Quest Partners LLC Grows Stock Holdings in Farmland Partners Inc. (NYSE:FPI)

Quest Partners LLC increased its holdings in shares of Farmland Partners Inc. (NYSE:FPI) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,692 shares of the financial services provider’s stock after purchasing an additional 3,022 shares during the period. Quest Partners LLC owned approximately 0.11% of Farmland Partners worth $608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FPI. Massachusetts Financial Services Co. MA raised its stake in shares of Farmland Partners by 18.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,755,880 shares of the financial services provider’s stock valued at $34,393,000 after buying an additional 419,879 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Farmland Partners during the second quarter worth about $1,853,000. Red Door Wealth Management LLC acquired a new stake in Farmland Partners during the first quarter worth about $444,000. Annex Advisory Services LLC purchased a new position in Farmland Partners during the fourth quarter valued at approximately $459,000. Finally, International Assets Investment Management LLC acquired a new position in Farmland Partners in the fourth quarter valued at approximately $452,000. 58.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Farmland Partners

In related news, Director John A. Good acquired 24,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were acquired at an average cost of $10.15 per share, with a total value of $243,600.00. Following the completion of the acquisition, the director now directly owns 86,465 shares in the company, valued at approximately $877,619.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Farmland Partners Stock Performance

Shares of Farmland Partners stock opened at $10.15 on Thursday. The firm has a 50-day simple moving average of $10.58 and a two-hundred day simple moving average of $10.86. Farmland Partners Inc. has a fifty-two week low of $9.70 and a fifty-two week high of $13.12. The company has a market cap of $488.90 million, a P/E ratio of 19.90 and a beta of 0.71.

Farmland Partners (NYSE:FPI) last released its quarterly 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). 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 during the quarter, compared to analyst estimates of $11.84 million. During the same period in the previous year, the company posted ($0.02) EPS. Equities research analysts forecast that Farmland Partners Inc. will post 0.2 EPS for the current year.

Farmland Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.36%. Farmland Partners’s dividend payout ratio (DPR) is 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.