Farmland Partners (NYSE:FPI) Downgraded by StockNews.com to Sell

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

Farmland Partners Trading Down 1.0 %

Shares of FPI opened at $10.46 on Thursday. The company has a market capitalization of $503.86 million, a PE ratio of 20.51 and a beta of 0.71. Farmland Partners has a 12 month low of $9.95 and a 12 month high of $13.27. The stock’s 50-day moving average price is $11.24 and its two-hundred day moving average price is $11.13.

Farmland Partners (NYSE:FPI) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). The business had revenue of $11.45 million during the quarter, compared to analyst estimates of $11.84 million. Farmland Partners had a net margin of 36.89% and a return on equity of 3.96%. During the same period in the prior year, the firm earned ($0.02) earnings per share. Equities research analysts predict that Farmland Partners will post 0.19 EPS for the current fiscal year.

Farmland Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Tuesday, October 1st. Farmland Partners’s dividend payout ratio is 47.06%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Chesapeake Capital Corp IL acquired a new position in shares of Farmland Partners in the 4th quarter valued at about $148,000. Vanguard Group Inc. increased its position in Farmland Partners by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,468,003 shares of the financial services provider’s stock valued at $25,322,000 after buying an additional 68,105 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Farmland Partners by 10.5% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 54,010 shares of the financial services provider’s stock valued at $674,000 after buying an additional 5,149 shares in the last quarter. Principal Securities Inc. bought a new stake in Farmland Partners in the 4th quarter valued at about $110,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Farmland Partners in the 1st quarter valued at about $196,000. 58.00% of the stock is owned by institutional investors and hedge funds.

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.