Garner Asset Management Corp Reduces Position in Farmland Partners Inc. (NYSE:FPI)

Garner Asset Management Corp lessened its stake in shares of Farmland Partners Inc. (NYSE:FPI) by 17.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 297,136 shares of the financial services provider’s stock after selling 63,397 shares during the quarter. Farmland Partners makes up approximately 1.6% of Garner Asset Management Corp’s holdings, making the stock its 12th largest holding. Garner Asset Management Corp owned 0.62% of Farmland Partners worth $3,426,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Farmland Partners by 6.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,461,738 shares of the financial services provider’s stock worth $39,914,000 after purchasing an additional 202,264 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Farmland Partners in the 2nd quarter valued at $2,025,000. Quest Partners LLC lifted its stake in shares of Farmland Partners by 6.1% during the 2nd quarter. Quest Partners LLC now owns 52,692 shares of the financial services provider’s stock worth $608,000 after purchasing an additional 3,022 shares during the period. TAP Consulting LLC boosted its holdings in shares of Farmland Partners by 12.5% during the second quarter. TAP Consulting LLC now owns 134,959 shares of the financial services provider’s stock worth $1,556,000 after purchasing an additional 15,024 shares during the last quarter. Finally, Pier 88 Investment Partners LLC grew its position in shares of Farmland Partners by 29.6% in the second quarter. Pier 88 Investment Partners LLC now owns 115,488 shares of the financial services provider’s stock valued at $1,332,000 after purchasing an additional 26,400 shares during the period. Institutional investors and hedge funds own 58.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Farmland Partners from a “hold” rating to a “sell” rating in a research note on Thursday, July 25th.

Insider Transactions at Farmland Partners

In other news, Director John A. Good purchased 24,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average cost of $10.15 per share, with a total value of $243,600.00. Following the acquisition, the director now owns 86,465 shares in the company, valued at $877,619.75. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 8.30% of the company’s stock.

Farmland Partners Trading Down 2.2 %

FPI stock opened at $10.39 on Thursday. The stock has a 50-day moving average price of $10.49 and a two-hundred day moving average price of $10.83. Farmland Partners Inc. has a 12-month low of $9.70 and a 12-month high of $13.12. The company has a market cap of $500.46 million, a PE ratio of 20.37 and a beta of 0.71.

Farmland Partners (NYSE:FPI) last posted its earnings results on Wednesday, July 24th. The financial services provider reported ($0.06) earnings per share (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 analyst estimates of $11.84 million. During the same period last year, the company posted ($0.02) EPS. Equities analysts forecast that Farmland Partners Inc. will post 0.18 EPS for the current fiscal year.

Farmland Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.31%. The ex-dividend date is Tuesday, October 1st. Farmland Partners’s dividend payout ratio (DPR) is presently 47.06%.

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.