Farmland Partners (NYSE:FPI) Rating Increased to Hold at Wall Street Zen

Key Points

• Farmland Partners was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a shift in market sentiment towards the stock.
• The company reported a missed quarterly earnings expectation, with earnings per share of $0.03 compared to the consensus estimate of $0.04.
• Institutional investors have shown increased interest, with several firms raising their positions in Farmland Partners during the first quarter of the year.

Wall Street Zen upgraded shares of Farmland Partners (NYSE:FPI - Free Report) from a sell rating to a hold rating in a report released on Saturday morning.

Farmland Partners Stock Performance

NYSE:FPI traded down $0.02 during mid-day trading on Friday, hitting $10.66. The company had a trading volume of 167,521 shares, compared to its average volume of 394,959. Farmland Partners has a fifty-two week low of $9.66 and a fifty-two week high of $12.87. The firm has a market cap of $478.52 million, a P/E ratio of 8.73 and a beta of 0.89. The business's fifty day moving average is $11.05 and its two-hundred day moving average is $10.94.

Farmland Partners (NYSE:FPI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The firm had revenue of $6.02 million during the quarter, compared to analyst estimates of $9.50 million. Farmland Partners had a net margin of 127.59% and a return on equity of 14.18%. Farmland Partners has set its FY 2025 guidance at 0.280-0.340 EPS. Equities analysts forecast that Farmland Partners will post 0.13 earnings per share for the current year.

Farmland Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.06 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.24 annualized dividend and a dividend yield of 2.3%. Farmland Partners's payout ratio is currently 19.67%.

Hedge Funds Weigh In On Farmland Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Global Alpha Capital Management Ltd. boosted its holdings in shares of Farmland Partners by 2.3% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 3,465,969 shares of the financial services provider's stock worth $38,646,000 after buying an additional 78,200 shares during the period. Accordant Advisory Group Inc grew its holdings in shares of Farmland Partners by 26.3% during the 2nd quarter. Accordant Advisory Group Inc now owns 1,145,016 shares of the financial services provider's stock worth $13,179,000 after purchasing an additional 238,453 shares in the last quarter. Deutsche Bank AG increased its position in shares of Farmland Partners by 0.4% in the first quarter. Deutsche Bank AG now owns 878,591 shares of the financial services provider's stock worth $9,796,000 after purchasing an additional 3,833 shares during the period. Northern Trust Corp raised its stake in Farmland Partners by 8.6% in the fourth quarter. Northern Trust Corp now owns 455,094 shares of the financial services provider's stock valued at $5,352,000 after purchasing an additional 35,993 shares in the last quarter. Finally, Westwood Holdings Group Inc. acquired a new stake in Farmland Partners during the fourth quarter worth about $4,704,000. Institutional investors own 58.00% of the company's stock.

About Farmland Partners

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.