Global Alpha Capital Management Ltd. lessened its holdings in Farmland Partners Inc (NYSE:FPI) by 45.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 783,415 shares of the financial services provider’s stock after selling 640,310 shares during the quarter. Global Alpha Capital Management Ltd.’s holdings in Farmland Partners were worth $5,249,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vertex One Asset Management Inc. purchased a new stake in Farmland Partners in the 3rd quarter valued at $470,000. Goelzer Investment Management Inc. purchased a new stake in Farmland Partners in the 3rd quarter valued at $129,000. Virtu Financial LLC increased its position in shares of Farmland Partners by 90.4% during the 3rd quarter. Virtu Financial LLC now owns 27,781 shares of the financial services provider’s stock valued at $186,000 after purchasing an additional 13,188 shares during the last quarter. BlackRock Inc. increased its position in shares of Farmland Partners by 0.5% during the 3rd quarter. BlackRock Inc. now owns 2,096,289 shares of the financial services provider’s stock valued at $14,045,000 after purchasing an additional 10,175 shares during the last quarter. Finally, Forward Management LLC increased its position in shares of Farmland Partners by 83.4% during the 3rd quarter. Forward Management LLC now owns 93,700 shares of the financial services provider’s stock valued at $628,000 after purchasing an additional 42,600 shares during the last quarter. 49.64% of the stock is currently owned by institutional investors.
In other news, CEO Paul A. Pittman acquired 8,800 shares of the firm’s stock in a transaction that occurred on Wednesday, October 10th. The stock was bought at an average price of $6.22 per share, with a total value of $54,736.00. Following the acquisition, the chief executive officer now owns 1,229,521 shares in the company, valued at approximately $7,647,620.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Chris A. Downey acquired 15,395 shares of the firm’s stock in a transaction that occurred on Monday, October 15th. The stock was purchased at an average cost of $6.27 per share, with a total value of $96,526.65. Following the acquisition, the director now owns 7,386 shares in the company, valued at approximately $46,310.22. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 34,073 shares of company stock valued at $215,307. Insiders own 2.76% of the company’s stock.
FPI has been the subject of several research analyst reports. ValuEngine lowered Farmland Partners from a “hold” rating to a “sell” rating in a research report on Friday, November 16th. Zacks Investment Research lowered Farmland Partners from a “hold” rating to a “sell” rating in a research report on Monday, November 19th. Finally, B. Riley lowered Farmland Partners from a “buy” rating to a “neutral” rating and set a $7.50 target price for the company. in a research report on Tuesday, November 13th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $8.25.
Shares of Farmland Partners stock opened at $5.92 on Thursday. Farmland Partners Inc has a 1 year low of $5.15 and a 1 year high of $9.68. The firm has a market cap of $184.79 million, a PE ratio of 16.44 and a beta of -0.07.
Farmland Partners (NYSE:FPI) last announced its earnings results on Monday, November 5th. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. Farmland Partners had a return on equity of 2.98% and a net margin of 20.85%. The firm had revenue of $12.55 million during the quarter, compared to analyst estimates of $12.76 million. As a group, sell-side analysts predict that Farmland Partners Inc will post 0.29 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Tuesday, January 1st will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Friday, December 28th. Farmland Partners’s dividend payout ratio is presently 55.56%.
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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 the date of this release, the Company owns approximately 162,000 acres in 17 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota, Texas and Virginia.
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