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

Massachusetts Financial Services Co. MA grew its stake in Farmland Partners Inc. (NYSE:FPI) by 6.2% in the 2nd quarter, Holdings Channel.com reports. The firm 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 about 0.07% of Farmland Partners worth $39,914,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Chesapeake Capital Corp IL bought a new stake in Farmland Partners in the fourth quarter worth $148,000. Los Angeles Capital Management LLC purchased a new position in shares of Farmland Partners during the 2nd quarter worth about $1,853,000. Price T Rowe Associates Inc. MD raised its position in Farmland Partners by 11.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,855 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 1,286 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Farmland Partners in the first quarter worth about $196,000. Finally, Park Avenue Securities LLC bought a new stake in Farmland Partners in the first quarter worth about $117,000. Hedge funds and other institutional investors own 58.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director John A. Good purchased 24,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average price of $10.15 per share, for a total transaction of $243,600.00. Following the completion of the purchase, the director now owns 86,465 shares in the company, valued at approximately $877,619.75. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 8.30% of the company’s stock.

Farmland Partners Trading Up 1.6 %

NYSE FPI opened at $10.56 on Friday. The stock has a market cap of $508.64 million, a PE ratio of 20.71 and a beta of 0.71. Farmland Partners Inc. has a 12 month low of $9.70 and a 12 month high of $13.12. The company’s 50-day moving average price is $10.47 and its 200-day moving average price is $10.83.

Farmland Partners (NYSE:FPI) last issued its earnings results on Wednesday, July 24th. The financial services provider reported ($0.06) 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 company had revenue of $11.45 million during the quarter, compared to the consensus estimate of $11.84 million. During the same quarter in the prior year, the company earned ($0.02) earnings per share. As a group, sell-side analysts forecast that Farmland Partners Inc. will post 0.18 earnings per share for the current year.

Farmland Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend 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.