BCGM Wealth Management LLC Has $2.62 Million Stock Position in Farmland Partners Inc. (NYSE:FPI)

Key Points

• BCGM Wealth Management LLC reduced its stake in Farmland Partners Inc. by 10.5%, selling 27,531 shares and now holding 234,827 shares worth approximately $2.6 million.
• In a recent quarter, Farmland Partners reported earnings per share (EPS) of $0.03, missing estimates, with revenues of $6.02 million compared to expectations of $9.50 million.
• The company will pay a quarterly dividend of $0.06 on October 15, 2023, reflecting a 2.3% yield and a payout ratio of 19.67%.

BCGM Wealth Management LLC trimmed its position in Farmland Partners Inc. (NYSE:FPI - Free Report) by 10.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,827 shares of the financial services provider's stock after selling 27,531 shares during the quarter. BCGM Wealth Management LLC owned 0.51% of Farmland Partners worth $2,618,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Farmland Partners by 2,102.9% in the 1st quarter. GAMMA Investing LLC now owns 9,076 shares of the financial services provider's stock worth $101,000 after acquiring an additional 8,664 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Farmland Partners during the 4th quarter valued at $104,000. ProShare Advisors LLC bought a new stake in Farmland Partners during the 4th quarter valued at $146,000. Mesirow Financial Investment Management Inc. bought a new stake in shares of Farmland Partners in the 1st quarter worth $146,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Farmland Partners in the 4th quarter worth $169,000. 58.00% of the stock is currently owned by hedge funds and other institutional investors.

Farmland Partners Price Performance

Shares of NYSE FPI traded up $0.22 during trading hours on Monday, hitting $10.83. 168,601 shares of the company's stock were exchanged, compared to its average volume of 404,138. Farmland Partners Inc. has a 1-year low of $9.66 and a 1-year high of $12.87. The stock has a market capitalization of $486.55 million, a price-to-earnings ratio of 8.87 and a beta of 0.84. The company's 50-day moving average price is $11.28 and its 200-day moving average price is $11.06.

Farmland Partners (NYSE:FPI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.03 EPS 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 the consensus estimate of $9.50 million. Farmland Partners had a net margin of 127.59% and a return on equity of 14.18%. On average, research analysts expect that Farmland Partners Inc. will post 0.13 earnings per share for the current year.

Farmland Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.2%. Farmland Partners's payout ratio is currently 19.67%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Farmland Partners from a "sell" rating to a "hold" rating in a report on Saturday, July 26th.

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.