Insider Buying: Farmland Partners Inc (FPI) Director Acquires $96,526.65 in Stock

Farmland Partners Inc (NYSE:FPI) Director Chris A. Downey purchased 15,395 shares of Farmland Partners stock in a transaction that occurred on Monday, October 15th. The stock was bought at an average cost of $6.27 per share, with a total value of $96,526.65. Following the completion of the transaction, the director now owns 7,386 shares of the company’s stock, valued at $46,310.22. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of FPI opened at $6.81 on Friday. Farmland Partners Inc has a 1-year low of $5.15 and a 1-year high of $9.68. The firm has a market capitalization of $221.86 million and a P/E ratio of 25.96.

Farmland Partners (NYSE:FPI) last announced its earnings results on Wednesday, August 8th. The financial services provider reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). Farmland Partners had a net margin of 18.22% and a return on equity of 2.52%. The business had revenue of $11.42 million during the quarter, compared to analysts’ expectations of $12.23 million. As a group, equities analysts predict that Farmland Partners Inc will post 0.29 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, October 1st were issued a $0.05 dividend. The ex-dividend date was Friday, September 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.94%. Farmland Partners’s payout ratio is 55.56%.

Several large investors have recently made changes to their positions in FPI. Barclays PLC raised its holdings in shares of Farmland Partners by 95.1% in the first quarter. Barclays PLC now owns 18,530 shares of the financial services provider’s stock valued at $155,000 after buying an additional 9,034 shares during the last quarter. North Star Investment Management Corp. purchased a new stake in shares of Farmland Partners in the second quarter valued at about $2,054,000. Pier 88 Investment Partners LLC purchased a new stake in shares of Farmland Partners in the second quarter valued at about $1,090,000. Taylor Frigon Capital Management LLC purchased a new stake in shares of Farmland Partners in the second quarter valued at about $1,128,000. Finally, Global Alpha Capital Management Ltd. raised its holdings in shares of Farmland Partners by 1.0% in the second quarter. Global Alpha Capital Management Ltd. now owns 1,423,725 shares of the financial services provider’s stock valued at $12,529,000 after buying an additional 13,400 shares during the last quarter. 51.79% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on the stock. ValuEngine raised shares of Farmland Partners from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 14th. Raymond James raised shares of Farmland Partners from a “market perform” rating to an “outperform” rating in a research report on Wednesday, July 18th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Farmland Partners from a “hold” rating to a “sell” rating in a research report on Monday, July 16th. Finally, B. Riley raised shares of Farmland Partners from a “neutral” rating to a “buy” rating and reduced their price target for the company from $8.50 to $8.00 in a research report on Thursday, July 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $8.42.

About Farmland Partners

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 over 165,000 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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