Farmland Partners Inc. (NYSE:FPI) Short Interest Update

Farmland Partners Inc. (NYSE:FPIGet Rating) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 1,420,000 shares, a growth of 6.0% from the August 15th total of 1,340,000 shares. Based on an average daily trading volume, of 527,400 shares, the short-interest ratio is presently 2.7 days.

Analysts Set New Price Targets

FPI has been the subject of several analyst reports. StockNews.com downgraded shares of Farmland Partners from a “hold” rating to a “sell” rating in a report on Thursday, September 15th. Raymond James raised their price target on shares of Farmland Partners from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, September 14th. Finally, Roth Capital assumed coverage on shares of Farmland Partners in a report on Tuesday, June 21st. They set a “buy” rating and a $16.00 price objective for the company.

Farmland Partners Price Performance

Shares of NYSE FPI opened at $14.20 on Thursday. Farmland Partners has a 1 year low of $10.62 and a 1 year high of $16.43. The company’s 50-day moving average is $14.46 and its 200 day moving average is $14.32. The stock has a market capitalization of $771.02 million, a P/E ratio of 1,420.00 and a beta of 0.72.

Farmland Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Saturday, October 1st will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, September 29th. Farmland Partners’s dividend payout ratio is currently 2,400.00%.

Hedge Funds Weigh In On Farmland Partners

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Global Alpha Capital Management Ltd. increased its position in shares of Farmland Partners by 14.6% during the first quarter. Global Alpha Capital Management Ltd. now owns 3,160,363 shares of the financial services provider’s stock valued at $43,455,000 after buying an additional 403,400 shares during the period. Millennium Management LLC boosted its stake in Farmland Partners by 63.8% during the second quarter. Millennium Management LLC now owns 1,008,189 shares of the financial services provider’s stock worth $13,913,000 after acquiring an additional 392,727 shares in the last quarter. State Street Corp boosted its stake in Farmland Partners by 48.3% during the second quarter. State Street Corp now owns 824,469 shares of the financial services provider’s stock worth $11,425,000 after acquiring an additional 268,477 shares in the last quarter. Bank of Montreal Can boosted its stake in Farmland Partners by 443.7% during the fourth quarter. Bank of Montreal Can now owns 474,105 shares of the financial services provider’s stock worth $5,718,000 after acquiring an additional 386,905 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Farmland Partners by 462.9% during the fourth quarter. Renaissance Technologies LLC now owns 468,357 shares of the financial services provider’s stock worth $5,597,000 after acquiring an additional 385,157 shares in the last quarter. Hedge funds and other institutional investors own 42.52% of the company’s stock.

Farmland Partners Company Profile

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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 the date of this release, the Company owns approximately 155,000 acres in 16 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota and Virginia.

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