Farmland Partners Inc. (NYSE:FPI) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC boosted its holdings in Farmland Partners Inc. (NYSE:FPI) by 13.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,764 shares of the financial services provider’s stock after acquiring an additional 1,934 shares during the period. Park Avenue Securities LLC’s holdings in Farmland Partners were worth $187,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FPI. Westwood Holdings Group Inc. acquired a new position in Farmland Partners in the fourth quarter valued at approximately $4,704,000. Raymond James Financial Inc. purchased a new stake in Farmland Partners in the fourth quarter valued at approximately $3,490,000. Global Alpha Capital Management Ltd. raised its position in Farmland Partners by 9.2% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 3,387,769 shares of the financial services provider’s stock valued at $39,840,000 after purchasing an additional 284,000 shares during the period. JPMorgan Chase & Co. raised its position in Farmland Partners by 93.4% in the fourth quarter. JPMorgan Chase & Co. now owns 243,045 shares of the financial services provider’s stock valued at $2,858,000 after purchasing an additional 117,350 shares during the period. Finally, Millennium Management LLC purchased a new stake in Farmland Partners in the fourth quarter valued at approximately $635,000. 58.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Farmland Partners from a “sell” rating to a “hold” rating in a research report on Saturday, May 31st.

Farmland Partners Trading Up 0.6%

Farmland Partners stock opened at $11.48 on Tuesday. Farmland Partners Inc. has a twelve month low of $9.66 and a twelve month high of $12.87. The stock’s fifty day simple moving average is $10.58 and its 200-day simple moving average is $11.23. The firm has a market capitalization of $528.10 million, a P/E ratio of 11.48 and a beta of 0.84.

Farmland Partners (NYSE:FPI) last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Farmland Partners had a return on equity of 11.47% and a net margin of 102.89%. The company had revenue of $6.97 million for the quarter, compared to analysts’ expectations of $9.49 million. Sell-side analysts predict that Farmland Partners Inc. will post 0.13 earnings per share for the current year.

Farmland Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Tuesday, July 1st. Farmland Partners’s dividend payout ratio (DPR) is presently 23.53%.

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.