Farmland Partners (NYSE:FPI) Sees Unusually-High Trading Volume – Here’s Why

Farmland Partners Inc. (NYSE:FPI) saw strong trading volume on Wednesday . 193,576 shares changed hands during mid-day trading, a decline of 35% from the previous session’s volume of 297,350 shares.The stock last traded at $11.71 and had previously closed at $11.63.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Farmland Partners from a “sell” rating to a “hold” rating in a report on Saturday, November 9th.

Farmland Partners Price Performance

The stock has a market capitalization of $567.48 million, a P/E ratio of 42.07 and a beta of 0.70. The stock’s fifty day moving average is $12.13 and its 200-day moving average is $11.19.

Farmland Partners Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Monday, December 23rd will be given a $1.15 dividend. This is an increase from Farmland Partners’s previous dividend of $0.13. The ex-dividend date of this dividend is Monday, December 23rd. Farmland Partners’s payout ratio is currently 85.71%.

Insider Activity

In related news, Director John A. Good purchased 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average price of $12.23 per share, with a total value of $183,450.00. Following the purchase, the director now directly owns 101,465 shares in the company, valued at $1,240,916.95. This represents a 17.35 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Farmland Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP bought a new position in Farmland Partners in the 3rd quarter valued at $105,000. Point72 Asset Management L.P. bought a new stake in shares of Farmland Partners in the third quarter worth about $111,000. MQS Management LLC bought a new stake in Farmland Partners during the 2nd quarter worth approximately $134,000. D.A. Davidson & CO. increased its position in shares of Farmland Partners by 11.3% during the third quarter. D.A. Davidson & CO. now owns 11,639 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 1,182 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Farmland Partners during the third quarter worth about $123,000. Institutional investors and hedge funds own 58.00% of the company’s stock.

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 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.