Pier 88 Investment Partners LLC Buys 8,080 Shares of Farmland Partners Inc. (NYSE:FPI)

Pier 88 Investment Partners LLC grew its stake in shares of Farmland Partners Inc. (NYSE:FPI) by 14.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 64,530 shares of the financial services provider’s stock after acquiring an additional 8,080 shares during the quarter. Pier 88 Investment Partners LLC owned about 0.13% of Farmland Partners worth $759,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its position in Farmland Partners by 470.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,944 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 2,428 shares during the period. Promus Capital LLC acquired a new position in shares of Farmland Partners in the 4th quarter valued at approximately $56,000. KLP Kapitalforvaltning AS bought a new stake in shares of Farmland Partners during the 4th quarter worth approximately $104,000. Point72 Asset Management L.P. acquired a new stake in shares of Farmland Partners during the 3rd quarter worth approximately $111,000. Finally, Meriwether Wealth & Planning LLC bought a new position in Farmland Partners in the fourth quarter valued at approximately $119,000. 58.00% of the stock is owned by institutional investors and hedge funds.

Farmland Partners Stock Down 0.0 %

NYSE:FPI opened at $11.16 on Monday. Farmland Partners Inc. has a twelve month low of $9.70 and a twelve month high of $12.87. The stock’s 50-day simple moving average is $11.48 and its 200 day simple moving average is $11.53. The firm has a market capitalization of $513.02 million, a PE ratio of 11.16 and a beta of 0.66.

Farmland Partners (NYSE:FPI) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $21.47 million for the quarter, compared to analyst estimates of $20.29 million. Farmland Partners had a net margin of 102.89% and a return on equity of 11.47%. On average, analysts anticipate that Farmland Partners Inc. will post 0.13 EPS for the current fiscal year.

Farmland Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Tuesday, April 1st. Farmland Partners’s dividend payout ratio (DPR) is 24.00%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Farmland Partners from a “sell” rating to a “hold” rating in a research note on Friday, February 28th.

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.