Farmland Partners (NYSE:FPI) Upgraded by StockNews.com to “Hold” Rating

by · The Markets Daily

Farmland Partners (NYSE:FPI – Get Free Report) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

Farmland Partners Trading Up 6.2 %

NYSE:FPI traded up $0.69 during trading hours on Thursday, hitting $11.73. 539,351 shares of the company traded hands, compared to its average volume of 321,652. Farmland Partners has a twelve month low of $9.70 and a twelve month high of $13.12. The firm has a 50-day moving average of $10.54 and a 200 day moving average of $10.81. The stock has a market capitalization of $564.76 million, a price-to-earnings ratio of 41.88 and a beta of 0.70.

Insider Activity at Farmland Partners

In other Farmland Partners news, Director John A. Good purchased 24,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $10.15 per share, for a total transaction of $243,600.00. Following the completion of the purchase, the director now directly owns 86,465 shares of the company’s stock, valued at approximately $877,619.75. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Farmland Partners

Several hedge funds and other institutional investors have recently modified their holdings of FPI. Massachusetts Financial Services Co. MA raised its stake in shares of Farmland Partners by 6.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,461,738 shares of the financial services provider’s stock valued at $39,914,000 after acquiring an additional 202,264 shares during the last quarter. Accordant Advisory Group Inc boosted its stake in Farmland Partners by 56.9% in the third quarter. Accordant Advisory Group Inc now owns 812,976 shares of the financial services provider’s stock worth $8,496,000 after purchasing an additional 294,980 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Farmland Partners during the second quarter worth $1,853,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Farmland Partners by 11.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,855 shares of the financial services provider’s stock valued at $143,000 after buying an additional 1,286 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Farmland Partners during the 1st quarter worth about $196,000. Institutional investors own 58.00% of the company’s stock.

Farmland Partners Company Profile

(Get Free Report)

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.

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