State Street Corp Raises Stake in Farmland Partners Inc. (NYSE:FPI)

State Street Corp boosted its holdings in Farmland Partners Inc. (NYSE:FPI) by 1.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,136,755 shares of the financial services provider’s stock after purchasing an additional 15,638 shares during the quarter. State Street Corp owned about 2.36% of Farmland Partners worth $11,879,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its stake 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 worth $39,914,000 after buying an additional 202,264 shares during the last quarter. Stifel Financial Corp boosted its holdings in Farmland Partners by 130.0% in the third quarter. Stifel Financial Corp now owns 111,254 shares of the financial services provider’s stock worth $1,163,000 after acquiring an additional 62,875 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Farmland Partners by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 370,291 shares of the financial services provider’s stock worth $3,870,000 after acquiring an additional 19,805 shares during the last quarter. Accordant Advisory Group Inc raised its position in shares of Farmland Partners by 56.9% in the 3rd quarter. Accordant Advisory Group Inc now owns 812,976 shares of the financial services provider’s stock worth $8,496,000 after purchasing an additional 294,980 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Farmland Partners in the 2nd quarter worth about $1,853,000. Institutional investors own 58.00% of the company’s stock.

Analysts Set New Price Targets

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 Trading Up 2.8 %

FPI stock opened at $11.55 on Thursday. The stock’s 50 day simple moving average is $12.01 and its 200 day simple moving average is $11.17. Farmland Partners Inc. has a 12-month low of $9.70 and a 12-month high of $13.04. The stock has a market capitalization of $556.40 million, a PE ratio of 41.25 and a beta of 0.70.

Farmland Partners Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Monday, December 23rd will be issued a dividend of $1.15 per share. This is an increase from Farmland Partners’s previous dividend of $0.13. The ex-dividend date is Monday, December 23rd. Farmland Partners’s dividend payout ratio is presently 85.71%.

Insider Activity

In related news, Director John A. Good acquired 15,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average price of $12.23 per share, for a total transaction of $183,450.00. Following the completion of the transaction, the director now directly owns 101,465 shares in the company, valued at approximately $1,240,916.95. This trade represents a 17.35 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.30% of the company’s stock.

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.