Farmland Partners (NYSE:FPI) Hits New 1-Year High Following Strong Earnings

Shares of Farmland Partners Inc. (NYSE:FPI) hit a new 52-week high on Thursday following a better than expected earnings announcement. The stock traded as high as $12.87 and last traded at $12.21, with a volume of 236404 shares. The stock had previously closed at $11.64.

The financial services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. Farmland Partners had a return on equity of 3.53% and a net margin of 31.68%. The business had revenue of $21.47 million during the quarter, compared to the consensus estimate of $20.29 million.

Farmland Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Tuesday, April 1st. Farmland Partners’s dividend payout ratio is 85.71%.

Wall Street Analyst Weigh In

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

Insider Activity at Farmland Partners

In other Farmland Partners news, Director John A. Good purchased 15,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average cost of $12.23 per share, with a total value of $183,450.00. Following the completion of the transaction, the director now owns 101,465 shares of the company’s stock, valued at approximately $1,240,916.95. This represents a 17.35 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Stifel Financial Corp increased its position in Farmland Partners by 130.0% in the 3rd quarter. Stifel Financial Corp now owns 111,254 shares of the financial services provider’s stock worth $1,163,000 after purchasing an additional 62,875 shares during the last quarter. JPMorgan Chase & Co. increased its position in Farmland Partners by 27.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 125,695 shares of the financial services provider’s stock worth $1,314,000 after purchasing an additional 27,373 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Farmland Partners by 67.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 56,439 shares of the financial services provider’s stock worth $730,000 after purchasing an additional 22,774 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Farmland Partners by 5.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 370,291 shares of the financial services provider’s stock worth $3,870,000 after purchasing an additional 19,805 shares during the last quarter. Finally, Barclays PLC increased its position in Farmland Partners by 221.7% in the 3rd quarter. Barclays PLC now owns 68,150 shares of the financial services provider’s stock worth $712,000 after purchasing an additional 46,968 shares during the last quarter. 58.00% of the stock is owned by institutional investors and hedge funds.

Farmland Partners Trading Up 7.5 %

The firm has a 50-day simple moving average of $11.77 and a two-hundred day simple moving average of $11.31. The company has a market capitalization of $602.85 million, a price-to-earnings ratio of 44.70 and a beta of 0.69.

Farmland Partners Company 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.