Wealth Enhancement Advisory Services LLC Increases Holdings in Farmland Partners Inc. (NYSE:FPI)

Wealth Enhancement Advisory Services LLC lifted its position in shares of Farmland Partners Inc. (NYSE:FPI) by 92.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,985 shares of the financial services provider’s stock after buying an additional 18,207 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.08% of Farmland Partners worth $424,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Farmland Partners by 4.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,230 shares of the financial services provider’s stock valued at $297,000 after buying an additional 1,064 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Farmland Partners by 3.0% during the 4th quarter. Gamco Investors INC. ET AL now owns 41,390 shares of the financial services provider’s stock valued at $487,000 after buying an additional 1,200 shares in the last quarter. Annex Advisory Services LLC raised its holdings in shares of Farmland Partners by 1.5% during the 1st quarter. Annex Advisory Services LLC now owns 102,483 shares of the financial services provider’s stock valued at $1,143,000 after buying an additional 1,550 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of Farmland Partners by 13.0% during the 1st quarter. Park Avenue Securities LLC now owns 16,764 shares of the financial services provider’s stock valued at $187,000 after buying an additional 1,934 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in 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 purchasing an additional 2,428 shares during the period. 58.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Farmland Partners from a “hold” rating to a “sell” rating in a research note on Saturday.

Farmland Partners Price Performance

Shares of Farmland Partners stock opened at $11.59 on Monday. The business’s 50 day simple moving average is $10.98 and its two-hundred day simple moving average is $11.14. The stock has a market capitalization of $533.02 million, a P/E ratio of 11.36 and a beta of 0.83. Farmland Partners Inc. has a one year low of $9.66 and a one year high of $12.87.

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

Farmland Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.07%. Farmland Partners’s dividend payout ratio is currently 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.