Farmland Partners (NYSE:FPI) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Farmland Partners (NYSE:FPI) from a hold rating to a sell rating in a research report report published on Friday morning.

Farmland Partners Stock Up 1.5%

Shares of FPI opened at $11.0250 on Friday. Farmland Partners has a 12-month low of $9.66 and a 12-month high of $12.87. The business has a 50-day simple moving average of $11.11 and a two-hundred day simple moving average of $10.97. The stock has a market cap of $495.13 million, a PE ratio of 9.04 and a beta of 0.84.

Farmland Partners (NYSE:FPI) last posted its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $6.02 million during the quarter, compared to analyst estimates of $9.50 million. Farmland Partners had a net margin of 127.59% and a return on equity of 14.18%. Farmland Partners has set its FY 2025 guidance at 0.280-0.340 EPS. On average, equities research analysts expect that Farmland Partners will post 0.13 EPS for the current year.

Farmland Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, October 1st. Farmland Partners’s dividend payout ratio is presently 19.67%.

Institutional Trading of Farmland Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its position in shares of Farmland Partners by 92.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 37,985 shares of the financial services provider’s stock worth $424,000 after buying an additional 18,207 shares during the period. Millennium Management LLC acquired a new stake in Farmland Partners in the fourth quarter worth $635,000. Global Alpha Capital Management Ltd. grew its holdings in Farmland Partners by 2.3% in the first quarter. Global Alpha Capital Management Ltd. now owns 3,465,969 shares of the financial services provider’s stock worth $38,646,000 after purchasing an additional 78,200 shares during the period. Northern Trust Corp grew its holdings in Farmland Partners by 8.6% in the fourth quarter. Northern Trust Corp now owns 455,094 shares of the financial services provider’s stock worth $5,352,000 after purchasing an additional 35,993 shares during the period. Finally, Park Avenue Securities LLC grew its holdings in Farmland Partners by 13.0% in the first quarter. Park Avenue Securities LLC now owns 16,764 shares of the financial services provider’s stock worth $187,000 after purchasing an additional 1,934 shares during the period. 58.00% of the stock is currently owned by institutional investors and hedge funds.

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.