State of Alaska Department of Revenue Sells 1,764 Shares of Farmland Partners Inc. (NYSE:FPI)

State of Alaska Department of Revenue cut its holdings in Farmland Partners Inc. (NYSE:FPI) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,999 shares of the financial services provider’s stock after selling 1,764 shares during the quarter. State of Alaska Department of Revenue’s holdings in Farmland Partners were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of FPI. BlackRock Inc. grew its stake in shares of Farmland Partners by 17.7% in the third quarter. BlackRock Inc. now owns 3,482,387 shares of the financial services provider’s stock worth $44,121,000 after purchasing an additional 522,563 shares during the last quarter. Millennium Management LLC boosted its position in Farmland Partners by 63.8% during the 2nd quarter. Millennium Management LLC now owns 1,008,189 shares of the financial services provider’s stock valued at $13,913,000 after acquiring an additional 392,727 shares in the last quarter. Vanguard Group Inc. boosted its position in Farmland Partners by 16.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,343,449 shares of the financial services provider’s stock valued at $29,692,000 after acquiring an additional 336,375 shares in the last quarter. Morgan Stanley boosted its position in Farmland Partners by 51.2% during the 4th quarter. Morgan Stanley now owns 795,311 shares of the financial services provider’s stock valued at $9,910,000 after acquiring an additional 269,316 shares in the last quarter. Finally, State Street Corp boosted its position in Farmland Partners by 48.3% during the 2nd quarter. State Street Corp now owns 824,469 shares of the financial services provider’s stock valued at $11,425,000 after acquiring an additional 268,477 shares in the last quarter. 58.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Roth Capital reaffirmed a “buy” rating on shares of Farmland Partners in a research report on Thursday, February 8th. StockNews.com raised Farmland Partners from a “sell” rating to a “hold” rating in a research report on Friday, March 8th. Finally, Raymond James lifted their target price on shares of Farmland Partners from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday, December 26th.

Farmland Partners Stock Performance

FPI stock opened at $10.50 on Friday. The firm has a 50 day moving average price of $11.00 and a 200-day moving average price of $11.36. Farmland Partners Inc. has a 52-week low of $9.95 and a 52-week high of $13.27. The firm has a market capitalization of $505.58 million, a price-to-earnings ratio of 20.19 and a beta of 0.75.

Farmland Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.24 annualized dividend and a dividend yield of 2.29%. Farmland Partners’s payout ratio is 46.15%.

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.