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

Farmland Partners Inc. (NYSE:FPI)’s stock price 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 traded.

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

Wall Street Analysts Forecast Growth

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

Farmland Partners Stock Up 3.7 %

The company’s 50-day simple moving average is $11.82 and its 200-day simple moving average is $11.11. The stock has a market cap of $608.87 million, a price-to-earnings ratio of 45.14 and a beta of 0.70.

Institutional Investors Weigh In On Farmland Partners

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of Farmland Partners in the 2nd quarter valued at approximately $101,000. GSA Capital Partners LLP purchased a new stake in shares of Farmland Partners in the third quarter valued at $105,000. Point72 Asset Management L.P. purchased a new stake in shares of Farmland Partners in the third quarter valued at $111,000. D.A. Davidson & CO. boosted its position in shares of Farmland Partners by 11.3% in the third quarter. D.A. Davidson & CO. now owns 11,639 shares of the financial services provider’s stock worth $122,000 after buying an additional 1,182 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Farmland Partners during the third quarter valued at $123,000. 58.00% of the stock is owned by hedge funds and other 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.