Bank of America Corp DE Trims Stake in Farmland Partners Inc. (NYSE:FPI)

Bank of America Corp DE trimmed its stake in Farmland Partners Inc. (NYSE:FPI - Free Report) by 31.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,972 shares of the financial services provider's stock after selling 30,264 shares during the quarter. Bank of America Corp DE owned approximately 0.14% of Farmland Partners worth $776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of FPI. Massachusetts Financial Services Co. MA grew its stake in shares of Farmland Partners by 1.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,725,249 shares of the financial services provider's stock worth $43,809,000 after acquiring an additional 52,330 shares during the period. Global Alpha Capital Management Ltd. lifted its holdings in Farmland Partners by 9.2% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 3,387,769 shares of the financial services provider's stock valued at $39,840,000 after purchasing an additional 284,000 shares during the last quarter. Northern Trust Corp boosted its position in Farmland Partners by 8.6% during the fourth quarter. Northern Trust Corp now owns 455,094 shares of the financial services provider's stock worth $5,352,000 after purchasing an additional 35,993 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Farmland Partners by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 373,855 shares of the financial services provider's stock worth $4,397,000 after purchasing an additional 3,564 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Farmland Partners in the fourth quarter valued at approximately $3,490,000. 58.00% of the stock is owned by institutional investors.

Farmland Partners Stock Performance

Shares of NYSE:FPI remained flat at $11.49 during trading on Thursday. The company's stock had a trading volume of 399,569 shares, compared to its average volume of 360,468. Farmland Partners Inc. has a 12-month low of $9.66 and a 12-month high of $12.87. The firm's 50-day moving average is $10.49 and its 200 day moving average is $11.27. The firm has a market cap of $528.43 million, a P/E ratio of 11.49 and a beta of 0.84.

Farmland Partners (NYSE:FPI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). Farmland Partners had a net margin of 102.89% and a return on equity of 11.47%. The company had revenue of $6.97 million for the quarter, compared to the consensus estimate of $9.49 million. On average, analysts anticipate that Farmland Partners Inc. will post 0.13 earnings per share for the current fiscal year.

Farmland Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Tuesday, July 1st. Farmland Partners's payout ratio is 23.53%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Farmland Partners from a "sell" rating to a "hold" rating in a report on Saturday, May 31st.

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.