Sumitomo Mitsui Trust Holdings Inc. Raises Stock Position in Farmland Partners Inc. (NYSE:FPI)

Sumitomo Mitsui Trust Holdings Inc. lifted its position in Farmland Partners Inc. (NYSE:FPI) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,010 shares of the financial services provider’s stock after buying an additional 5,149 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.11% of Farmland Partners worth $674,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Petra Financial Advisors Inc. grew its position in shares of Farmland Partners by 20.6% in the 4th quarter. Petra Financial Advisors Inc. now owns 46,274 shares of the financial services provider’s stock worth $578,000 after buying an additional 7,898 shares during the last quarter. Capital Square LLC acquired a new stake in Farmland Partners in the 4th quarter worth approximately $210,000. International Assets Investment Management LLC acquired a new stake in Farmland Partners in the 4th quarter worth approximately $452,000. Nisa Investment Advisors LLC boosted its stake in Farmland Partners by 10.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 44,330 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 4,077 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Farmland Partners by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,468,003 shares of the financial services provider’s stock worth $25,322,000 after purchasing an additional 68,105 shares in the last quarter. Hedge funds and other institutional investors own 58.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. StockNews.com upgraded shares of Farmland Partners from a “sell” rating to a “hold” rating in a research note on Friday, March 8th. Roth Capital reiterated a “buy” rating on shares of Farmland Partners in a research note on Thursday, February 8th.

Farmland Partners Price Performance

FPI stock opened at $10.75 on Friday. The firm’s fifty day simple moving average is $10.91 and its 200-day simple moving average is $11.38. The company has a market capitalization of $517.61 million, a P/E ratio of 20.67 and a beta of 0.75. Farmland Partners Inc. has a 12 month low of $9.95 and a 12 month high of $13.27.

Farmland Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Thursday, March 28th. Farmland Partners’s dividend payout ratio (DPR) is currently 46.15%.

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.