Farmland Partners (NYSE:FPI) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Farmland Partners (NYSE:FPI) from a sell rating to a hold rating in a report released on Thursday morning.

Farmland Partners Stock Performance

NYSE FPI opened at $11.60 on Thursday. Farmland Partners has a 52-week low of $9.70 and a 52-week high of $13.12. The stock has a market cap of $558.77 million, a PE ratio of 41.43 and a beta of 0.69. The firm has a 50-day moving average of $10.60 and a 200-day moving average of $10.83.

Farmland Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Thursday, January 2nd. Farmland Partners’s payout ratio is 85.71%.

Insider Transactions at Farmland Partners

In other news, Director John A. Good purchased 24,000 shares of Farmland Partners stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average cost of $10.15 per share, for a total transaction of $243,600.00. Following the purchase, the director now directly owns 86,465 shares of the company’s stock, valued at $877,619.75. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Farmland Partners

A number of hedge funds have recently bought and sold shares of FPI. Allspring Global Investments Holdings LLC bought a new position in shares of Farmland Partners during the first quarter worth approximately $196,000. BNP Paribas Financial Markets increased its stake in Farmland Partners by 95.2% during the 1st quarter. BNP Paribas Financial Markets now owns 25,899 shares of the financial services provider’s stock worth $287,000 after acquiring an additional 12,628 shares during the period. Hilltop National Bank acquired a new position in Farmland Partners in the 1st quarter valued at $242,000. BCGM Wealth Management LLC lifted its position in shares of Farmland Partners by 3.8% during the 1st quarter. BCGM Wealth Management LLC now owns 260,134 shares of the financial services provider’s stock valued at $2,887,000 after acquiring an additional 9,567 shares during the period. Finally, Capital Square LLC grew its holdings in shares of Farmland Partners by 13.7% during the 1st quarter. Capital Square LLC now owns 19,116 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 2,308 shares in the last quarter. 58.00% of the stock is owned by institutional investors.

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.