Morgan Stanley Acquires 429,317 Shares of Farmland Partners Inc. (FPI)

Morgan Stanley raised its stake in Farmland Partners Inc. (NYSE:FPI) by 843.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 480,239 shares of the financial services provider’s stock after buying an additional 429,317 shares during the period. Morgan Stanley owned approximately 2.80% of Farmland Partners worth $5,364,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in FPI. Vanguard Group Inc. boosted its stake in shares of Farmland Partners by 110.1% in the first quarter. Vanguard Group Inc. now owns 1,222,510 shares of the financial services provider’s stock valued at $13,655,000 after buying an additional 640,730 shares during the last quarter. Uniplan Investment Counsel Inc. boosted its stake in shares of Farmland Partners by 4.4% in the first quarter. Uniplan Investment Counsel Inc. now owns 642,216 shares of the financial services provider’s stock valued at $7,173,000 after buying an additional 26,892 shares during the last quarter. Shufro Rose & Co. LLC boosted its stake in shares of Farmland Partners by 150.3% in the first quarter. Shufro Rose & Co. LLC now owns 435,320 shares of the financial services provider’s stock valued at $4,863,000 after buying an additional 261,420 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Farmland Partners by 180.0% in the first quarter. Bank of New York Mellon Corp now owns 274,408 shares of the financial services provider’s stock valued at $3,065,000 after buying an additional 176,403 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Farmland Partners by 61.0% in the first quarter. Geode Capital Management LLC now owns 269,549 shares of the financial services provider’s stock valued at $3,010,000 after buying an additional 102,158 shares during the last quarter. 39.09% of the stock is owned by hedge funds and other institutional investors.

Farmland Partners Inc. (FPI) opened at 8.23 on Friday. The firm has a market cap of $267.82 million, a price-to-earnings ratio of 146.96 and a beta of 0.18. The firm’s 50-day moving average is $8.85 and its 200-day moving average is $10.09. Farmland Partners Inc. has a 52 week low of $8.21 and a 52 week high of $11.97.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, October 2nd will be given a dividend of $0.127 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.51 annualized dividend and a dividend yield of 6.17%. Farmland Partners’s dividend payout ratio is presently 425.04%.

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Several equities research analysts have recently weighed in on FPI shares. Robert W. Baird cut shares of Farmland Partners from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $10.00 to $9.00 in a research report on Tuesday. Zacks Investment Research cut shares of Farmland Partners from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 10th. Stifel Nicolaus reiterated a “buy” rating and set a $10.00 price objective (down previously from $11.75) on shares of Farmland Partners in a research note on Monday, June 19th. Finally, FBR & Co lowered shares of Farmland Partners from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $12.00 to $10.00 in a research note on Tuesday, July 18th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Farmland Partners currently has a consensus rating of “Hold” and a consensus price target of $10.70.

In related news, CEO Paul A. Pittman acquired 5,000 shares of Farmland Partners stock in a transaction dated Friday, June 16th. The stock was acquired at an average price of $8.99 per share, for a total transaction of $44,950.00. Following the transaction, the chief executive officer now owns 545,388 shares of the company’s stock, valued at $4,903,038.12. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Erica Borenstein acquired 3,000 shares of Farmland Partners stock in a transaction dated Thursday, August 17th. The shares were bought at an average price of $8.45 per share, with a total value of $25,350.00. Following the transaction, the general counsel now directly owns 19,404 shares in the company, valued at approximately $163,963.80. The disclosure for this purchase can be found here. Insiders have bought a total of 14,200 shares of company stock valued at $126,772 in the last 90 days. Insiders own 2.76% of the company’s stock.

Farmland Partners Company Profile

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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