John A. Good, a director at Farmland Partners Inc . (NYSE:FPI), recently acquired 15,000 shares of the company's common stock. The purchase, which took place on December 19, 2024, was made at a weighted average price of $12.2344 per share, resulting in a total transaction value of $183,516. The shares were bought in multiple transactions at prices ranging from $12.1850 to $12.2900. The purchase comes as FPI trades near its 52-week high of $13.04 and offers an attractive 11.5% dividend yield. According to InvestingPro analysis, the stock appears overvalued at current levels. Following this transaction, Good now directly owns 101,465 shares of Farmland Partners. The company has maintained a strong dividend profile, having raised its dividend for three consecutive years. Discover more insights about FPI's insider trading patterns and 10+ additional ProTips with a comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Farmland Partners has reported robust Q3 results, underlined by significant asset sales and a strong operational performance. The company's net income for Q3 2024 was $1.8 million, and its Adjusted Funds from Operations (AFFO) stood at $1.4 million. It was highlighted that the company has managed to reduce its debt by nearly half over the past two years, which has led to a decrease in interest expenses despite rising interest rates.
Farmland Partners also announced a special dividend of $1 to $1.10 per share, continuing the pattern of the previous year. The company completed three acquisitions in Q1 and sold 52 properties in October for $308 million. Despite a decrease in net income due to prior year dispositions, the company's management confirmed no decrease in the regular common dividend for 2025 and expects flat to modest rent increases.
In terms of future prospects, Farmland Partners forecasts an AFFO range of $11.8 million to $14.8 million for 2024. The company also anticipates a special dividend of $1 to $1.10 per share at year-end, and rent projections for 2025 are expected to be flat to a modest increase of up to 5%. These recent developments point towards a strong financial position for Farmland Partners.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.