Park Avenue Securities LLC Purchases 1,679 Shares of Farmland Partners Inc. (NYSE:FPI)

Park Avenue Securities LLC boosted its holdings in Farmland Partners Inc. (NYSE:FPI) by 14.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,241 shares of the financial services provider’s stock after buying an additional 1,679 shares during the quarter. Park Avenue Securities LLC’s holdings in Farmland Partners were worth $138,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new position in shares of Farmland Partners during the first quarter valued at $35,000. EntryPoint Capital LLC lifted its holdings in Farmland Partners by 68.9% during the 1st quarter. EntryPoint Capital LLC now owns 4,801 shares of the financial services provider’s stock worth $53,000 after buying an additional 1,959 shares during the period. SG Americas Securities LLC bought a new stake in shares of Farmland Partners in the 2nd quarter valued at about $101,000. MQS Management LLC bought a new position in shares of Farmland Partners during the second quarter worth about $134,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Farmland Partners by 11.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,855 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 1,286 shares during the last quarter. 58.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John A. Good purchased 24,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was purchased at an average cost of $10.15 per share, with a total value 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. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.30% of the stock is owned by insiders.

Farmland Partners Trading Up 0.8 %

Shares of Farmland Partners stock opened at $10.79 on Tuesday. The business has a 50-day moving average price of $10.30 and a two-hundred day moving average price of $10.78. Farmland Partners Inc. has a 1-year low of $9.70 and a 1-year high of $13.12. The company has a market cap of $519.72 million, a P/E ratio of 21.12 and a beta of 0.70.

Farmland Partners (NYSE:FPI) last released its earnings results on Wednesday, July 24th. The financial services provider reported ($0.06) EPS for the quarter, missing the consensus estimate 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 in the prior year, the business earned ($0.02) EPS. Equities research analysts forecast that Farmland Partners Inc. will post 0.18 EPS for the current fiscal year.

Farmland Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.22%. Farmland Partners’s payout ratio is presently 47.06%.

Analysts Set New Price Targets

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

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.