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

Raymond James Financial Inc. acquired a new stake in shares of Farmland Partners Inc. (NYSE:FPI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 296,800 shares of the financial services provider's stock, valued at approximately $3,490,000. Raymond James Financial Inc. owned about 0.62% of Farmland Partners at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in FPI. Stifel Financial Corp raised its position in shares of Farmland Partners by 130.0% in the 3rd quarter. Stifel Financial Corp now owns 111,254 shares of the financial services provider's stock worth $1,163,000 after purchasing an additional 62,875 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Farmland Partners by 27.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 125,695 shares of the financial services provider's stock valued at $1,314,000 after purchasing an additional 27,373 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Farmland Partners by 67.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 56,439 shares of the financial services provider's stock worth $730,000 after buying an additional 22,774 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Farmland Partners by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 370,291 shares of the financial services provider's stock worth $3,870,000 after buying an additional 19,805 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Farmland Partners by 221.7% during the third quarter. Barclays PLC now owns 68,150 shares of the financial services provider's stock valued at $712,000 after buying an additional 46,968 shares during the last quarter. Hedge funds and other institutional investors own 58.00% of the company's stock.

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Analysts Set New Price Targets

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

Farmland Partners Stock Performance

Shares of NYSE:FPI traded down $0.02 during midday trading on Monday, reaching $11.16. 354,796 shares of the company's stock traded hands, compared to its average volume of 334,384. Farmland Partners Inc. has a one year low of $9.70 and a one year high of $12.87. The company has a market cap of $513.02 million, a price-to-earnings ratio of 11.16 and a beta of 0.66. The stock has a 50 day moving average of $11.47 and a 200 day moving average of $11.54.

Farmland Partners (NYSE:FPI - Get Free Report) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $0.19 earnings per share (EPS) 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 business had revenue of $21.47 million for the quarter, compared to analysts' expectations of $20.29 million. Sell-side analysts predict that Farmland Partners Inc. will post 0.13 EPS for the current fiscal year.

Farmland Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Tuesday, April 1st. Farmland Partners's dividend payout ratio (DPR) is presently 24.00%.

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.