Farmland Partners Inc (NYSE:FPI) CEO Paul A. Pittman bought 2,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was purchased at an average cost of $6.31 per share, with a total value of $12,620.00. Following the purchase, the chief executive officer now owns 2,376,794 shares of the company’s stock, valued at $14,997,570.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
FPI traded up $0.12 during midday trading on Friday, hitting $6.40. The stock had a trading volume of 60,413 shares, compared to its average volume of 197,348. The company has a market cap of $185.89 million, a P/E ratio of 26.67 and a beta of 0.74. The business has a fifty day moving average of $6.41 and a 200 day moving average of $6.20. Farmland Partners Inc has a 1 year low of $4.45 and a 1 year high of $7.85.
Farmland Partners (NYSE:FPI) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.11. The business had revenue of $10.95 million during the quarter, compared to analyst estimates of $11.03 million. Farmland Partners had a return on equity of 5.13% and a net margin of 30.75%. On average, research analysts expect that Farmland Partners Inc will post 0.13 EPS for the current year.
The business 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 dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Monday, September 30th. Farmland Partners’s dividend payout ratio (DPR) is presently 83.33%.
FPI has been the subject of several research reports. Zacks Investment Research lowered Farmland Partners from a “hold” rating to a “sell” rating in a research note on Thursday, July 25th. TheStreet lowered Farmland Partners from a “c-” rating to a “d+” rating in a research note on Thursday, June 6th. Finally, ValuEngine lowered Farmland Partners from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st.
Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in shares of Farmland Partners by 402.2% during the first quarter. BNP Paribas Arbitrage SA now owns 5,630 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 4,509 shares during the period. Bank of America Corp DE boosted its stake in shares of Farmland Partners by 10.7% during the fourth quarter. Bank of America Corp DE now owns 80,886 shares of the financial services provider’s stock valued at $367,000 after purchasing an additional 7,847 shares during the period. Northern Trust Corp boosted its stake in shares of Farmland Partners by 3.0% during the second quarter. Northern Trust Corp now owns 347,482 shares of the financial services provider’s stock valued at $2,450,000 after purchasing an additional 10,052 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Farmland Partners during the second quarter valued at approximately $80,000. Finally, Geode Capital Management LLC boosted its stake in shares of Farmland Partners by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 398,767 shares of the financial services provider’s stock valued at $1,810,000 after purchasing an additional 11,993 shares during the period. 45.83% of the stock is owned by hedge funds and other institutional investors.
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 the date of this release, the Company owns approximately 162,000 acres in 17 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota, Texas and Virginia.
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