Arizona State Retirement System Cuts Holdings in Farmland Partners Inc. (NYSE:FPI)

Arizona State Retirement System trimmed its position in shares of Farmland Partners Inc. (NYSE:FPI) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,970 shares of the financial services provider’s stock after selling 1,071 shares during the period. Arizona State Retirement System’s holdings in Farmland Partners were worth $162,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Farmland Partners by 2.8% during the third quarter. Vanguard Group Inc. now owns 2,468,003 shares of the financial services provider’s stock valued at $25,322,000 after buying an additional 68,105 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Farmland Partners by 3.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,336,001 shares of the financial services provider’s stock valued at $23,967,000 after purchasing an additional 76,688 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Farmland Partners by 0.7% during the third quarter. Deutsche Bank AG now owns 624,220 shares of the financial services provider’s stock valued at $6,404,000 after purchasing an additional 4,044 shares in the last quarter. BCGM Wealth Management LLC grew its stake in Farmland Partners by 8.2% in the third quarter. BCGM Wealth Management LLC now owns 239,105 shares of the financial services provider’s stock worth $2,453,000 after purchasing an additional 18,054 shares during the period. Finally, Taylor Frigon Capital Management LLC raised its holdings in Farmland Partners by 1.9% in the third quarter. Taylor Frigon Capital Management LLC now owns 114,639 shares of the financial services provider’s stock worth $1,176,000 after purchasing an additional 2,086 shares in the last quarter. 58.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FPI has been the subject of several research reports. Raymond James increased their price target on shares of 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 reissued a “buy” rating on shares of Farmland Partners in a research report on Thursday, February 8th. Finally, StockNews.com raised Farmland Partners from a “sell” rating to a “hold” rating in a research report on Friday, March 8th.

Farmland Partners Price Performance

Shares of Farmland Partners stock opened at $10.81 on Tuesday. Farmland Partners Inc. has a 1 year low of $9.95 and a 1 year high of $13.27. The firm’s 50-day moving average is $10.93 and its 200 day moving average is $11.38. The stock has a market cap of $520.26 million, a price-to-earnings ratio of 20.78 and a beta of 0.75.

Farmland Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.06 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.24 annualized dividend and a dividend yield of 2.22%. Farmland Partners’s dividend payout ratio is presently 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.