Raymond James Financial Services Advisors Inc. acquired a new position in Farmland Partners Inc. (NYSE:FPI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,410 shares of the financial services provider’s stock, valued at approximately $127,000.
Several other hedge funds also recently bought and sold shares of the company. WFG Advisors LP raised its stake in Farmland Partners by 165.7% in the fourth quarter. WFG Advisors LP now owns 1,594 shares of the financial services provider’s stock worth $164,000 after buying an additional 994 shares in the last quarter. Nationwide Fund Advisors raised its stake in Farmland Partners by 76.5% in the first quarter. Nationwide Fund Advisors now owns 13,235 shares of the financial services provider’s stock worth $148,000 after buying an additional 5,735 shares in the last quarter. Clear Harbor Asset Management LLC raised its stake in Farmland Partners by 3.7% in the first quarter. Clear Harbor Asset Management LLC now owns 14,603 shares of the financial services provider’s stock worth $163,000 after buying an additional 515 shares in the last quarter. First Republic Investment Management Inc. bought a new stake in Farmland Partners during the fourth quarter worth $173,000. Finally, Teachers Advisors LLC raised its stake in Farmland Partners by 17.9% in the fourth quarter. Teachers Advisors LLC now owns 22,016 shares of the financial services provider’s stock worth $246,000 after buying an additional 3,349 shares in the last quarter. 39.15% of the stock is currently owned by institutional investors and hedge funds.
Farmland Partners Inc. (NYSE FPI) opened at 9.20 on Tuesday. The company has a 50-day moving average price of $9.88 and a 200 day moving average price of $10.72. The stock has a market cap of $295.38 million, a price-to-earnings ratio of 541.18 and a beta of 0.18. Farmland Partners Inc. has a 12-month low of $8.85 and a 12-month high of $11.98.
Farmland Partners (NYSE:FPI) last posted its earnings results on Monday, May 8th. The financial services provider reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.05 by $0.15. Farmland Partners had a return on equity of 1.68% and a net margin of 12.04%. The firm had revenue of $7.15 million during the quarter, compared to the consensus estimate of $9.34 million. On average, equities research analysts predict that Farmland Partners Inc. will post $0.10 EPS for the current year.
The company also recently announced a dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be given a $0.127 dividend. The ex-dividend date is Wednesday, June 28th. Farmland Partners’s dividend payout ratio (DPR) is 510.05%.
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FPI has been the topic of several recent analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $10.00 target price (down previously from $11.75) on shares of Farmland Partners in a report on Monday, June 19th. Robert W. Baird dropped their target price on Farmland Partners from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, June 16th. Zacks Investment Research lowered Farmland Partners from a “hold” rating to a “sell” rating in a report on Thursday, June 15th. Finally, TheStreet raised Farmland Partners from a “d” rating to a “c-” rating in a report on Monday, April 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $11.13.
In other news, Director Dennie Dixon Boardman sold 65,422 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $9.84, for a total value of $643,752.48. Following the completion of the sale, the director now directly owns 1,601 shares of the company’s stock, valued at approximately $15,753.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Paul A. Pittman purchased 5,000 shares of Farmland Partners stock in a transaction dated Friday, June 16th. The stock was bought at an average cost of $8.99 per share, with a total value of $44,950.00. Following the completion of the purchase, the chief executive officer now owns 545,388 shares in the company, valued at approximately $4,903,038.12. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 20,202 shares of company stock valued at $195,994. Company insiders own 2.76% of the company’s stock.
About Farmland Partners
Farmland Partners, Inc is an internally managed real estate company. The Company owns and seeks to acquire farmland located in agricultural markets throughout North America. The Company is the sole member of the general partner of Farmland Partners Operating Partnership, LP (the Operating Partnership).
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