Farmland Partners Inc. (NYSE:FPI) Shares Acquired by Northern Trust Corp

Northern Trust Corp increased its stake in Farmland Partners Inc. (NYSE:FPI - Free Report) by 8.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 455,094 shares of the financial services provider's stock after purchasing an additional 35,993 shares during the period. Northern Trust Corp owned 0.94% of Farmland Partners worth $5,352,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FPI. BCGM Wealth Management LLC increased its position in Farmland Partners by 0.4% in the 4th quarter. BCGM Wealth Management LLC now owns 262,358 shares of the financial services provider's stock valued at $3,085,000 after acquiring an additional 1,017 shares during the period. Gamco Investors INC. ET AL increased its position in Farmland Partners by 3.0% in the 4th quarter. Gamco Investors INC. ET AL now owns 41,390 shares of the financial services provider's stock valued at $487,000 after acquiring an additional 1,200 shares during the period. Janney Montgomery Scott LLC increased its position in Farmland Partners by 1.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 96,816 shares of the financial services provider's stock valued at $1,139,000 after acquiring an additional 1,356 shares during the period. Park Avenue Securities LLC increased its position in Farmland Partners by 12.0% in the 4th quarter. Park Avenue Securities LLC now owns 14,830 shares of the financial services provider's stock valued at $174,000 after acquiring an additional 1,589 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in Farmland Partners by 3.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 64,605 shares of the financial services provider's stock valued at $747,000 after acquiring an additional 2,121 shares during the period. Institutional investors own 58.00% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Farmland Partners from a "sell" rating to a "hold" rating in a research report on Friday, February 28th.

Farmland Partners Stock Performance

Shares of FPI stock traded down $0.05 during mid-day trading on Friday, hitting $10.76. 358,562 shares of the stock traded hands, compared to its average volume of 352,176. Farmland Partners Inc. has a twelve month low of $9.66 and a twelve month high of $12.87. The firm has a market cap of $494.71 million, a price-to-earnings ratio of 10.76 and a beta of 0.82. The company's 50-day simple moving average is $10.39 and its 200-day simple moving average is $11.35.

Farmland Partners (NYSE:FPI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Farmland Partners had a net margin of 102.89% and a return on equity of 11.47%. The firm had revenue of $6.97 million for the quarter, compared to analyst estimates of $9.49 million. Analysts forecast that Farmland Partners Inc. will post 0.13 earnings per share for the current year.

Farmland Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Tuesday, July 1st. Farmland Partners's dividend payout ratio (DPR) is presently 23.53%.

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.