Garner Asset Management Corp Cuts Position in Farmland Partners Inc. (NYSE:FPI)

Garner Asset Management Corp cut its stake in shares of Farmland Partners Inc. (NYSE:FPI - Free Report) by 48.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,732 shares of the financial services provider's stock after selling 54,676 shares during the period. Garner Asset Management Corp owned 0.13% of Farmland Partners worth $644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its stake in Farmland Partners by 8.0% in the first quarter. Envestnet Asset Management Inc. now owns 167,330 shares of the financial services provider's stock worth $1,866,000 after purchasing an additional 12,358 shares in the last quarter. Arbor Capital Management Inc. ADV grew its stake in Farmland Partners by 3.2% in the first quarter. Arbor Capital Management Inc. ADV now owns 34,382 shares of the financial services provider's stock worth $382,000 after purchasing an additional 1,063 shares in the last quarter. Taylor Frigon Capital Management LLC grew its stake in Farmland Partners by 2.2% in the first quarter. Taylor Frigon Capital Management LLC now owns 122,949 shares of the financial services provider's stock worth $1,371,000 after purchasing an additional 2,687 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Farmland Partners by 92.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 37,985 shares of the financial services provider's stock worth $424,000 after purchasing an additional 18,207 shares in the last quarter. Finally, Accordant Advisory Group Inc grew its stake in Farmland Partners by 1.4% in the first quarter. Accordant Advisory Group Inc now owns 906,563 shares of the financial services provider's stock worth $10,108,000 after purchasing an additional 12,851 shares in the last quarter. 58.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Farmland Partners from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th.

Farmland Partners Price Performance

NYSE FPI traded down $0.46 during midday trading on Friday, hitting $10.86. 202,034 shares of the company traded hands, compared to its average volume of 396,511. The company has a market cap of $499.22 million, a PE ratio of 8.92 and a beta of 0.83. The company's 50-day simple moving average is $11.29 and its 200-day simple moving average is $11.11. Farmland Partners Inc. has a 52 week low of $9.66 and a 52 week high of $12.87.

Farmland Partners (NYSE:FPI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The business had revenue of $6.02 million during the quarter, compared to analyst estimates of $9.50 million. Farmland Partners had a return on equity of 13.98% and a net margin of 127.59%. On average, research analysts predict 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 paid a $0.06 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.24 dividend on an annualized basis and a yield of 2.21%. Farmland Partners's dividend payout ratio (DPR) is 23.53%.

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.