Geode Capital Management LLC Sells 58,671 Shares of Farmland Partners Inc. $FPI

Geode Capital Management LLC lessened its stake in shares of Farmland Partners Inc. (NYSE:FPI) by 5.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,090,546 shares of the financial services provider’s stock after selling 58,671 shares during the quarter. Geode Capital Management LLC owned approximately 2.43% of Farmland Partners worth $12,554,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FPI. Cetera Investment Advisers raised its holdings in Farmland Partners by 9.0% in the 1st quarter. Cetera Investment Advisers now owns 31,841 shares of the financial services provider’s stock valued at $355,000 after buying an additional 2,624 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Farmland Partners in the 1st quarter valued at approximately $109,000. Charles Schwab Investment Management Inc. raised its stake in shares of Farmland Partners by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 376,468 shares of the financial services provider’s stock valued at $4,198,000 after acquiring an additional 2,613 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Farmland Partners by 0.4% during the first quarter. Deutsche Bank AG now owns 878,591 shares of the financial services provider’s stock valued at $9,796,000 after acquiring an additional 3,833 shares during the last quarter. Finally, LaSalle St. Investment Advisors LLC acquired a new position in shares of Farmland Partners during the first quarter worth $140,000. 58.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FPI shares. Weiss Ratings restated a “sell (d+)” rating on shares of Farmland Partners in a report on Monday. Wall Street Zen downgraded Farmland Partners from a “hold” rating to a “sell” rating in a report on Saturday, September 20th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Farmland Partners Trading Up 1.2%

Shares of FPI opened at $9.84 on Wednesday. The stock has a market capitalization of $424.02 million, a P/E ratio of 8.20 and a beta of 0.76. The firm’s fifty day simple moving average is $10.12 and its two-hundred day simple moving average is $10.74. Farmland Partners Inc. has a 12 month low of $9.36 and a 12 month high of $12.87.

Farmland Partners (NYSE:FPI) last posted its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The firm had revenue of $11.25 million during the quarter, compared to analyst estimates of $10.59 million. Farmland Partners had a return on equity of 14.37% and a net margin of 130.10%.Farmland Partners has set its FY 2025 guidance at 0.320-0.360 EPS. As a group, research analysts predict that Farmland Partners Inc. will post 0.13 EPS for the current fiscal year.

Farmland Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, January 2nd. Farmland Partners’s payout ratio is presently 20.00%.

Farmland Partners 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.