Summit Asset Management LLC Buys Shares of 97,465 Farmland Partners Inc. $FPI

Summit Asset Management LLC bought a new position in Farmland Partners Inc. (NYSE:FPI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 97,465 shares of the financial services provider’s stock, valued at approximately $1,122,000.

Several other hedge funds also recently modified their holdings of FPI. Global Alpha Capital Management Ltd. raised its holdings in Farmland Partners by 2.3% during the first quarter. Global Alpha Capital Management Ltd. now owns 3,465,969 shares of the financial services provider’s stock valued at $38,646,000 after buying an additional 78,200 shares in the last quarter. Nuveen LLC acquired a new position in shares of Farmland Partners during the 1st quarter valued at about $1,158,000. Hsbc Holdings PLC acquired a new position in shares of Farmland Partners during the 1st quarter valued at about $179,000. State of Wyoming raised its stake in shares of Farmland Partners by 976.7% in the 1st quarter. State of Wyoming now owns 48,203 shares of the financial services provider’s stock valued at $537,000 after acquiring an additional 43,726 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Farmland Partners by 8.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 167,330 shares of the financial services provider’s stock worth $1,866,000 after purchasing an additional 12,358 shares during the last quarter. Institutional investors and hedge funds own 58.00% of the company’s stock.

Farmland Partners Stock Down 0.4%

Shares of FPI stock opened at $9.70 on Friday. Farmland Partners Inc. has a 12 month low of $9.63 and a 12 month high of $12.87. The firm has a market cap of $417.84 million, a PE ratio of 8.08 and a beta of 0.88. The stock has a 50 day moving average of $10.52 and a 200-day moving average of $10.80.

Farmland Partners (NYSE:FPI) last announced its earnings results on Wednesday, October 29th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $5.99 million for the quarter, compared to analyst estimates of $10.59 million. Farmland Partners had a net margin of 130.10% and a return on equity of 14.15%. Farmland Partners has set its FY 2025 guidance at 0.320-0.360 EPS. As a group, equities analysts predict that Farmland Partners Inc. will post 0.13 EPS for the current fiscal year.

Farmland Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, January 2nd. This represents a $0.24 annualized dividend and a dividend yield of 2.5%. Farmland Partners’s payout ratio is presently 20.00%.

Wall Street Analysts Forecast Growth

FPI has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Farmland Partners in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Farmland Partners from a “hold” rating to a “sell” rating in a research note on Saturday, September 20th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Farmland Partners has a consensus rating of “Hold”.

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.