Alliancebernstein L.P. boosted its stake in shares of Farmland Partners (NYSE:FPI) by 1,542.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 275,850 shares of the financial services provider’s stock after buying an additional 259,050 shares during the period. Alliancebernstein L.P.’s holdings in Farmland Partners were worth $2,394,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Sheaff Brock Investment Advisors LLC raised its holdings in Farmland Partners by 62.5% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 26,000 shares of the financial services provider’s stock worth $226,000 after buying an additional 10,000 shares during the period. Citadel Advisors LLC raised its holdings in Farmland Partners by 49.2% during the 4th quarter. Citadel Advisors LLC now owns 23,873 shares of the financial services provider’s stock worth $207,000 after buying an additional 7,873 shares during the period. Virtu Financial LLC acquired a new stake in Farmland Partners during the 4th quarter worth approximately $237,000. BlackRock Inc. raised its holdings in shares of Farmland Partners by 2.2% in the fourth quarter. BlackRock Inc. now owns 2,043,650 shares of the financial services provider’s stock valued at $17,739,000 after purchasing an additional 43,263 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Farmland Partners by 9.8% in the fourth quarter. Bank of New York Mellon Corp now owns 313,773 shares of the financial services provider’s stock valued at $2,723,000 after purchasing an additional 27,895 shares during the last quarter. Hedge funds and other institutional investors own 45.60% of the company’s stock.
NYSE FPI opened at $8.22 on Friday. Farmland Partners has a 12-month low of $7.15 and a 12-month high of $11.15. The company has a market capitalization of $275.67, a PE ratio of 22.83 and a beta of 0.08.
Farmland Partners (NYSE:FPI) last posted its quarterly earnings data on Thursday, March 1st. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.06). Farmland Partners had a net margin of 17.12% and a return on equity of 2.08%. The business had revenue of $15.56 million during the quarter, compared to analyst estimates of $15.76 million. sell-side analysts predict that Farmland Partners will post 0.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be paid a $0.127 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $0.51 annualized dividend and a dividend yield of 6.18%. Farmland Partners’s dividend payout ratio is presently 141.67%.
FPI has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Farmland Partners from a “hold” rating to a “buy” rating and set a $9.75 price objective on the stock in a report on Tuesday, January 16th. B. Riley reiterated a “hold” rating and issued a $9.00 price objective on shares of Farmland Partners in a report on Monday, March 5th. Janney Montgomery Scott downgraded shares of Farmland Partners from a “buy” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a report on Friday, March 16th. Finally, ValuEngine downgraded shares of Farmland Partners from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $9.13.
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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 or has under contract over 166,000 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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