BlackRock Inc. Cuts Stake in Farmland Partners Inc (FPI)
BlackRock Inc. cut its position in Farmland Partners Inc (NYSE:FPI) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,076,788 shares of the financial services provider’s stock after selling 19,501 shares during the period. BlackRock Inc. owned approximately 0.07% of Farmland Partners worth $9,429,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Rhumbline Advisers grew its holdings in Farmland Partners by 45.2% during the fourth quarter. Rhumbline Advisers now owns 52,320 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 16,298 shares during the period. Pembroke Management LTD acquired a new stake in Farmland Partners during the fourth quarter worth about $91,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Farmland Partners during the fourth quarter worth about $184,000. Taylor Frigon Capital Management LLC grew its holdings in Farmland Partners by 28.6% during the fourth quarter. Taylor Frigon Capital Management LLC now owns 187,224 shares of the financial services provider’s stock worth $850,000 after acquiring an additional 41,626 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Farmland Partners by 1,267.7% during the third quarter. JPMorgan Chase & Co. now owns 121,587 shares of the financial services provider’s stock worth $814,000 after acquiring an additional 112,697 shares during the period. 45.57% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently commented on the company. Zacks Investment Research lowered Farmland Partners from a “hold” rating to a “sell” rating in a report on Friday, December 28th. ValuEngine raised Farmland Partners from a “sell” rating to a “hold” rating in a report on Monday, February 4th.
Farmland Partners (NYSE:FPI) last posted its earnings results on Wednesday, March 13th. The financial services provider reported $0.09 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.13). The company had revenue of $20.89 million for the quarter, compared to analyst estimates of $23.66 million. Farmland Partners had a return on equity of 3.52% and a net margin of 21.83%. Analysts predict that Farmland Partners Inc will post 0.23 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, March 29th. This represents a $0.20 dividend on an annualized basis and a yield of 3.04%. Farmland Partners’s dividend payout ratio is currently 83.33%.
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 approximately 162,000 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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