175,623 Shares in Farmland Partners Inc. (NYSE:FPI) Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D purchased a new position in Farmland Partners Inc. (NYSE:FPI) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 175,623 shares of the financial services provider’s stock, valued at approximately $2,025,000. State of New Jersey Common Pension Fund D owned approximately 0.36% of Farmland Partners as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in shares of Farmland Partners in the 1st quarter worth $35,000. EntryPoint Capital LLC raised its holdings in Farmland Partners by 68.9% during the first quarter. EntryPoint Capital LLC now owns 4,801 shares of the financial services provider’s stock worth $53,000 after buying an additional 1,959 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Farmland Partners in the second quarter valued at $101,000. Park Avenue Securities LLC acquired a new position in shares of Farmland Partners during the first quarter valued at about $117,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Farmland Partners by 11.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,855 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 1,286 shares in the last quarter. Institutional investors and hedge funds own 58.00% of the company’s stock.

Insider Activity

In other Farmland Partners news, Director John A. Good purchased 24,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $10.15 per share, for a total transaction of $243,600.00. Following the completion of the acquisition, the director now owns 86,465 shares of the company’s stock, valued at approximately $877,619.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.30% of the stock is currently owned by corporate insiders.

Farmland Partners Trading Down 0.7 %

Shares of NYSE:FPI opened at $10.49 on Friday. The stock has a market cap of $505.27 million, a PE ratio of 20.57 and a beta of 0.71. The stock’s fifty day simple moving average is $10.45 and its two-hundred day simple moving average is $10.83. Farmland Partners Inc. has a 1-year low of $9.70 and a 1-year high of $13.12.

Farmland Partners (NYSE:FPI) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). Farmland Partners had a net margin of 36.89% and a return on equity of 3.97%. The firm had revenue of $11.45 million for the quarter, compared to the consensus estimate of $11.84 million. During the same period in the previous year, the business earned ($0.02) earnings per share. On average, sell-side analysts forecast that Farmland Partners Inc. will post 0.18 earnings per share for the current fiscal year.

Farmland Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.06 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.29%. Farmland Partners’s payout ratio is presently 47.06%.

Analyst Ratings Changes

Separately, StockNews.com downgraded Farmland Partners from a “hold” rating to a “sell” rating in a research note on Thursday, July 25th.

About Farmland Partners

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.