State of New Jersey Common Pension Fund D Buys 18,465 Shares of Farmland Partners Inc. (NYSE:FPI)

State of New Jersey Common Pension Fund D raised its stake in shares of Farmland Partners Inc. (NYSE:FPI) by 10.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 194,088 shares of the financial services provider’s stock after buying an additional 18,465 shares during the period. State of New Jersey Common Pension Fund D owned about 0.40% of Farmland Partners worth $2,028,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ballentine Partners LLC bought a new position in Farmland Partners in the third quarter valued at about $197,000. Taylor Frigon Capital Management LLC lifted its stake in shares of Farmland Partners by 5.3% in the 3rd quarter. Taylor Frigon Capital Management LLC now owns 121,754 shares of the financial services provider’s stock worth $1,272,000 after purchasing an additional 6,138 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Farmland Partners in the third quarter worth approximately $1,700,000. Accordant Advisory Group Inc boosted its holdings in shares of Farmland Partners by 56.9% in the third quarter. Accordant Advisory Group Inc now owns 812,976 shares of the financial services provider’s stock worth $8,496,000 after buying an additional 294,980 shares during the last quarter. Finally, Annex Advisory Services LLC grew its position in Farmland Partners by 36.7% during the third quarter. Annex Advisory Services LLC now owns 71,509 shares of the financial services provider’s stock valued at $747,000 after buying an additional 19,204 shares during the period. 58.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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 Stock Up 0.8 %

FPI stock opened at $12.18 on Friday. The business’s 50-day moving average price is $11.01 and its 200-day moving average price is $10.93. The stock has a market cap of $586.75 million, a P/E ratio of 43.50 and a beta of 0.69. Farmland Partners Inc. has a twelve month low of $9.70 and a twelve month high of $13.12.

Farmland Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.97%. Farmland Partners’s payout ratio is currently 85.71%.

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.