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

JPMorgan Chase & Co. increased its stake in shares of Farmland Partners Inc. (NYSE:FPI) by 93.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 243,045 shares of the financial services provider’s stock after acquiring an additional 117,350 shares during the quarter. JPMorgan Chase & Co.’s holdings in Farmland Partners were worth $2,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of FPI. Steward Partners Investment Advisory LLC grew its holdings in shares of Farmland Partners by 470.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,944 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 2,428 shares during the last quarter. Promus Capital LLC bought a new stake in Farmland Partners in the 4th quarter worth $56,000. KLP Kapitalforvaltning AS purchased a new position in shares of Farmland Partners in the fourth quarter valued at about $104,000. Meriwether Wealth & Planning LLC purchased a new position in shares of Farmland Partners in the fourth quarter valued at about $119,000. Finally, Virtu Financial LLC bought a new position in shares of Farmland Partners during the third quarter valued at about $123,000. 58.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Farmland Partners from a “sell” rating to a “hold” rating in a report on Friday, February 28th.

Farmland Partners Stock Performance

FPI opened at $9.90 on Wednesday. The stock has a market capitalization of $455.07 million, a PE ratio of 9.90 and a beta of 0.78. The stock’s 50 day moving average price is $10.94 and its 200-day moving average price is $11.49. Farmland Partners Inc. has a 52-week low of $9.66 and a 52-week high of $12.87.

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

Farmland Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, April 1st. This represents a $0.24 annualized dividend and a yield of 2.43%. Farmland Partners’s payout ratio is 24.00%.

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.