Renaissance Technologies LLC raised its stake in shares of Farmland Partners Inc (NYSE:FPI) by 146.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,900 shares of the financial services provider’s stock after buying an additional 54,600 shares during the quarter. Renaissance Technologies LLC owned about 0.27% of Farmland Partners worth $648,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Farmland Partners by 33.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 77,026 shares of the financial services provider’s stock worth $544,000 after purchasing an additional 19,178 shares in the last quarter. Sawtooth Solutions LLC grew its stake in Farmland Partners by 77.4% in the second quarter. Sawtooth Solutions LLC now owns 31,922 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 13,925 shares in the last quarter. Global Alpha Capital Management Ltd. boosted its stake in Farmland Partners by 2.7% in the second quarter. Global Alpha Capital Management Ltd. now owns 1,308,034 shares of the financial services provider’s stock valued at $9,222,000 after acquiring an additional 34,690 shares during the period. SG Americas Securities LLC acquired a new position in Farmland Partners in the second quarter valued at approximately $105,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Farmland Partners by 73.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 35,087 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 14,893 shares during the period. Hedge funds and other institutional investors own 50.43% of the company’s stock.
FPI has been the subject of a number of research reports. ValuEngine downgraded Farmland Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Zacks Investment Research upgraded Farmland Partners from a “sell” rating to a “hold” rating in a research note on Wednesday.
Shares of FPI stock opened at $6.55 on Friday. The business has a 50 day moving average of $6.46 and a two-hundred day moving average of $6.44. Farmland Partners Inc has a 52 week low of $4.45 and a 52 week high of $7.85. The company has a market cap of $187.98 million, a P/E ratio of 39.69 and a beta of 0.76.
Farmland Partners (NYSE:FPI) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.11. The company had revenue of $10.95 million during the quarter, compared to the consensus estimate of $11.03 million. Farmland Partners had a return on equity of 5.13% and a net margin of 30.75%. As a group, analysts anticipate that Farmland Partners Inc will post 0.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.20 annualized dividend and a yield of 3.05%. Farmland Partners’s payout ratio is 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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