Bank of America Corp DE Sells 30,264 Shares of Farmland Partners Inc. (NYSE:FPI)

Bank of America Corp DE decreased its position in shares of Farmland Partners Inc. (NYSE:FPI - Free Report) by 31.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,972 shares of the financial services provider's stock after selling 30,264 shares during the period. Bank of America Corp DE owned about 0.14% of Farmland Partners worth $776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its holdings in shares of Farmland Partners by 470.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,944 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 2,428 shares in the last quarter. Promus Capital LLC acquired a new stake in shares of Farmland Partners during the fourth quarter valued at about $56,000. KLP Kapitalforvaltning AS bought a new stake in shares of Farmland Partners during the fourth quarter worth about $104,000. Meriwether Wealth & Planning LLC bought a new stake in shares of Farmland Partners during the fourth quarter worth about $119,000. Finally, New York State Common Retirement Fund increased its stake in shares of Farmland Partners by 74.6% in the fourth quarter. New York State Common Retirement Fund now owns 12,877 shares of the financial services provider's stock valued at $151,000 after buying an additional 5,500 shares during the period. 58.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Farmland Partners Stock Performance

Shares of NYSE:FPI opened at $11.55 on Monday. Farmland Partners Inc. has a 52 week low of $9.66 and a 52 week high of $12.87. The firm has a market cap of $530.95 million, a PE ratio of 11.55 and a beta of 0.84. The firm's fifty day moving average is $10.44 and its 200-day moving average is $11.27.

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

Farmland Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.08%. The ex-dividend date is Tuesday, July 1st. Farmland Partners's payout ratio is presently 23.53%.

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.

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