State of New Jersey Common Pension Fund D Reduces Stock Position in Farmland Partners Inc. (NYSE:FPI)

State of New Jersey Common Pension Fund D lessened its holdings in Farmland Partners Inc. (NYSE:FPI) by 13.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 168,337 shares of the financial services provider’s stock after selling 25,751 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Farmland Partners were worth $1,980,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of FPI. International Assets Investment Management LLC acquired a new position in Farmland Partners in the third quarter valued at $1,700,000. Ballentine Partners LLC acquired a new stake in shares of Farmland Partners during the third quarter worth about $197,000. GSA Capital Partners LLP acquired a new stake in Farmland Partners in the third quarter valued at about $105,000. Aigen Investment Management LP acquired a new stake in Farmland Partners in the third quarter valued at about $173,000. Finally, MQS Management LLC lifted its position in Farmland Partners by 61.7% in the third quarter. MQS Management LLC now owns 18,765 shares of the financial services provider’s stock valued at $196,000 after purchasing an additional 7,160 shares during the period. Institutional investors and hedge funds own 58.00% of the company’s stock.

Farmland Partners Price Performance

Shares of FPI opened at $12.41 on Monday. The stock has a market cap of $597.59 million, a price-to-earnings ratio of 12.41 and a beta of 0.69. Farmland Partners Inc. has a 1-year low of $9.70 and a 1-year high of $12.87. The firm has a 50 day simple moving average of $11.77 and a 200-day simple moving average of $11.34.

Farmland Partners (NYSE:FPI) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $21.47 million during the quarter, compared to analysts’ expectations of $20.29 million. Farmland Partners had a net margin of 102.89% and a return on equity of 11.47%. On average, equities analysts expect that Farmland Partners Inc. will post 0.13 earnings per share for the current fiscal year.

Farmland Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.93%. Farmland Partners’s dividend payout ratio (DPR) is presently 24.00%.

Insider Buying and Selling at Farmland Partners

In related news, Director John A. Good bought 15,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was bought at an average price of $12.23 per share, with a total value of $183,450.00. Following the transaction, the director now owns 101,465 shares of the company’s stock, valued at approximately $1,240,916.95. This trade represents a 17.35 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 8.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Farmland Partners from a “hold” rating to a “sell” rating in a report on Thursday.

About Farmland Partners

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.