Farmland Partners Inc (NYSE:FPI) CEO Paul A. Pittman bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $6.31 per share, with a total value of $12,620.00. Following the transaction, the chief executive officer now owns 2,376,794 shares of the company’s stock, valued at approximately $14,997,570.14. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of NYSE:FPI traded up $0.12 during midday trading on Friday, reaching $6.40. 58,600 shares of the company were exchanged, compared to its average volume of 137,942. The business’s fifty day moving average is $6.41 and its two-hundred day moving average is $6.20. Farmland Partners Inc has a one year low of $4.45 and a one year high of $7.85. The stock has a market cap of $186.20 million, a PE ratio of 39.31 and a beta of 0.74.
Farmland Partners (NYSE:FPI) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.11. Farmland Partners had a net margin of 30.75% and a return on equity of 5.13%. The firm had revenue of $10.95 million during the quarter, compared to analyst estimates of $11.03 million. As a group, sell-side analysts forecast that Farmland Partners Inc will post 0.13 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of the stock. Ellis Investment Partners LLC bought a new position in Farmland Partners during the first quarter valued at $28,000. BNP Paribas Arbitrage SA lifted its position in Farmland Partners by 402.2% during the first quarter. BNP Paribas Arbitrage SA now owns 5,630 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 4,509 shares during the last quarter. Two Sigma Advisers LP bought a new position in Farmland Partners during the fourth quarter valued at $62,000. Cubist Systematic Strategies LLC bought a new position in Farmland Partners during the second quarter valued at $80,000. Finally, SG Americas Securities LLC bought a new position in Farmland Partners during the second quarter valued at $105,000. Hedge funds and other institutional investors own 45.83% of the company’s stock.
FPI has been the subject of a number of research reports. TheStreet lowered shares of Farmland Partners from a “c-” rating to a “d+” rating in a research report on Thursday, June 6th. Zacks Investment Research lowered shares of Farmland Partners from a “hold” rating to a “sell” rating in a research report on Thursday, July 25th. Finally, ValuEngine lowered shares of Farmland Partners from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.
Farmland Partners Company 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 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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