Meriwether Wealth & Planning LLC Takes Position in Farmland Partners Inc. (NYSE:FPI)

Meriwether Wealth & Planning LLC acquired a new stake in Farmland Partners Inc. (NYSE:FPI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,130 shares of the financial services provider’s stock, valued at approximately $119,000.

Several other institutional investors have also modified their holdings of FPI. State of New Jersey Common Pension Fund D lifted its holdings in shares of Farmland Partners by 10.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 194,088 shares of the financial services provider’s stock valued at $2,028,000 after buying an additional 18,465 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Farmland Partners during the third quarter worth $105,000. Aigen Investment Management LP acquired a new stake in shares of Farmland Partners during the third quarter worth $173,000. MQS Management LLC raised its position in shares of Farmland Partners by 61.7% during the third quarter. MQS Management LLC now owns 18,765 shares of the financial services provider’s stock worth $196,000 after purchasing an additional 7,160 shares during the period. Finally, BCGM Wealth Management LLC raised its position in shares of Farmland Partners by 0.6% during the third quarter. BCGM Wealth Management LLC now owns 261,341 shares of the financial services provider’s stock worth $2,731,000 after purchasing an additional 1,510 shares during the period. Institutional investors and hedge funds own 58.00% of the company’s stock.

Farmland Partners Stock Up 0.5 %

Shares of Farmland Partners stock opened at $11.16 on Monday. The stock’s fifty day moving average is $11.69 and its 200-day moving average is $11.44. The firm has a market capitalization of $511.95 million, a PE ratio of 11.16 and a beta of 0.66. Farmland Partners Inc. has a 12-month low of $9.70 and a 12-month high of $12.87.

Farmland Partners (NYSE:FPI) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $21.47 million for the quarter, compared to analyst estimates of $20.29 million. Farmland Partners had a return on equity of 11.47% and a net margin of 102.89%. Analysts expect that Farmland Partners Inc. will post 0.13 EPS for the current year.

Farmland Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Tuesday, April 1st. Farmland Partners’s payout ratio is 24.00%.

Insider Activity at Farmland Partners

In other Farmland Partners news, Director John A. Good purchased 15,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average cost of $12.23 per share, with a total value of $183,450.00. Following the completion of the transaction, the director now owns 101,465 shares of the company’s stock, valued at approximately $1,240,916.95. This represents a 17.35 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.30% of the stock is owned by insiders.

Analyst Ratings Changes

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

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.