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Massachusetts Financial Services Co. MA Sells 2,905,469 Shares of Farmland Partners Inc. (NYSE:FPI)

Farmland Partners logo with Finance background

Massachusetts Financial Services Co. MA lessened its stake in Farmland Partners Inc. (NYSE:FPI - Free Report) by 78.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 819,780 shares of the financial services provider's stock after selling 2,905,469 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.78% of Farmland Partners worth $9,141,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Envestnet Asset Management Inc. raised 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 valued at $1,866,000 after purchasing an additional 12,358 shares in the last quarter. Arbor Capital Management Inc. ADV raised 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 valued at $382,000 after purchasing an additional 1,063 shares in the last quarter. Taylor Frigon Capital Management LLC raised its stake in Farmland Partners by 2.2% during 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 acquiring an additional 2,687 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Farmland Partners by 92.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 37,985 shares of the financial services provider's stock worth $424,000 after acquiring an additional 18,207 shares in the last quarter. Finally, Accordant Advisory Group Inc raised its stake in Farmland Partners by 1.4% during the first quarter. Accordant Advisory Group Inc now owns 906,563 shares of the financial services provider's stock worth $10,108,000 after acquiring an additional 12,851 shares in the last quarter. Institutional investors and hedge funds own 58.00% of the company's stock.

Wall Street Analyst Weigh In

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

Get Our Latest Stock Report on Farmland Partners

Farmland Partners Trading Up 1.1%

NYSE FPI traded up $0.12 during trading on Friday, hitting $11.45. 342,189 shares of the company's stock were exchanged, compared to its average volume of 376,332. The company has a market cap of $526.59 million, a PE ratio of 11.23 and a beta of 0.83. Farmland Partners Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $12.87. The stock's 50 day moving average price is $11.21 and its two-hundred day moving average price is $11.12.

Farmland Partners (NYSE:FPI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The financial services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $6.97 million for the quarter, compared to analyst estimates of $9.49 million. Farmland Partners had a return on equity of 11.95% and a net margin of 107.24%. Analysts forecast that Farmland Partners Inc. will post 0.13 earnings per share for the current fiscal year.

Farmland Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Tuesday, July 1st. Farmland Partners's dividend payout ratio (DPR) is currently 23.53%.

Farmland Partners Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Farmland Partners (NYSE:FPI)

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