Paul A. Pittman Buys 2,200 Shares of Farmland Partners Inc (FPI) Stock
Farmland Partners Inc (NYSE:FPI) CEO Paul A. Pittman bought 2,200 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were purchased at an average cost of $9.76 per share, with a total value of $21,472.00. Following the purchase, the chief executive officer now directly owns 542,914 shares of the company’s stock, valued at $5,298,840.64. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
Farmland Partners Inc (NYSE:FPI) traded up 0.41% during trading on Tuesday, hitting $9.71. The company had a trading volume of 201,730 shares. Farmland Partners Inc has a 12-month low of $9.53 and a 12-month high of $11.98. The firm has a 50-day moving average of $10.68 and a 200 day moving average of $10.95. The company has a market capitalization of $311.75 million, a price-to-earnings ratio of 571.18 and a beta of 0.19.
Farmland Partners (NYSE:FPI) last released its quarterly earnings data on Monday, May 8th. The financial services provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by $0.15. The company had revenue of $7.15 million during the quarter, compared to the consensus estimate of $9.34 million. Farmland Partners had a net margin of 1.08% and a return on equity of 0.15%. On average, equities research analysts forecast that Farmland Partners Inc will post $0.15 earnings per share for the current year.
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A number of research firms recently weighed in on FPI. TheStreet upgraded Farmland Partners from a “d” rating to a “c-” rating in a research report on Monday, April 10th. Zacks Investment Research lowered Farmland Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, January 31st.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Farmland Partners by 110.1% in the first quarter. Vanguard Group Inc. now owns 1,222,510 shares of the financial services provider’s stock worth $13,655,000 after buying an additional 640,730 shares in the last quarter. Uniplan Investment Counsel Inc. increased its stake in Farmland Partners by 4.4% in the first quarter. Uniplan Investment Counsel Inc. now owns 642,216 shares of the financial services provider’s stock worth $7,173,000 after buying an additional 26,892 shares in the last quarter. Morgan Stanley increased its stake in Farmland Partners by 843.1% in the first quarter. Morgan Stanley now owns 480,239 shares of the financial services provider’s stock worth $5,364,000 after buying an additional 429,317 shares in the last quarter. Shufro Rose & Co. LLC increased its stake in Farmland Partners by 150.3% in the first quarter. Shufro Rose & Co. LLC now owns 435,320 shares of the financial services provider’s stock worth $4,863,000 after buying an additional 261,420 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. increased its stake in Farmland Partners by 115.7% in the third quarter. Global Alpha Capital Management Ltd. now owns 314,883 shares of the financial services provider’s stock worth $3,527,000 after buying an additional 168,883 shares in the last quarter. Institutional investors and hedge funds own 35.89% of the company’s stock.
About Farmland Partners
Farmland Partners, Inc is an internally managed real estate company. The Company owns and seeks to acquire farmland located in agricultural markets throughout North America. The Company is the sole member of the general partner of Farmland Partners Operating Partnership, LP (the Operating Partnership).
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