JPMorgan Chase & Co. Buys 27,373 Shares of Farmland Partners Inc. (NYSE:FPI)

JPMorgan Chase & Co. boosted its position in Farmland Partners Inc. (NYSE:FPI - Free Report) by 27.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 125,695 shares of the financial services provider's stock after acquiring an additional 27,373 shares during the quarter. JPMorgan Chase & Co. owned 0.26% of Farmland Partners worth $1,314,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in shares of Farmland Partners during the 3rd quarter valued at approximately $105,000. Point72 Asset Management L.P. acquired a new stake in Farmland Partners in the third quarter valued at approximately $111,000. D.A. Davidson & CO. boosted its position in Farmland Partners by 11.3% in the third quarter. D.A. Davidson & CO. now owns 11,639 shares of the financial services provider's stock valued at $122,000 after buying an additional 1,182 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Farmland Partners during the third quarter worth $123,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Farmland Partners by 22.0% during the third quarter. BNP Paribas Financial Markets now owns 12,107 shares of the financial services provider's stock worth $127,000 after buying an additional 2,183 shares in the last quarter. 58.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John A. Good bought 15,000 shares of the company's stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average price of $12.23 per share, for a total transaction of $183,450.00. Following the completion of the acquisition, the director now directly owns 101,465 shares in the company, valued at approximately $1,240,916.95. This represents a 17.35 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 8.30% of the company's stock.

Farmland Partners Stock Performance

Shares of Farmland Partners stock traded up $0.09 on Friday, hitting $11.51. The stock had a trading volume of 170,228 shares, compared to its average volume of 248,298. The stock has a 50 day moving average of $12.03 and a 200 day moving average of $11.22. The firm has a market capitalization of $554.20 million, a P/E ratio of 41.09 and a beta of 0.70. Farmland Partners Inc. has a twelve month low of $9.70 and a twelve month high of $12.85.

Farmland Partners (NYSE:FPI - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $13.32 million during the quarter, compared to analysts' expectations of $11.88 million. Farmland Partners had a net margin of 31.68% and a return on equity of 3.53%. During the same period in the prior year, the company posted ($0.01) EPS. Equities analysts expect that Farmland Partners Inc. will post 0.19 earnings per share for the current year.

Farmland Partners Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Monday, December 23rd were given a $1.15 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Farmland Partners's previous dividend of $0.13. Farmland Partners's payout ratio is 85.71%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Farmland Partners from a "sell" rating to a "hold" rating in a research report on Saturday, November 9th.

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.