Farmland Partners (NYSE:FPI) Shares Gap Up – Should You Buy?

Farmland Partners Inc. (NYSE:FPI) gapped up prior to trading on Friday . The stock had previously closed at $12.19, but opened at $12.71. Farmland Partners shares last traded at $12.56, with a volume of 56,606 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Farmland Partners from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th.

Farmland Partners Stock Up 3.6 %

The firm has a market cap of $608.39 million, a PE ratio of 43.55 and a beta of 0.70. The company’s fifty day moving average price is $11.78 and its two-hundred day moving average price is $11.10.

Farmland Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, January 2nd. Farmland Partners’s payout ratio is 85.71%.

Institutional Trading of Farmland Partners

Several hedge funds and other institutional investors have recently made changes to their positions in FPI. SG Americas Securities LLC purchased a new stake in Farmland Partners during the second quarter worth about $101,000. GSA Capital Partners LLP purchased a new stake in shares of Farmland Partners in the third quarter valued at about $105,000. Point72 Asset Management L.P. purchased a new stake in shares of Farmland Partners in the third quarter valued at about $111,000. D.A. Davidson & CO. lifted its holdings in shares of Farmland Partners by 11.3% in the third quarter. D.A. Davidson & CO. now owns 11,639 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 1,182 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Farmland Partners in the third quarter valued at about $123,000. Hedge funds and other institutional investors own 58.00% of the company’s stock.

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.