Janney Montgomery Scott LLC Sells 134 Shares of Farmland Partners Inc. (FPI)
Janney Montgomery Scott LLC cut its position in shares of Farmland Partners Inc. (NYSE:FPI) by 0.9% during the second quarter, Holdings Channel reports. The fund owned 14,136 shares of the company’s stock after selling 134 shares during the period. Janney Montgomery Scott LLC owned about 0.12% of Farmland Partners worth $155,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in FPI. Uniplan Investment Counsel Inc. increased its stake in Farmland Partners by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 567,524 shares of the company’s stock worth $6,090,000 after buying an additional 1,849 shares during the last quarter. Gilman Hill Asset Management LLC increased its stake in Farmland Partners by 84.0% in the second quarter. Gilman Hill Asset Management LLC now owns 367,197 shares of the company’s stock worth $4,157,000 after buying an additional 167,583 shares during the last quarter. Granite Investment Partners LLC increased its stake in Farmland Partners by 23.4% in the first quarter. Granite Investment Partners LLC now owns 145,908 shares of the company’s stock worth $1,566,000 after buying an additional 27,652 shares during the last quarter. Renaissance Technologies LLC increased its stake in Farmland Partners by 102.5% in the first quarter. Renaissance Technologies LLC now owns 142,141 shares of the company’s stock worth $1,525,000 after buying an additional 71,935 shares during the last quarter. Finally, Tocqueville Asset Management L.P. increased its stake in Farmland Partners by 50.1% in the second quarter. Tocqueville Asset Management L.P. now owns 129,650 shares of the company’s stock worth $1,468,000 after buying an additional 43,300 shares during the last quarter. Institutional investors own 34.10% of the company’s stock.
Farmland Partners Inc. (NYSE:FPI) traded up 0.55% during mid-day trading on Wednesday, reaching $10.96. 126,470 shares of the company traded hands. Farmland Partners Inc. has a 52-week low of $9.54 and a 52-week high of $11.98. The stock has a 50-day moving average of $11.34 and a 200 day moving average of $11.16. The stock’s market capitalization is $142.79 million.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 4.65%. The ex-dividend date is Wednesday, September 28th. Farmland Partners’s dividend payout ratio (DPR) is presently -728.47%.
Separately, Zacks Investment Research downgraded shares of Farmland Partners from a “hold” rating to a “sell” rating in a report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Farmland Partners currently has an average rating of “Buy” and a consensus target price of $12.00.
In other Farmland Partners news, insider Paul A. Pittman purchased 33,600 shares of Farmland Partners stock in a transaction on Monday, August 29th. The shares were bought at an average price of $10.42 per share, with a total value of $350,112.00. Following the completion of the acquisition, the insider now directly owns 461,304 shares of the company’s stock, valued at $4,806,787.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. 11.02% of the stock is currently owned by company insiders.
About Farmland Partners
Farmland Partners, Inc is an internally managed real estate company. The Company owns and seeks to acquire primary crop farmland located in agricultural markets throughout North America. The Company is the sole member of the general partner of Farmland Partners Operating Partnership, LP. The Company’s principal investment focus is on farmland located in agricultural markets throughout North America, however, it may seek to acquire farmland outside of North America.
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