Belpointe Asset Management LLC Takes Position in Farmland Partners Inc. (NYSE:FPI)

Belpointe Asset Management LLC acquired a new stake in Farmland Partners Inc. (NYSE:FPI – Get Rating) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,216 shares of the financial services provider’s stock, valued at approximately $40,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pier 88 Investment Partners LLC grew its holdings in Farmland Partners by 45.9% during the 4th quarter. Pier 88 Investment Partners LLC now owns 91,898 shares of the financial services provider’s stock worth $1,145,000 after acquiring an additional 28,900 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Farmland Partners by 20.7% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 29,806 shares of the financial services provider’s stock valued at $371,000 after purchasing an additional 5,117 shares during the last quarter. Van ECK Associates Corp raised its position in Farmland Partners by 125.9% during the 4th quarter. Van ECK Associates Corp now owns 3,562 shares of the financial services provider’s stock worth $44,000 after buying an additional 1,985 shares during the last quarter. Swiss National Bank raised its position in Farmland Partners by 10.5% during the 4th quarter. Swiss National Bank now owns 124,600 shares of the financial services provider’s stock worth $1,553,000 after buying an additional 11,800 shares during the last quarter. Finally, Heartland Advisors Inc. raised its position in Farmland Partners by 24.5% during the 4th quarter. Heartland Advisors Inc. now owns 509,743 shares of the financial services provider’s stock worth $6,351,000 after buying an additional 100,376 shares during the last quarter. Institutional investors and hedge funds own 46.51% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. StockNews.com assumed coverage on shares of Farmland Partners in a research note on Thursday, May 18th. They issued a “sell” rating for the company. Raymond James lowered their price target on shares of Farmland Partners from $17.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, February 28th.

Insider Transactions at Farmland Partners

In related news, Director Murray R. Wise purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The shares were purchased at an average cost of $10.42 per share, with a total value of $104,200.00. Following the completion of the acquisition, the director now directly owns 169,846 shares of the company’s stock, valued at approximately $1,769,795.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Murray R. Wise purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The shares were purchased at an average cost of $10.42 per share, with a total value of $104,200.00. Following the completion of the acquisition, the director now directly owns 169,846 shares of the company’s stock, valued at approximately $1,769,795.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Murray R. Wise bought 20,000 shares of the stock in a transaction on Friday, March 10th. The shares were acquired at an average price of $9.93 per share, with a total value of $198,600.00. Following the purchase, the director now owns 189,846 shares of the company’s stock, valued at $1,885,170.78. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 41,000 shares of company stock valued at $409,660. Corporate insiders own 8.30% of the company’s stock.

Farmland Partners Stock Down 0.5 %

Shares of FPI stock opened at $11.09 on Friday. The stock has a market cap of $575.68 million, a price-to-earnings ratio of 61.61 and a beta of 0.82. Farmland Partners Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $15.77. The firm’s 50 day moving average price is $10.58 and its two-hundred day moving average price is $11.84.

Farmland Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Monday, July 3rd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, June 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.16%. Farmland Partners’s payout ratio is currently 133.33%.

About Farmland Partners

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Farmland Partners, Inc operates as a real estate investment trust. the firm engages in the management and acquisition of farmland and land with agricultural development potential. Its property portfolio focuses on the primary crops, such as corn, soybeans, wheat, rice and cotton and the remaining land is used to grow specialty crops, such as almond, citrus, blueberries, vegetables and edible beans.