Farmland Partners (NYSE:FPI) Shares Gap Up to $10.92

Farmland Partners Inc. (NYSE:FPI)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $10.92, but opened at $11.37. Farmland Partners shares last traded at $11.42, with a volume of 142,140 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Farmland Partners from a “sell” rating to a “hold” rating in a research report on Friday, March 8th.

Farmland Partners Stock Down 1.0 %

The business’s fifty day moving average is $10.92 and its 200-day moving average is $11.36. The stock has a market capitalization of $548.90 million, a PE ratio of 22.34 and a beta of 0.74.

Farmland Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a dividend of $0.06 per share. The ex-dividend date is Monday, July 1st. This represents a $0.24 annualized dividend and a dividend yield of 2.11%. Farmland Partners’s dividend payout ratio is presently 47.06%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in Farmland Partners by 11.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,855 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 1,286 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Farmland Partners during the 1st quarter worth about $35,000. Gamco Investors INC. ET AL increased its position in Farmland Partners by 11.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 62,390 shares of the financial services provider’s stock worth $693,000 after purchasing an additional 6,450 shares in the last quarter. EntryPoint Capital LLC raised 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 valued at $53,000 after buying an additional 1,959 shares during the period. Finally, Capital Square LLC lifted its position in Farmland Partners by 13.7% during the first quarter. Capital Square LLC now owns 19,116 shares of the financial services provider’s stock valued at $212,000 after buying an additional 2,308 shares in the last quarter. 58.00% of the stock is owned by hedge funds and other 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.