State Street Corp Has $4.86 Million Position in Farmland Partners Inc (NYSE:FPI)

State Street Corp raised its position in Farmland Partners Inc (NYSE:FPI) by 16.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 543,030 shares of the financial services provider’s stock after buying an additional 76,673 shares during the period. State Street Corp owned about 1.67% of Farmland Partners worth $4,856,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Stelac Advisory Services LLC grew its stake in shares of Farmland Partners by 3.2% during the second quarter. Stelac Advisory Services LLC now owns 18,005 shares of the financial services provider’s stock worth $161,000 after purchasing an additional 564 shares in the last quarter. Bard Associates Inc. raised its stake in Farmland Partners by 0.6% during the 2nd quarter. Bard Associates Inc. now owns 116,125 shares of the financial services provider’s stock valued at $1,038,000 after purchasing an additional 700 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in Farmland Partners by 12.4% during the 2nd quarter. Pinnacle Associates Ltd. now owns 13,600 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 1,500 shares during the last quarter. Royal Bank of Canada raised its stake in Farmland Partners by 31.9% during the 2nd quarter. Royal Bank of Canada now owns 17,014 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 4,119 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in Farmland Partners by 37.7% during the 2nd quarter. Alliancebernstein L.P. now owns 16,800 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 4,600 shares during the last quarter. Institutional investors own 41.01% of the company’s stock.

FPI has been the subject of several research reports. Zacks Investment Research raised shares of Farmland Partners from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Tuesday, September 19th. Raymond James Financial reissued a “hold” rating on shares of Farmland Partners in a research note on Monday, December 4th. B. Riley reissued a “hold” rating and issued a $10.00 target price on shares of Farmland Partners in a research note on Monday, November 13th. BidaskClub raised shares of Farmland Partners from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 24th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $9.25 target price (down from $10.00) on shares of Farmland Partners in a research note on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.65.

Farmland Partners Inc (FPI) traded up $0.06 during trading hours on Friday, hitting $9.13. 359,200 shares of the company traded hands, compared to its average volume of 256,434. Farmland Partners Inc has a twelve month low of $8.06 and a twelve month high of $11.76. The company has a market capitalization of $293.30, a PE ratio of 16.20 and a beta of 0.21.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be issued a dividend of $0.127 per share. This represents a $0.51 annualized dividend and a yield of 5.56%. The ex-dividend date is Friday, December 29th. Farmland Partners’s dividend payout ratio is 268.44%.

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About Farmland Partners

Farmland Partners, Inc is an internally managed real estate company. The Company owns and seeks to acquire farmland located in agricultural markets throughout North America. The Company is the sole member of the general partner of Farmland Partners Operating Partnership, LP (the Operating Partnership).

Institutional Ownership by Quarter for Farmland Partners (NYSE:FPI)

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