Farmland Partners (NYSE:FPI) Stock Passes Above Fifty Day Moving Average – Here’s Why

Farmland Partners Inc. (NYSE:FPI)’s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $10.07 and traded as high as $11.07. Farmland Partners shares last traded at $10.9750, with a volume of 389,211 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Farmland Partners in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Farmland Partners Price Performance

The company has a 50 day simple moving average of $10.07 and a 200-day simple moving average of $10.42. The stock has a market capitalization of $473.02 million, a P/E ratio of 9.15 and a beta of 0.75.

Farmland Partners (NYSE:FPI) last released its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The firm had revenue of $11.25 million for the quarter, compared to analysts’ expectations of $10.59 million. Farmland Partners had a net margin of 130.10% and a return on equity of 14.37%. As a group, equities analysts forecast that Farmland Partners Inc. will post 0.13 earnings per share for the current fiscal year.

Farmland Partners Dividend Announcement

The business also recently declared a special dividend, which was paid on Wednesday, January 7th. Stockholders of record on Tuesday, December 23rd were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, December 23rd. Farmland Partners’s payout ratio is currently 20.00%.

Insider Buying and Selling

In other news, Director John A. Good purchased 3,000 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were purchased at an average price of $10.20 per share, for a total transaction of $30,600.00. Following the completion of the acquisition, the director directly owned 15,100 shares in the company, valued at $154,020. This represents a 24.79% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Evergreen Capital Management LLC grew its position in shares of Farmland Partners by 29.9% during the fourth quarter. Evergreen Capital Management LLC now owns 13,780 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 3,170 shares in the last quarter. Taylor Frigon Capital Management LLC increased its position in Farmland Partners by 13.9% during the 4th quarter. Taylor Frigon Capital Management LLC now owns 143,622 shares of the financial services provider’s stock valued at $1,392,000 after purchasing an additional 17,501 shares during the period. State of Alaska Department of Revenue raised its position in shares of Farmland Partners by 6.0% in the 4th quarter. State of Alaska Department of Revenue now owns 23,744 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 1,339 shares in the last quarter. Brookwood Investment Group LLC increased its position in shares of Farmland Partners by 11.1% during the fourth quarter. Brookwood Investment Group LLC now owns 27,013 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Accordant Advisory Group Inc lifted its position in Farmland Partners by 14.7% during the 4th quarter. Accordant Advisory Group Inc now owns 1,337,831 shares of the financial services provider’s stock worth $12,964,000 after acquiring an additional 171,813 shares during the period. 58.00% of the stock is currently owned by institutional investors.

Farmland Partners Company Profile

Farmland Partners Inc is a real estate investment trust (REIT) that acquires and manages high-quality farmland in the United States. The company’s primary business activity is the ownership of agricultural land, which it leases to farmers under various rental arrangements designed to generate stable cash rents and long-term capital appreciation. By focusing on farmland as a real asset, the company seeks to benefit from rising global demand for food, fiber and renewable fuels.

Founded in 2013 and headquartered in Scottsdale, Arizona, Farmland Partners completed its initial public offering in June 2017 and began trading on the New York Stock Exchange under the ticker FPI.