Massachusetts Financial Services Co. MA Acquires 202,264 Shares of Farmland Partners Inc. (NYSE:FPI)

Massachusetts Financial Services Co. MA lifted its stake in Farmland Partners Inc. (NYSE:FPI) by 6.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,461,738 shares of the financial services provider’s stock after purchasing an additional 202,264 shares during the period. Massachusetts Financial Services Co. MA owned 7.19% of Farmland Partners worth $39,914,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FPI. State of New Jersey Common Pension Fund D bought a new position in shares of Farmland Partners in the second quarter worth about $2,025,000. Los Angeles Capital Management LLC bought a new position in shares of Farmland Partners in the second quarter worth approximately $1,853,000. Red Door Wealth Management LLC purchased a new stake in shares of Farmland Partners in the first quarter worth $444,000. Annex Advisory Services LLC bought a new stake in shares of Farmland Partners during the 4th quarter valued at $459,000. Finally, Quest Partners LLC bought a new stake in shares of Farmland Partners during the 4th quarter valued at $416,000. 58.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director John A. Good purchased 24,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $10.15 per share, for a total transaction of $243,600.00. Following the acquisition, the director now directly owns 86,465 shares of the company’s stock, valued at approximately $877,619.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Farmland Partners Price Performance

FPI stock opened at $10.56 on Friday. Farmland Partners Inc. has a 1-year low of $9.70 and a 1-year high of $13.12. The business has a 50 day simple moving average of $10.47 and a two-hundred day simple moving average of $10.83. The company has a market capitalization of $508.64 million, a price-to-earnings ratio of 20.71 and a beta of 0.71.

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

Farmland Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.06 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.24 annualized dividend and a dividend yield of 2.27%. Farmland Partners’s dividend payout ratio (DPR) is 47.06%.

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.