JPMorgan Chase & Co. Purchases 117,350 Shares of Farmland Partners Inc. (NYSE:FPI)

JPMorgan Chase & Co. raised its position in Farmland Partners Inc. (NYSE:FPI) by 93.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 243,045 shares of the financial services provider’s stock after purchasing an additional 117,350 shares during the period. JPMorgan Chase & Co. owned 0.50% of Farmland Partners worth $2,858,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in FPI. Global Alpha Capital Management Ltd. boosted its stake in Farmland Partners by 9.2% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 3,387,769 shares of the financial services provider’s stock valued at $39,840,000 after buying an additional 284,000 shares during the period. State Street Corp raised its holdings in shares of Farmland Partners by 1.4% in the 3rd quarter. State Street Corp now owns 1,136,755 shares of the financial services provider’s stock valued at $11,879,000 after acquiring an additional 15,638 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Farmland Partners by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,136,338 shares of the financial services provider’s stock worth $11,877,000 after purchasing an additional 8,413 shares in the last quarter. Accordant Advisory Group Inc increased its position in shares of Farmland Partners by 9.9% in the fourth quarter. Accordant Advisory Group Inc now owns 893,712 shares of the financial services provider’s stock worth $10,510,000 after purchasing an additional 80,736 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Farmland Partners by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 373,855 shares of the financial services provider’s stock valued at $4,397,000 after purchasing an additional 3,564 shares in the last quarter. 58.00% of the stock is currently owned by hedge funds and other institutional investors.

Farmland Partners Stock Up 0.3 %

FPI opened at $9.90 on Wednesday. The business’s fifty day simple moving average is $10.94 and its 200 day simple moving average is $11.49. Farmland Partners Inc. has a 52 week low of $9.66 and a 52 week high of $12.87. The stock has a market cap of $455.07 million, a PE ratio of 9.90 and a beta of 0.78.

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

Farmland Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.43%. Farmland Partners’s payout ratio is 24.00%.

Wall Street Analysts Forecast Growth

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

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.