Janney Montgomery Scott LLC Sells 1,240 Shares of Farmland Partners Inc. (NYSE:FPI)
Janney Montgomery Scott LLC cut its position in shares of Farmland Partners Inc. (NYSE:FPI) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 118,974 shares of the financial services provider’s stock after selling 1,240 shares during the period. Janney Montgomery Scott LLC’s holdings in Farmland Partners were worth $1,064,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Clear Harbor Asset Management LLC raised its position in Farmland Partners by 3.7% in the first quarter. Clear Harbor Asset Management LLC now owns 14,603 shares of the financial services provider’s stock worth $163,000 after buying an additional 515 shares in the last quarter. Schnieders Capital Management LLC raised its position in Farmland Partners by 2.6% in the second quarter. Schnieders Capital Management LLC now owns 39,615 shares of the financial services provider’s stock worth $354,000 after buying an additional 1,000 shares in the last quarter. Winslow Evans & Crocker Inc. raised its position in Farmland Partners by 11.4% in the second quarter. Winslow Evans & Crocker Inc. now owns 25,778 shares of the financial services provider’s stock worth $230,000 after buying an additional 2,642 shares in the last quarter. Teachers Advisors LLC raised its position in Farmland Partners by 17.9% in the fourth quarter. Teachers Advisors LLC now owns 22,016 shares of the financial services provider’s stock worth $246,000 after buying an additional 3,349 shares in the last quarter. Finally, Bard Associates Inc. raised its position in Farmland Partners by 4.0% in the first quarter. Bard Associates Inc. now owns 115,425 shares of the financial services provider’s stock worth $1,289,000 after buying an additional 4,400 shares in the last quarter. Institutional investors own 38.93% of the company’s stock.
Farmland Partners Inc. (FPI) opened at 8.79 on Friday. Farmland Partners Inc. has a 52 week low of $8.55 and a 52 week high of $11.97. The firm has a market capitalization of $286.04 million, a price-to-earnings ratio of 156.96 and a beta of 0.18. The stock’s 50 day moving average is $8.92 and its 200-day moving average is $10.18.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, October 2nd will be issued a $0.127 dividend. The ex-dividend date is Friday, September 29th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.78%. Farmland Partners’s dividend payout ratio (DPR) is presently 425.04%.
COPYRIGHT VIOLATION WARNING: “Janney Montgomery Scott LLC Sells 1,240 Shares of Farmland Partners Inc. (NYSE:FPI)” was first posted by Watch List News and is owned by of Watch List News. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://www.watchlistnews.com/janney-montgomery-scott-llc-sells-1240-shares-of-farmland-partners-inc-nysefpi/1480452.html.
A number of research firms have commented on FPI. Zacks Investment Research upgraded shares of Farmland Partners from a “sell” rating to a “hold” rating in a research note on Friday. Stifel Nicolaus restated a “buy” rating and issued a $10.00 price objective (down from $11.75) on shares of Farmland Partners in a research note on Monday, June 19th. FBR & Co lowered shares of Farmland Partners from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $12.00 to $10.00 in a research note on Tuesday, July 18th. Finally, Robert W. Baird dropped their price target on shares of Farmland Partners from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, June 16th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $10.90.
In related news, Director Dennie Dixon Boardman sold 65,422 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $9.84, for a total value of $643,752.48. Following the sale, the director now owns 1,601 shares of the company’s stock, valued at approximately $15,753.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul A. Pittman acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was purchased at an average cost of $8.99 per share, for a total transaction of $44,950.00. Following the acquisition, the chief executive officer now owns 545,388 shares in the company, valued at $4,903,038.12. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 15,700 shares of company stock worth $149,202. Corporate insiders own 2.76% of the company’s stock.
About Farmland Partners
Farmland Partners, Inc is an internally managed real estate company. The Company owns and seeks to acquire 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 Operating Partnership).
Want to see what other hedge funds are holding FPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Farmland Partners Inc. (NYSE:FPI).
Receive News & Ratings for Farmland Partners Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Farmland Partners Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.