Clark Capital Management Group Inc. increased its position in shares of Farmland Partners Inc (NYSE:FPI) by 15.3% in the 1st quarter, Holdings Channel reports. The firm owned 241,978 shares of the financial services provider’s stock after purchasing an additional 32,089 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Farmland Partners were worth $1,549,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the stock. Citigroup Inc. lifted its holdings in Farmland Partners by 29.5% during the 4th quarter. Citigroup Inc. now owns 11,326 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 2,579 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Farmland Partners by 402.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,630 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 4,509 shares during the last quarter. Bank of America Corp DE lifted its holdings in Farmland Partners by 10.7% during the 4th quarter. Bank of America Corp DE now owns 80,886 shares of the financial services provider’s stock worth $367,000 after purchasing an additional 7,847 shares during the last quarter. Stifel Financial Corp lifted its holdings in Farmland Partners by 10.9% during the 4th quarter. Stifel Financial Corp now owns 85,700 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 8,400 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Farmland Partners by 0.5% during the 3rd quarter. BlackRock Inc. now owns 2,096,289 shares of the financial services provider’s stock worth $14,045,000 after purchasing an additional 10,175 shares during the last quarter. 44.93% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on FPI. Zacks Investment Research raised Farmland Partners from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. ValuEngine raised Farmland Partners from a “sell” rating to a “hold” rating in a report on Monday, February 4th.
Farmland Partners (NYSE:FPI) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.03). The company had revenue of $10.89 million during the quarter, compared to analyst estimates of $11.30 million. Farmland Partners had a net margin of 21.18% and a return on equity of 3.47%. Equities research analysts anticipate that Farmland Partners Inc will post 0.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $0.05 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.20 annualized dividend and a yield of 3.29%. Farmland Partners’s dividend payout ratio is presently 83.33%.
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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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