Farmland Partners (NYSE:FPI) Share Price Passes Above 50-Day Moving Average – Here’s Why

Farmland Partners Inc. (NYSE:FPI)’s share price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $10.39 and traded as high as $11.81. Farmland Partners shares last traded at $11.80, with a volume of 585,193 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Farmland Partners in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Farmland Partners presently has a consensus rating of “Hold”.

Farmland Partners Price Performance

The business has a 50-day moving average of $10.39 and a 200-day moving average of $10.43. The company has a market capitalization of $508.58 million, a P/E ratio of 9.83 and a beta of 0.79.

Farmland Partners Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Wednesday, January 7th. Shareholders of record on Tuesday, December 23rd were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, December 23rd. Farmland Partners’s dividend payout ratio (DPR) is presently 20.00%.

Insider Activity at Farmland Partners

In other Farmland Partners news, Director John A. Good purchased 3,000 shares of Farmland Partners stock in a transaction dated Monday, December 15th. The shares were purchased at an average cost of $10.20 per share, for a total transaction of $30,600.00. Following the completion of the acquisition, the director owned 15,100 shares in the company, valued at $154,020. This represents a 24.79% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Farmland Partners

Several hedge funds have recently bought and sold shares of the business. Brookwood Investment Group LLC boosted its stake in shares of Farmland Partners by 4.7% during the third quarter. Brookwood Investment Group LLC now owns 24,313 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 1,092 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Farmland Partners by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,322 shares of the financial services provider’s stock valued at $293,000 after buying an additional 1,092 shares during the period. State of Alaska Department of Revenue grew its stake in Farmland Partners by 6.0% in the 4th quarter. State of Alaska Department of Revenue now owns 23,744 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 1,339 shares in the last quarter. Resona Asset Management Co. Ltd. increased its position in shares of Farmland Partners by 9.5% during the third quarter. Resona Asset Management Co. Ltd. now owns 18,903 shares of the financial services provider’s stock worth $205,000 after acquiring an additional 1,646 shares during the period. Finally, Cetera Investment Advisers increased its position in shares of Farmland Partners by 6.5% during the second quarter. Cetera Investment Advisers now owns 33,898 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 2,057 shares during the period. Institutional investors own 58.00% of the company’s stock.

About Farmland Partners

Farmland Partners Inc is a real estate investment trust (REIT) that acquires and manages high-quality farmland in the United States. The company’s primary business activity is the ownership of agricultural land, which it leases to farmers under various rental arrangements designed to generate stable cash rents and long-term capital appreciation. By focusing on farmland as a real asset, the company seeks to benefit from rising global demand for food, fiber and renewable fuels.

Founded in 2013 and headquartered in Scottsdale, Arizona, Farmland Partners completed its initial public offering in June 2017 and began trading on the New York Stock Exchange under the ticker FPI.