Bank of New York Mellon Corp Acquires Shares of 275,112 Farmland Partners Inc. $FPI

Key Points

• Bank of New York Mellon acquired 275,112 Farmland Partners shares worth approximately $2.66 million, representing about 0.63% of the company. Institutional investors collectively own 58% of FPI.
• Farmland Partners reported quarterly EPS of $0.07, beating the $0.02 analyst consensus, while revenue reached $9.4 million versus expectations of $5.64 million.
• The company declared a quarterly dividend of $0.09 per share, equivalent to $0.36 annually and a 3.4% yield. Analysts maintain a consensus “Hold” rating.

Bank of New York Mellon Corp purchased a new position in shares of Farmland Partners Inc. (NYSE:FPI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 275,112 shares of the financial services provider's stock, valued at approximately $2,663,000. Bank of New York Mellon Corp owned approximately 0.63% of Farmland Partners as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FPI. Y Intercept Hong Kong Ltd bought a new stake in shares of Farmland Partners during the first quarter worth approximately $1,556,000. GSA Capital Partners LLP bought a new position in Farmland Partners in the second quarter valued at approximately $1,316,000. Cauble & Harre Wealth Management Inc. acquired a new stake in Farmland Partners during the 4th quarter worth $2,151,000. Ballentine Partners LLC acquired a new stake in Farmland Partners during the 4th quarter worth $156,000. Finally, State of Wyoming bought a new stake in shares of Farmland Partners during the 1st quarter valued at $79,000. Institutional investors own 58.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on FPI shares. Weiss Ratings upgraded Farmland Partners from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 12th. Zacks Research cut shares of Farmland Partners from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

Farmland Partners Price Performance

NYSE:FPI opened at $10.64 on Tuesday. Farmland Partners Inc. has a fifty-two week low of $9.21 and a fifty-two week high of $13.23. The stock has a market capitalization of $464.22 million, a PE ratio of 20.86 and a beta of 0.68. The business's 50-day simple moving average is $9.86 and its 200-day simple moving average is $10.66.

Farmland Partners (NYSE:FPI - Get Free Report) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.05. Farmland Partners had a return on equity of 5.54% and a net margin of 49.85%.The business had revenue of $9.40 million during the quarter, compared to analysts' expectations of $5.64 million. Farmland Partners has set its FY 2026 guidance at 0.310-0.350 EPS. On average, research analysts expect that Farmland Partners Inc. will post 0.26 earnings per share for the current year.

Farmland Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Thursday, October 1st. Farmland Partners's dividend payout ratio is 70.59%.

About Farmland Partners

Farmland Partners Inc is a real estate investment trust (REIT) that acquires and manages high-quality farmland in the United States. The company's primary business activity is the ownership of agricultural land, which it leases to farmers under various rental arrangements designed to generate stable cash rents and long-term capital appreciation. By focusing on farmland as a real asset, the company seeks to benefit from rising global demand for food, fiber and renewable fuels.

Founded in 2013 and headquartered in Scottsdale, Arizona, Farmland Partners completed its initial public offering in June 2017 and began trading on the New York Stock Exchange under the ticker FPI.

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