Fintel reports that BlackRock has filed a 13G form with the SEC disclosing ownership of 3.54MM shares of Farmland Partners Inc (FPI). This represents 6.5% of the company.
In their previous filing dated November 24, 2021 they reported 2.13MM shares and 4.70% of the company, an increase in shares of 66.57% and an increase in total ownership of 1.80% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 23.44% Upside
As of February 3, 2023, the average one-year price target for Farmland Partners is $15.91. The forecasts range from a low of $14.14 to a high of $17.85. The average price target represents an increase of 23.44% from its latest reported closing price of $12.89.
The projected annual revenue for Farmland Partners is $62MM, an increase of 4.80%. The projected annual EPS is $0.14, a decrease of 22.10%.
Fund Sentiment
There are 309 funds or institutions reporting positions in Farmland Partners. This is a decrease of 13 owner(s) or 4.04%.
Average portfolio weight of all funds dedicated to US:FPI is 0.1298%, an increase of 8.3894%. Total shares owned by institutions increased in the last three months by 5.35% to 29,173K shares.
What are large shareholders doing?
Global Alpha Capital Management holds 3,146,963 shares representing 5.79% ownership of the company. In it's prior filing, the firm reported owning 2,875,563 shares, representing an increase of 8.62%. The firm decreased its portfolio allocation in FPI by 6.93% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,386,534 shares representing 2.55% ownership of the company. In it's prior filing, the firm reported owning 1,324,098 shares, representing an increase of 4.50%. The firm increased its portfolio allocation in FPI by 0.22% over the last quarter.
Massachusetts Financial Services holds 1,188,675 shares representing 2.19% ownership of the company. In it's prior filing, the firm reported owning 0 shares, representing an increase of 100.00%.
IWM - iShares Russell 2000 ETF holds 1,053,353 shares representing 1.94% ownership of the company. In it's prior filing, the firm reported owning 955,986 shares, representing an increase of 9.24%. The firm increased its portfolio allocation in FPI by 9.56% over the last quarter.
Geode Capital Management holds 856,233 shares representing 1.58% ownership of the company. In it's prior filing, the firm reported owning 698,304 shares, representing an increase of 18.44%. The firm increased its portfolio allocation in FPI by 16.57% over the last quarter.
Farmland Partners Declares $0.06 Dividend
Farmland Partners said on October 24, 2022 that its board of directors declared a regular quarterly dividend of $0.06 per share ($0.24 annualized). Shareholders of record as of December 29, 2022 received the payment on January 17, 2023. Previously, the company paid $0.06 per share.
At the current share price of $12.89 / share, the stock's dividend yield is 1.86%. Looking back five years and taking a sample every week, the average dividend yield has been 2.79%, the lowest has been 1.35%, and the highest has been 6.85%. The standard deviation of yields is 1.30 (n=237).
The current dividend yield is 0.72 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.72. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.20%, demonstrating that it has increased its dividend over time.
Farmland Partners Background Information
(This description is provided by the company.)
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 31 March 2021, the Company owns approximately 150,000 acres in 16 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota and Virginia. The company has approximately 26 crop types and over 100 tenants. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
