Pier 88 Investment Partners LLC Has $759,000 Holdings in Farmland Partners Inc. (NYSE:FPI)

Pier 88 Investment Partners LLC raised its stake in shares of Farmland Partners Inc. (NYSE:FPI) by 14.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,530 shares of the financial services provider’s stock after purchasing an additional 8,080 shares during the period. Pier 88 Investment Partners LLC’s holdings in Farmland Partners were worth $759,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Farmland Partners during the fourth quarter worth about $3,490,000. Global Alpha Capital Management Ltd. raised its holdings in Farmland Partners by 9.2% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 3,387,769 shares of the financial services provider’s stock worth $39,840,000 after purchasing an additional 284,000 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Farmland Partners by 93.4% in the 4th quarter. JPMorgan Chase & Co. now owns 243,045 shares of the financial services provider’s stock worth $2,858,000 after purchasing an additional 117,350 shares during the period. Accordant Advisory Group Inc boosted its stake in shares of Farmland Partners by 9.9% in the 4th quarter. Accordant Advisory Group Inc now owns 893,712 shares of the financial services provider’s stock valued at $10,510,000 after purchasing an additional 80,736 shares during the last quarter. Finally, Stifel Financial Corp increased its position in shares of Farmland Partners by 130.0% during the third quarter. Stifel Financial Corp now owns 111,254 shares of the financial services provider’s stock worth $1,163,000 after buying an additional 62,875 shares during the period. 58.00% of the stock is owned by institutional investors and hedge funds.

Farmland Partners Price Performance

NYSE FPI opened at $11.16 on Monday. The stock has a market capitalization of $513.02 million, a P/E ratio of 11.16 and a beta of 0.66. The business has a 50 day simple moving average of $11.48 and a 200 day simple moving average of $11.53. Farmland Partners Inc. has a one year low of $9.70 and a one year high of $12.87.

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

Farmland Partners Announces Dividend

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

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Farmland Partners from a “sell” rating to a “hold” rating in a research report 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.