Vanguard Group Inc. Buys 68,105 Shares of Farmland Partners Inc. (NYSE:FPI)

Vanguard Group Inc. raised its stake in shares of Farmland Partners Inc. (NYSE:FPI) by 2.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,468,003 shares of the financial services provider’s stock after purchasing an additional 68,105 shares during the period. Vanguard Group Inc. owned 0.05% of Farmland Partners worth $25,322,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Deutsche Bank AG boosted its stake in shares of Farmland Partners by 0.7% in the third quarter. Deutsche Bank AG now owns 624,220 shares of the financial services provider’s stock worth $6,404,000 after acquiring an additional 4,044 shares during the period. Comerica Bank bought a new position in shares of Farmland Partners in the third quarter worth about $39,000. Toroso Investments LLC boosted its stake in shares of Farmland Partners by 6.3% in the third quarter. Toroso Investments LLC now owns 20,275 shares of the financial services provider’s stock worth $208,000 after acquiring an additional 1,207 shares during the period. GSA Capital Partners LLP bought a new position in shares of Farmland Partners in the third quarter worth about $517,000. Finally, Royal Bank of Canada boosted its stake in shares of Farmland Partners by 10.2% in the third quarter. Royal Bank of Canada now owns 64,335 shares of the financial services provider’s stock worth $661,000 after acquiring an additional 5,965 shares during the period. Institutional investors own 58.00% of the company’s stock.

Farmland Partners Trading Up 0.2 %

NYSE:FPI opened at $10.49 on Friday. The company has a market capitalization of $505.09 million, a P/E ratio of 20.17 and a beta of 0.75. Farmland Partners Inc. has a 12 month low of $9.95 and a 12 month high of $13.27. The business’s 50-day moving average is $11.00 and its 200 day moving average is $11.35.

Farmland Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be given a $0.06 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.29%. Farmland Partners’s dividend payout ratio is currently 46.15%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FPI shares. Raymond James upped their price objective on Farmland Partners from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 26th. Roth Capital reaffirmed a “buy” rating on shares of Farmland Partners in a research note on Thursday, February 8th. Finally, StockNews.com upgraded Farmland Partners from a “sell” rating to a “hold” rating in a research report on Friday, March 8th.

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.