State of New Jersey Common Pension Fund D Purchases 11,667 Shares of Farmland Partners Inc. $FPI

State of New Jersey Common Pension Fund D boosted its position in shares of Farmland Partners Inc. (NYSE:FPI) by 7.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 174,231 shares of the financial services provider’s stock after buying an additional 11,667 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Farmland Partners were worth $2,005,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FPI. Wealth Enhancement Advisory Services LLC raised its stake in shares of Farmland Partners by 92.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 37,985 shares of the financial services provider’s stock worth $424,000 after acquiring an additional 18,207 shares during the last quarter. Global Alpha Capital Management Ltd. raised its stake in shares of Farmland Partners by 2.3% in the first quarter. Global Alpha Capital Management Ltd. now owns 3,465,969 shares of the financial services provider’s stock worth $38,646,000 after acquiring an additional 78,200 shares during the last quarter. Nuveen LLC bought a new position in shares of Farmland Partners in the first quarter worth about $1,158,000. Hsbc Holdings PLC bought a new position in shares of Farmland Partners in the first quarter worth about $179,000. Finally, State of Wyoming raised its stake in shares of Farmland Partners by 976.7% in the first quarter. State of Wyoming now owns 48,203 shares of the financial services provider’s stock worth $537,000 after acquiring an additional 43,726 shares during the last quarter. 58.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on FPI shares. Wall Street Zen downgraded shares of Farmland Partners from a “hold” rating to a “sell” rating in a research note on Saturday, September 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Farmland Partners in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Farmland Partners Stock Performance

Shares of NYSE:FPI opened at $10.33 on Friday. Farmland Partners Inc. has a 52 week low of $9.66 and a 52 week high of $12.87. The company has a market capitalization of $464.06 million, a PE ratio of 8.61 and a beta of 0.89. The company has a 50 day moving average price of $10.65 and a two-hundred day moving average price of $10.79.

Farmland Partners (NYSE:FPI) last issued its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Farmland Partners had a net margin of 130.10% and a return on equity of 14.15%. The company had revenue of $5.99 million during the quarter, compared to the consensus estimate of $10.59 million. Farmland Partners has set its FY 2025 guidance at 0.320-0.360 EPS. On average, sell-side analysts forecast that Farmland Partners Inc. will post 0.13 earnings per share for the current year.

Farmland Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Friday, January 2nd will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $0.24 dividend on an annualized basis and a yield of 2.3%. Farmland Partners’s dividend payout ratio (DPR) is 19.67%.

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.