In November, Farmland Partners Inc.’s (NYSE: FPI) short interest significantly decreased. As of November 15, 1,770,000 shares were shorted, down 15.3% from 2,090,000 on October 31. Based on an average daily volume of 405,800 shares, the current short-interest ratio is 4.4 days.
Shares of FPI stock rose $0.18 during Friday’s market hours to $13.46. The stock traded at 524,112 shares as opposed to the typical 313,279 shares. The 12-month high and low for Farmland Partners are $16.43 and $10.62, respectively. Simple moving averages for the company’s 50-day and 200-day periods are $13.39 and $14.03, respectively. The business has a market value of $734.65 million, a PE ratio of 70.85, and a beta of 0.75.
Recently, several research firms voiced their perspectives on FPI. In a report released on September 14, Raymond James increased its “outperform” rating and price objective on Farmland Partners shares from $15.00 to $17.00. StockNews.com began covering Farmland Partners’ stock on Wednesday, October 12. They rated the stock “sell.”
The business also disclosed a quarterly dividend that would be paid on January 17. Shareholders of record on January 2 will receive an annual dividend of $0.06 per share. The ex-dividend date is Thursday, December 29. This yield is 1.78% and a $0.24 dividend value per year. Farmland Partners’ payout percentage is 126.32%.
Large investors have recently bought and sold shares of the stock. Great West Life Assurance Co. made an approximate $36,000 investment in new Farmland Partners stock during the third quarter. In the second quarter, Northwestern Mutual Wealth Management Co. added shares of Farmland Partners to its new stock position, worth around $42,000. Amalgamated Bank added a new position in Farmland Partners shares worth around $48,000 during the first quarter. Farmland Partners got a fresh investment from Lazard Asset Management LLC for about $53,000 during the third quarter. Shares of Farmland Partners, valued at about $62,000, were added to Allspring Global Investments Holdings LLC’s holdings during the third quarter. Institutional investors and hedge funds own 42.52% of the company’s stock.
Farmland Partners Inc., a privately held real estate company, owns and actively seeks out rich farmland in North America. Additionally, it provides farmers with loans secured by farmland. The company owned about 155,000 acres as of this release in 16 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota, and Virginia.
