Renaissance Technologies LLC Has $440,000 Stake in Farmland Partners Inc. (NYSE:FPI)

Renaissance Technologies LLC lowered its position in shares of Farmland Partners Inc. (NYSE:FPI) by 82.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,200 shares of the financial services provider’s stock after selling 175,500 shares during the quarter. Renaissance Technologies LLC owned 0.08% of Farmland Partners worth $440,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FPI. Massachusetts Financial Services Co. MA raised its position in Farmland Partners by 6.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,461,738 shares of the financial services provider’s stock valued at $39,914,000 after buying an additional 202,264 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Farmland Partners during the second quarter valued at approximately $2,025,000. Los Angeles Capital Management LLC bought a new position in Farmland Partners in the second quarter valued at approximately $1,853,000. Red Door Wealth Management LLC acquired a new position in shares of Farmland Partners during the 1st quarter worth approximately $444,000. Finally, Pier 88 Investment Partners LLC raised its stake in shares of Farmland Partners by 29.6% during the 2nd quarter. Pier 88 Investment Partners LLC now owns 115,488 shares of the financial services provider’s stock worth $1,332,000 after purchasing an additional 26,400 shares in the last quarter. Institutional investors and hedge funds own 58.00% of the company’s stock.

Insider Transactions at Farmland Partners

In related news, Director John A. Good bought 24,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average cost of $10.15 per share, for a total transaction of $243,600.00. Following the completion of the transaction, the director now owns 86,465 shares of the company’s stock, valued at approximately $877,619.75. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.30% of the company’s stock.

Analyst Ratings Changes

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

Farmland Partners Trading Down 0.1 %

Shares of FPI stock opened at $10.61 on Friday. The stock has a market cap of $511.05 million, a price-to-earnings ratio of 20.80 and a beta of 0.70. The stock has a 50-day moving average of $10.28 and a 200-day moving average of $10.79. Farmland Partners Inc. has a 1-year low of $9.70 and a 1-year high of $13.12.

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 firm had revenue of $11.45 million for the quarter, compared to analyst estimates of $11.84 million. Farmland Partners had a return on equity of 3.97% and a net margin of 36.89%. During the same period in the previous year, the company earned ($0.02) earnings per share. Sell-side analysts forecast that Farmland Partners Inc. will post 0.18 earnings per share for the current year.

Farmland Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Tuesday, October 1st. Farmland Partners’s dividend payout ratio is currently 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.