Farmland Partners Inc. (NYSE:FPI) Shares Sold by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC lessened its stake in Farmland Partners Inc. (NYSE:FPI) by 51.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 56,450 shares of the financial services provider’s stock after selling 59,038 shares during the quarter. Pier 88 Investment Partners LLC owned 0.12% of Farmland Partners worth $590,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in FPI. Massachusetts Financial Services Co. MA raised its holdings in shares of Farmland Partners by 6.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,461,738 shares of the financial services provider’s stock valued at $39,914,000 after purchasing an additional 202,264 shares in the last quarter. Accordant Advisory Group Inc raised its position in shares of Farmland Partners by 56.9% during the 3rd quarter. Accordant Advisory Group Inc now owns 812,976 shares of the financial services provider’s stock worth $8,496,000 after acquiring an additional 294,980 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Farmland Partners in the second quarter valued at approximately $1,853,000. Price T Rowe Associates Inc. MD increased its stake in Farmland Partners by 11.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,855 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 1,286 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Farmland Partners during the first quarter worth approximately $196,000. 58.00% of the stock is currently owned by hedge funds and other institutional investors.

Farmland Partners Price Performance

Shares of Farmland Partners stock opened at $12.17 on Thursday. The firm’s fifty day simple moving average is $10.93 and its 200-day simple moving average is $10.91. Farmland Partners Inc. has a 12 month low of $9.70 and a 12 month high of $13.12. The stock has a market capitalization of $586.23 million, a price-to-earnings ratio of 43.46 and a beta of 0.69.

Farmland Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.24 annualized dividend and a dividend yield of 1.97%. Farmland Partners’s dividend payout ratio (DPR) is 85.71%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Farmland Partners from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th.

Farmland Partners Company Profile

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 December 31, 2023, the Company owns and/or manages approximately 171,100 acres in 16 states, including Arkansas, California, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Nebraska, North Carolina, Oklahoma, South Carolina and Texas.