Carnegie Capital Asset Management LLC Takes $1.54 Million Position in Farmland Partners Inc. (NYSE:FPI)



Carnegie Capital Asset Management LLC acquired a new stake in Farmland Partners Inc. (NYSE:FPI – Get Rating) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 112,250 shares of the financial services provider’s stock, valued at approximately $1,543,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Laurel Wealth Advisors Inc. acquired a new stake in shares of Farmland Partners in the fourth quarter valued at approximately $352,000. Point72 Hong Kong Ltd bought a new position in shares of Farmland Partners in the fourth quarter valued at $30,000. ClariVest Asset Management LLC grew its stake in shares of Farmland Partners by 48.4% in the fourth quarter. ClariVest Asset Management LLC now owns 128,800 shares of the financial services provider’s stock valued at $1,539,000 after buying an additional 42,000 shares in the last quarter. Rockefeller Capital Management LP bought a new position in shares of Farmland Partners in the fourth quarter valued at $67,000. Finally, Renaissance Technologies LLC grew its stake in shares of Farmland Partners by 462.9% in the fourth quarter. Renaissance Technologies LLC now owns 468,357 shares of the financial services provider’s stock valued at $5,597,000 after buying an additional 385,157 shares in the last quarter. Institutional investors own 44.28% of the company’s stock.

In other news, CEO Paul A. Pittman bought 2,000 shares of the company’s stock in a transaction dated Friday, March 25th. The stock was bought at an average price of $13.44 per share, with a total value of $26,880.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.30% of the stock is currently owned by company insiders.

FPI stock opened at $14.57 on Thursday. The company has a fifty day moving average price of $14.69 and a two-hundred day moving average price of $13.10. Farmland Partners Inc. has a one year low of $10.62 and a one year high of $16.43. The stock has a market cap of $729.48 million, a price-to-earnings ratio of -66.23 and a beta of 0.70.

Farmland Partners (NYSE:FPI – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The financial services provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). Farmland Partners had a return on equity of 1.39% and a net margin of 10.44%. During the same quarter in the prior year, the firm earned ($0.05) EPS. Research analysts expect that Farmland Partners Inc. will post 0.23 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, July 1st will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, June 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.65%. This is an increase from Farmland Partners’s previous quarterly dividend of $0.05. Farmland Partners’s dividend payout ratio (DPR) is currently -90.91%.

Several research firms recently weighed in on FPI. StockNews.com cut shares of Farmland Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, June 1st. Raymond James raised their target price on shares of Farmland Partners from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, March 16th. Roth Capital began coverage on shares of Farmland Partners in a research note on Tuesday. They issued a “buy” rating and a $16.00 target price for the company. Finally, B. Riley raised their target price on shares of Farmland Partners from $13.00 to $16.00 in a research note on Monday, May 9th.

Farmland Partners Company Profile (Get Rating)

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 155,000 acres in 16 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Carolina Dakota and Virginia.

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Institutional Ownership by Quarter for Farmland Partners (NYSE:FPI)



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