Rhumbline Advisers Sells 3,551 Shares of Farmland Partners Inc. (NYSE:FPI)

Rhumbline Advisers trimmed its holdings in Farmland Partners Inc. (NYSE:FPI) by 4.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 76,215 shares of the financial services provider’s stock after selling 3,551 shares during the quarter. Rhumbline Advisers owned 0.17% of Farmland Partners worth $850,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FPI. Steward Partners Investment Advisory LLC lifted its holdings in shares of Farmland Partners by 470.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,944 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 2,428 shares during the last quarter. Promus Capital LLC bought a new stake in shares of Farmland Partners in the 4th quarter worth approximately $56,000. GAMMA Investing LLC lifted its holdings in shares of Farmland Partners by 2,102.9% in the 1st quarter. GAMMA Investing LLC now owns 9,076 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 8,664 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Farmland Partners in the 4th quarter worth approximately $104,000. Finally, Meriwether Wealth & Planning LLC purchased a new position in shares of Farmland Partners in the fourth quarter worth $119,000. 58.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Farmland Partners Stock Down 0.9%

Shares of NYSE FPI opened at $11.26 on Friday. Farmland Partners Inc. has a 52 week low of $9.66 and a 52 week high of $12.87. The firm’s fifty day moving average is $10.68 and its 200 day moving average is $11.21. The company has a market cap of $517.62 million, a price-to-earnings ratio of 11.03 and a beta of 0.84.

Farmland Partners (NYSE:FPI) last issued its earnings results on Wednesday, May 7th. The financial services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Farmland Partners had a return on equity of 11.95% and a net margin of 107.24%. The firm had revenue of $6.97 million during the quarter, compared to analysts’ expectations of $9.49 million. Equities research analysts anticipate that Farmland Partners Inc. will post 0.13 earnings per share for the current year.

Farmland Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Tuesday, July 1st. Farmland Partners’s payout ratio is 23.53%.

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.