading of Farmland Partners

Hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in Farmland Partners by 11.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,855 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 1,286 shares during the period. SG Americas Securities LLC purchased a new position in Farmland Partners in the second quarter valued at approximately $101,000. Bank of New York Mellon Corp lifted its stake in Farmland Partners by 5.9% in the second quarter. Bank of New York Mellon Corp now owns 255,843 shares of the financial services provider’s stock valued at $2,950,000 after purchasing an additional 14,233 shares during the last quarter. Taylor Frigon Capital Management LLC grew its holdings in Farmland Partners by 1.0% during the second quarter. Taylor Frigon Capital Management LLC now owns 115,616 shares of the financial services provider’s stock valued at $1,333,000 after purchasing an additional 1,119 shares during the period. Finally, Capital Square LLC increased its position in Farmland Partners by 101.3% in the second quarter. Capital Square LLC now owns 38,488 shares of the financial services provider’s stock worth $446,000 after buying an additional 19,372 shares during the last quarter. 58.00% of the stock is currently owned by institutional investors.

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.