Promus Capital LLC Purchases Shares of 4,788 Farmland Partners Inc. (NYSE:FPI)

Promus Capital LLC purchased a new stake in shares of Farmland Partners Inc. (NYSE:FPI) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 4,788 shares of the financial services provider’s stock, valued at approximately $56,000.

Other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp boosted its position in Farmland Partners by 130.0% during the 3rd quarter. Stifel Financial Corp now owns 111,254 shares of the financial services provider’s stock valued at $1,163,000 after buying an additional 62,875 shares during the period. JPMorgan Chase & Co. boosted its position in Farmland Partners by 27.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 125,695 shares of the financial services provider’s stock valued at $1,314,000 after buying an additional 27,373 shares during the period. Nisa Investment Advisors LLC boosted its position in Farmland Partners by 67.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 56,439 shares of the financial services provider’s stock valued at $730,000 after buying an additional 22,774 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Farmland Partners by 5.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 370,291 shares of the financial services provider’s stock worth $3,870,000 after purchasing an additional 19,805 shares during the period. Finally, Barclays PLC lifted its position in shares of Farmland Partners by 221.7% in the 3rd quarter. Barclays PLC now owns 68,150 shares of the financial services provider’s stock worth $712,000 after purchasing an additional 46,968 shares during the period. Hedge funds and other institutional investors own 58.00% of the company’s stock.

Farmland Partners Trading Down 1.7 %

NYSE:FPI opened at $11.36 on Thursday. The company has a 50-day moving average price of $11.71 and a 200-day moving average price of $11.42. Farmland Partners Inc. has a 12 month low of $9.70 and a 12 month high of $12.87. The stock has a market cap of $521.31 million, a price-to-earnings ratio of 11.36 and a beta of 0.69.

Farmland Partners (NYSE:FPI) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. Farmland Partners had a net margin of 102.89% and a return on equity of 11.47%. The firm had revenue of $21.47 million during the quarter, compared to analysts’ expectations of $20.29 million. Equities analysts forecast that Farmland Partners Inc. will post 0.13 EPS for the current fiscal year.

Farmland Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.24 annualized dividend and a dividend yield of 2.11%. Farmland Partners’s payout ratio is 24.00%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Farmland Partners from a “sell” rating to a “hold” rating in a research report on Friday, February 28th.

Insider Buying and Selling

In other Farmland Partners news, Director John A. Good purchased 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was bought at an average cost of $12.23 per share, for a total transaction of $183,450.00. Following the purchase, the director now directly owns 101,465 shares in the company, valued at $1,240,916.95. The trade was a 17.35 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.30% of the stock is owned by company insiders.

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.