NewEdge Wealth LLC Trims Stake in Farmland Partners Inc. (NYSE:FPI)

NewEdge Wealth LLC decreased its position in shares of Farmland Partners Inc. (NYSE:FPI) by 8.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 14,547 shares of the financial services provider’s stock after selling 1,316 shares during the period. NewEdge Wealth LLC’s holdings in Farmland Partners were worth $182,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Petra Financial Advisors Inc. grew its holdings in shares of Farmland Partners by 20.6% during the 4th quarter. Petra Financial Advisors Inc. now owns 46,274 shares of the financial services provider’s stock worth $578,000 after acquiring an additional 7,898 shares during the period. Capital Square LLC purchased a new stake in shares of Farmland Partners in the 4th quarter worth approximately $210,000. Fortem Financial Group LLC purchased a new stake in shares of Farmland Partners in the 4th quarter worth approximately $1,249,000. International Assets Investment Management LLC purchased a new stake in shares of Farmland Partners in the 4th quarter worth approximately $452,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Farmland Partners by 10.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 44,330 shares of the financial services provider’s stock worth $553,000 after buying an additional 4,077 shares during the last quarter. Hedge funds and other institutional investors own 58.00% of the company’s stock.

Analyst Ratings Changes

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

Farmland Partners Stock Performance

Shares of FPI stock opened at $10.58 on Friday. 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 $509.43 million, a PE ratio of 20.35 and a beta of 0.75. The stock has a fifty day simple moving average of $10.97 and a two-hundred day simple moving average of $11.36.

Farmland Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.06 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.24 dividend on an annualized basis and a yield of 2.27%. Farmland Partners’s payout ratio is presently 46.15%.

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 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.