Raymond James Financial Inc. Acquires New Position in Farmland Partners Inc. (NYSE:FPI)

Raymond James Financial Inc. bought a new position in shares of Farmland Partners Inc. (NYSE:FPI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 296,800 shares of the financial services provider’s stock, valued at approximately $3,490,000.

Other institutional investors also recently bought and sold shares of the company. Promus Capital LLC acquired a new stake in shares of Farmland Partners during the 4th quarter worth approximately $56,000. Cornerstone Investment Partners LLC purchased a new position in Farmland Partners in the fourth quarter worth approximately $191,000. Charles Schwab Investment Management Inc. increased its stake in Farmland Partners by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 373,855 shares of the financial services provider’s stock worth $4,397,000 after acquiring an additional 3,564 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in Farmland Partners by 470.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,944 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 2,428 shares during the period. Finally, Sage Investment Counsel LLC acquired a new position in shares of Farmland Partners in the 4th quarter valued at $188,000. 58.00% of the stock is owned by hedge funds and other institutional investors.

Farmland Partners Price Performance

Shares of FPI stock opened at $11.15 on Friday. The company has a 50-day moving average of $11.49 and a two-hundred day moving average of $11.51. The firm has a market cap of $512.97 million, a PE ratio of 11.15 and a beta of 0.66. Farmland Partners Inc. has a 1-year low of $9.70 and a 1-year high of $12.87.

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

Farmland Partners Announces Dividend

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

Analysts Set New Price Targets

Separately, StockNews.com raised Farmland Partners from a “sell” rating to a “hold” rating in a research report on Friday, February 28th.

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.