Farmland Partners Inc. (NYSE:FPI) Shares Sold by Cherry Tree Wealth Management LLC

Cherry Tree Wealth Management LLC lessened its stake in Farmland Partners Inc. (NYSE:FPI) by 11.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,000 shares of the financial services provider’s stock after selling 4,000 shares during the quarter. Cherry Tree Wealth Management LLC owned about 0.06% of Farmland Partners worth $374,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FPI. Park Avenue Securities LLC acquired a new stake in shares of Farmland Partners in the third quarter valued at about $108,000. Diligent Investors LLC purchased a new stake in shares of Farmland Partners during the third quarter valued at approximately $110,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Farmland Partners by 77.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,826 shares of the financial services provider’s stock worth $135,000 after purchasing an additional 4,723 shares in the last quarter. Capital Square LLC purchased a new position in shares of Farmland Partners in the fourth quarter valued at $210,000. Finally, New York State Common Retirement Fund grew its holdings in Farmland Partners by 25.3% during the 3rd quarter. New York State Common Retirement Fund now owns 17,293 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 3,492 shares in the last quarter. Institutional investors and hedge funds own 58.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. StockNews.com upgraded shares of Farmland Partners from a “sell” rating to a “hold” rating in a report 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

Shares of NYSE:FPI traded down $0.23 during midday trading on Wednesday, reaching $10.95. The company had a trading volume of 301,113 shares, compared to its average volume of 338,216. The stock has a market capitalization of $527.30 million, a P/E ratio of 21.63 and a beta of 0.75. The stock’s fifty day moving average price is $10.88 and its 200-day moving average price is $11.42. Farmland Partners Inc. has a one year low of $9.95 and a one year high of $13.27.

Farmland Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.19%. Farmland Partners’s dividend payout ratio (DPR) is presently 47.06%.

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.