Summit Asset Management LLC Takes Position in Farmland Partners Inc. $FPI

Summit Asset Management LLC acquired a new position in Farmland Partners Inc. (NYSE:FPI) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 97,465 shares of the financial services provider’s stock, valued at approximately $1,122,000. Summit Asset Management LLC owned about 0.22% of Farmland Partners at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new stake in Farmland Partners during the second quarter valued at approximately $28,000. Gables Capital Management Inc. bought a new position in shares of Farmland Partners in the second quarter valued at $40,000. Strs Ohio acquired a new stake in shares of Farmland Partners during the 1st quarter valued at $96,000. New Age Alpha Advisors LLC bought a new stake in shares of Farmland Partners during the 1st quarter worth $109,000. Finally, LaSalle St. Investment Advisors LLC acquired a new position in shares of Farmland Partners in the 1st quarter worth $140,000. 58.00% of the stock is currently owned by institutional investors.

Farmland Partners Trading Down 0.4%

Shares of NYSE FPI opened at $9.70 on Friday. Farmland Partners Inc. has a one year low of $9.63 and a one year high of $12.87. The business has a 50-day moving average price of $10.52 and a two-hundred day moving average price of $10.80. The firm has a market capitalization of $417.84 million, a PE ratio of 8.08 and a beta of 0.88.

Farmland Partners (NYSE:FPI) last released 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 company had revenue of $5.99 million during the quarter, compared to the consensus estimate 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. Research analysts anticipate that Farmland Partners Inc. will post 0.13 EPS for the current year.

Farmland Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Friday, January 2nd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $0.24 dividend on an annualized basis and a yield of 2.5%. Farmland Partners’s dividend payout ratio (DPR) is presently 20.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FPI. Wall Street Zen downgraded Farmland Partners from a “hold” rating to a “sell” rating in a report on Saturday, September 20th. Weiss Ratings restated a “hold (c)” rating on shares of Farmland Partners in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, 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.