Raymond James Financial Inc. Buys Shares of 296,800 Farmland Partners Inc. (NYSE:FPI)

Raymond James Financial Inc. bought a new stake in Farmland Partners Inc. (NYSE:FPI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 296,800 shares of the financial services provider's stock, valued at approximately $3,490,000. Raymond James Financial Inc. owned 0.62% of Farmland Partners at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC increased its holdings in shares of Farmland Partners by 470.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,944 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 2,428 shares during the period. Promus Capital LLC acquired a new position in Farmland Partners during the 4th quarter valued at about $56,000. KLP Kapitalforvaltning AS acquired a new position in Farmland Partners during the 4th quarter valued at about $104,000. Meriwether Wealth & Planning LLC bought a new stake in shares of Farmland Partners during the 4th quarter worth about $119,000. Finally, Virtu Financial LLC acquired a new stake in shares of Farmland Partners in the 3rd quarter worth approximately $123,000. Institutional investors own 58.00% of the company's stock.

Farmland Partners Price Performance

Shares of FPI traded up $0.24 during midday trading on Friday, reaching $10.31. The stock had a trading volume of 71,407 shares, compared to its average volume of 344,094. The company has a market capitalization of $473.93 million, a P/E ratio of 10.31 and a beta of 0.78. The firm's 50 day moving average price is $10.67 and its 200-day moving average price is $11.45. Farmland Partners Inc. has a 52 week low of $9.66 and a 52 week high of $12.87.

Farmland Partners (NYSE:FPI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. Farmland Partners had a net margin of 102.89% and a return on equity of 11.47%. The company had revenue of $21.47 million during the quarter, compared to analyst estimates of $20.29 million. On average, equities analysts forecast that Farmland Partners Inc. will post 0.13 earnings per share for the current year.

Farmland Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Tuesday, April 1st. Farmland Partners's payout ratio is 24.00%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Farmland Partners from a "sell" rating to a "hold" rating in a research note on Friday, February 28th.

Farmland Partners 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.