Fortress Wealth Management Inc. Has $118,000 Holdings in Farmland Partners Inc. (NYSE:FPI)

Fortress Wealth Management Inc. decreased its holdings in Farmland Partners Inc. (NYSE:FPI) by 77.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,277 shares of the financial services provider’s stock after selling 37,688 shares during the period. Fortress Wealth Management Inc.’s holdings in Farmland Partners were worth $118,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in Farmland Partners in the first quarter worth approximately $35,000. EntryPoint Capital LLC boosted its holdings in Farmland Partners by 68.9% in the first quarter. EntryPoint Capital LLC now owns 4,801 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 1,959 shares in the last quarter. SG Americas Securities LLC acquired a new position in Farmland Partners during the second quarter worth $101,000. Park Avenue Securities LLC bought a new position in Farmland Partners during the first quarter valued at about $117,000. Finally, MQS Management LLC acquired a new stake in shares of Farmland Partners in the second quarter worth about $134,000. 58.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Farmland Partners

In other news, Director John A. Good purchased 24,000 shares of Farmland Partners stock in a transaction on Wednesday, August 7th. The stock was purchased at an average price of $10.15 per share, with a total value of $243,600.00. Following the transaction, the director now directly owns 86,465 shares in the company, valued at $877,619.75. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 8.30% of the stock is owned by corporate insiders.

Farmland Partners Price Performance

Shares of NYSE FPI traded up $0.15 during trading hours on Friday, hitting $11.04. 270,791 shares of the stock were exchanged, compared to its average volume of 324,892. Farmland Partners Inc. has a one year low of $9.70 and a one year high of $13.12. The company’s 50 day moving average is $10.37 and its 200 day moving average is $10.78. The firm has a market capitalization of $531.76 million, a P/E ratio of 21.66 and a beta of 0.70.

Farmland Partners (NYSE:FPI) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). Farmland Partners had a return on equity of 3.97% and a net margin of 36.89%. The business had revenue of $11.45 million for the quarter, compared to the consensus estimate of $11.84 million. During the same quarter last year, the company earned ($0.02) earnings per share. Research analysts anticipate that Farmland Partners Inc. will post 0.18 earnings per share for the current fiscal year.

Farmland Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Tuesday, October 1st. Farmland Partners’s dividend payout ratio (DPR) is 47.06%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Farmland Partners from a “hold” rating to a “sell” rating in a report on Thursday, July 25th.

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.