Millennium Management LLC Invests $635,000 in Farmland Partners Inc. (NYSE:FPI)

Millennium Management LLC bought a new position in Farmland Partners Inc. (NYSE:FPI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 53,965 shares of the financial services provider's stock, valued at approximately $635,000. Millennium Management LLC owned about 0.11% of Farmland Partners as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FPI. SG Americas Securities LLC boosted its stake in shares of Farmland Partners by 16.5% in the 4th quarter. SG Americas Securities LLC now owns 18,704 shares of the financial services provider's stock worth $220,000 after buying an additional 2,651 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Farmland Partners in the 4th quarter worth approximately $511,000. Asset Management One Co. Ltd. boosted its stake in shares of Farmland Partners by 3.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 64,605 shares of the financial services provider's stock worth $747,000 after buying an additional 2,121 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Farmland Partners by 2.8% in the 4th quarter. Rhumbline Advisers now owns 79,766 shares of the financial services provider's stock worth $938,000 after buying an additional 2,135 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Farmland Partners by 74.6% in the fourth quarter. New York State Common Retirement Fund now owns 12,877 shares of the financial services provider's stock valued at $151,000 after purchasing an additional 5,500 shares during the last quarter. Hedge funds and other institutional investors own 58.00% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Farmland Partners from a "sell" rating to a "hold" rating in a research note on Saturday, May 31st.

Farmland Partners Stock Down 1.8%

Farmland Partners stock traded down $0.21 during trading on Wednesday, hitting $11.48. The stock had a trading volume of 630,983 shares, compared to its average volume of 360,312. Farmland Partners Inc. has a 1 year low of $9.66 and a 1 year high of $12.87. The stock's 50 day moving average is $10.49 and its two-hundred day moving average is $11.27. The stock has a market cap of $527.87 million, a price-to-earnings ratio of 11.48 and a beta of 0.84.

Farmland Partners (NYSE:FPI - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $6.97 million during the quarter, compared to analysts' expectations of $9.49 million. Farmland Partners had a net margin of 102.89% and a return on equity of 11.47%. As a group, equities research analysts anticipate that Farmland Partners Inc. will post 0.13 EPS for the current fiscal year.

Farmland Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.24 annualized dividend and a dividend yield of 2.09%. Farmland Partners's dividend payout ratio is currently 23.53%.

Farmland Partners 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.