Farmland Partners (NYSE:FPI) Upgraded at StockNews.com

StockNews.com upgraded shares of Farmland Partners (NYSE:FPI) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

Farmland Partners Stock Performance

NYSE:FPI opened at $11.60 on Thursday. The stock has a market capitalization of $558.77 million, a PE ratio of 41.43 and a beta of 0.69. Farmland Partners has a fifty-two week low of $9.70 and a fifty-two week high of $13.12. The company has a fifty day moving average of $10.60 and a two-hundred day moving average of $10.83.

Farmland Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.07%. The ex-dividend date is Thursday, January 2nd. Farmland Partners’s payout ratio is 85.71%.

Insiders Place Their Bets

In other Farmland Partners news, Director John A. Good purchased 24,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were 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 represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 8.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Farmland Partners

Institutional investors have recently added to or reduced their stakes in the stock. Accordant Advisory Group Inc grew its holdings in Farmland Partners by 56.9% in the 3rd quarter. Accordant Advisory Group Inc now owns 812,976 shares of the financial services provider’s stock valued at $8,496,000 after buying an additional 294,980 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Farmland Partners by 6.2% during 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 acquiring an additional 202,264 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Farmland Partners in the second quarter valued at about $2,025,000. Los Angeles Capital Management LLC acquired a new stake in Farmland Partners during the second quarter worth about $1,853,000. Finally, Marshall Wace LLP purchased a new position in Farmland Partners during the second quarter worth about $363,000. Hedge funds and other institutional investors own 58.00% of the company’s stock.

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.