BCGM Wealth Management LLC Sells 27,531 Shares of 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 lessened its stake in Farmland Partners Inc. (NYSE:FPI - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent 13F filing with the 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 reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. bought a new stake in shares of Farmland Partners during the 4th quarter worth $4,704,000. Raymond James Financial Inc. bought a new stake in Farmland Partners in the 4th quarter valued at $3,490,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Farmland Partners in the 1st quarter valued at $2,909,000. JPMorgan Chase & Co. boosted its holdings in Farmland Partners by 93.4% in the 4th quarter. JPMorgan Chase & Co. now owns 243,045 shares of the financial services provider's stock valued at $2,858,000 after purchasing an additional 117,350 shares during the period. Finally, Millennium Management LLC bought a new stake in Farmland Partners in the 4th quarter valued at $635,000. Institutional investors and hedge funds own 58.00% of the company's stock.

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, July 26th.

Farmland Partners Stock Performance

Shares of NYSE:FPI traded up $0.13 during midday trading on Friday, reaching $10.60. 533,595 shares of the company's stock were exchanged, compared to its average volume of 444,767. The company's 50 day simple moving average is $11.28 and its two-hundred day simple moving average is $11.06. The firm has a market capitalization of $476.05 million, a PE ratio of 8.69 and a beta of 0.84. Farmland Partners Inc. has a 12 month low of $9.66 and a 12 month high of $12.87.

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

Farmland Partners Dividend Announcement

The company 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 dividend of $0.06 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.3%. Farmland Partners's dividend payout ratio (DPR) is 19.67%.

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.