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

Pier 88 Investment Partners LLC lessened its position 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 period. Pier 88 Investment Partners LLC’s holdings in Farmland Partners were worth $590,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its stake in shares of Farmland Partners by 6.2% during 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 purchasing an additional 202,264 shares during the period. Accordant Advisory Group Inc lifted 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 valued at $8,496,000 after acquiring an additional 294,980 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Farmland Partners by 5.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 255,843 shares of the financial services provider’s stock valued at $2,950,000 after acquiring an additional 14,233 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of Farmland Partners by 10.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 194,088 shares of the financial services provider’s stock worth $2,028,000 after acquiring an additional 18,465 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Farmland Partners in the 2nd quarter worth approximately $1,853,000. Hedge funds and other institutional investors own 58.00% of the company’s stock.

Farmland Partners Stock Performance

Shares of FPI opened at $12.17 on Thursday. Farmland Partners Inc. has a 12-month low of $9.70 and a 12-month high of $13.12. The stock has a market cap of $586.23 million, a P/E ratio of 43.46 and a beta of 0.69. The company has a 50-day moving average of $10.93 and a two-hundred day moving average of $10.91.

Farmland Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given 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 is currently 85.71%.

Wall Street Analyst Weigh In

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

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.