Promus Capital LLC Takes $56,000 Position in Farmland Partners Inc. (NYSE:FPI)

Promus Capital LLC purchased a new stake in Farmland Partners Inc. (NYSE:FPI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,788 shares of the financial services provider’s stock, valued at approximately $56,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stifel Financial Corp increased its holdings in Farmland Partners by 130.0% during the 3rd quarter. Stifel Financial Corp now owns 111,254 shares of the financial services provider’s stock worth $1,163,000 after acquiring an additional 62,875 shares during the period. JPMorgan Chase & Co. increased its holdings in Farmland Partners by 27.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 125,695 shares of the financial services provider’s stock worth $1,314,000 after acquiring an additional 27,373 shares during the period. Nisa Investment Advisors LLC increased its holdings in Farmland Partners by 67.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 56,439 shares of the financial services provider’s stock worth $730,000 after acquiring an additional 22,774 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Farmland Partners by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 370,291 shares of the financial services provider’s stock worth $3,870,000 after acquiring an additional 19,805 shares during the period. Finally, Barclays PLC increased its holdings in Farmland Partners by 221.7% during the 3rd quarter. Barclays PLC now owns 68,150 shares of the financial services provider’s stock worth $712,000 after acquiring an additional 46,968 shares during the period. Institutional investors own 58.00% of the company’s stock.

Insider Activity

In other Farmland Partners news, Director John A. Good acquired 15,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was bought at an average price of $12.23 per share, with a total value of $183,450.00. Following the purchase, the director now owns 101,465 shares of the company’s stock, valued at approximately $1,240,916.95. This trade represents a 17.35 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Farmland Partners from a “sell” rating to a “hold” rating in a report on Friday, February 28th.

Farmland Partners Price Performance

Shares of NYSE:FPI opened at $11.36 on Thursday. The company’s fifty day moving average price is $11.71 and its 200-day moving average price is $11.42. The firm has a market capitalization of $521.31 million, a price-to-earnings ratio of 11.36 and a beta of 0.69. Farmland Partners Inc. has a one year low of $9.70 and a one year high of $12.87.

Farmland Partners (NYSE:FPI) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. Farmland Partners had a net margin of 102.89% and a return on equity of 11.47%. The company had revenue of $21.47 million during the quarter, compared to analysts’ expectations of $20.29 million. As a group, equities research analysts expect that Farmland Partners Inc. will post 0.13 EPS for the current year.

Farmland Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.11%. Farmland Partners’s dividend payout ratio (DPR) is 24.00%.

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.