LPL Financial LLC lifted its position in Farmland Partners Inc. (NYSE:FPI – Free Report) by 293.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 302,360 shares of the financial services provider’s stock after buying an additional 225,555 shares during the quarter. LPL Financial LLC’s holdings in Farmland Partners were worth $3,692,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Petra Financial Advisors Inc. grew its stake in shares of Farmland Partners by 111.8% in the 2nd quarter. Petra Financial Advisors Inc. now owns 38,376 shares of the financial services provider’s stock valued at $469,000 after buying an additional 20,259 shares in the last quarter. Fortress Wealth Management Inc. acquired a new stake in Farmland Partners in the 2nd quarter worth approximately $1,526,000. TAP Consulting LLC lifted its holdings in Farmland Partners by 22.4% in the 2nd quarter. TAP Consulting LLC now owns 140,961 shares of the financial services provider’s stock worth $1,721,000 after purchasing an additional 25,815 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Farmland Partners by 2.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 31,289 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 861 shares during the last quarter. Finally, Prelude Capital Management LLC acquired a new stake in Farmland Partners in the 1st quarter worth approximately $164,000. Institutional investors own 53.52% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on FPI shares. Raymond James boosted their target price on Farmland Partners from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, August 10th. StockNews.com started coverage on Farmland Partners in a report on Thursday, October 5th. They issued a “hold” rating for the company.
Farmland Partners Stock Up 0.3 %
Shares of FPI stock opened at $11.22 on Tuesday. Farmland Partners Inc. has a 12 month low of $9.44 and a 12 month high of $14.26. The firm has a market cap of $540.65 million, a PE ratio of 35.06 and a beta of 0.89. The stock has a 50 day moving average of $10.58 and a 200-day moving average of $11.21.
Farmland Partners Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.14%. Farmland Partners’s dividend payout ratio (DPR) is presently 75.00%.
Insider Transactions at Farmland Partners
In other Farmland Partners news, Chairman Paul A. Pittman purchased 66,178 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was bought at an average cost of $10.25 per share, for a total transaction of $678,324.50. Following the completion of the acquisition, the chairman now directly owns 1,264,683 shares in the company, valued at $12,963,000.75. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Paul A. Pittman acquired 66,178 shares of the stock in a transaction dated Wednesday, September 27th. The shares were acquired at an average cost of $10.25 per share, for a total transaction of $678,324.50. Following the completion of the transaction, the chairman now owns 1,264,683 shares in the company, valued at approximately $12,963,000.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Paul A. Pittman acquired 31,048 shares of the stock in a transaction dated Friday, September 29th. The shares were purchased at an average price of $10.29 per share, for a total transaction of $319,483.92. Following the completion of the transaction, the chairman now owns 1,298,505 shares of the company’s stock, valued at approximately $13,361,616.45. The disclosure for this purchase can be found here. Corporate insiders own 8.30% of the company’s stock.
Farmland Partners 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 June 30, 2023, the Company owns and/or manages approximately 190,200 acres in 20 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, North Carolina, Oklahoma, South Carolina, Texas, and Virginia.
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