Farmland Partners (NYSE:FPI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Farmland Partners Inc. operates as a real estate company. It owns and seeks to acquire primary row crop farmland located in agricultural markets throughout North America. The substantial majority of the farms in its portfolio include primary row crops, such as corn and soybeans. Farmland Partners Inc. is based in United States. “
Several other brokerages have also issued reports on FPI. B. Riley lowered Farmland Partners from a “buy” rating to a “neutral” rating and set a $7.50 target price on the stock. in a research note on Tuesday, November 13th. ValuEngine lowered Farmland Partners from a “hold” rating to a “sell” rating in a research note on Friday, November 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Farmland Partners currently has a consensus rating of “Hold” and a consensus target price of $8.25.
Shares of Farmland Partners stock opened at $5.93 on Thursday. The firm has a market cap of $183.22 million, a P/E ratio of 16.47 and a beta of 0.38. Farmland Partners has a 12 month low of $4.45 and a 12 month high of $9.19.
Farmland Partners (NYSE:FPI) last issued its quarterly earnings results on Monday, November 5th. The financial services provider reported $0.02 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.02. The business had revenue of $12.55 million for the quarter, compared to analyst estimates of $12.76 million. Farmland Partners had a return on equity of 2.98% and a net margin of 20.85%. On average, analysts anticipate that Farmland Partners will post 0.29 EPS for the current fiscal year.
In related news, Director Chris A. Downey acquired 15,395 shares of the firm’s stock in a transaction that occurred on Monday, October 15th. The shares were bought at an average cost of $6.27 per share, for a total transaction of $96,526.65. Following the purchase, the director now owns 7,386 shares in the company, valued at approximately $46,310.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Good acquired 6,250 shares of the firm’s stock in a transaction that occurred on Wednesday, December 26th. The shares were bought at an average price of $4.66 per share, for a total transaction of $29,125.00. Following the completion of the purchase, the director now owns 9,050 shares in the company, valued at approximately $42,173. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 40,145 shares of company stock worth $228,912. Corporate insiders own 10.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of Farmland Partners by 0.5% during the 3rd quarter. BlackRock Inc. now owns 2,096,289 shares of the financial services provider’s stock valued at $14,045,000 after purchasing an additional 10,175 shares during the period. Virtu Financial LLC grew its position in Farmland Partners by 90.4% during the third quarter. Virtu Financial LLC now owns 27,781 shares of the financial services provider’s stock worth $186,000 after buying an additional 13,188 shares in the last quarter. Nissay Asset Management Corp Japan ADV purchased a new position in Farmland Partners during the third quarter worth about $112,000. Taylor Frigon Capital Management LLC grew its position in Farmland Partners by 13.5% during the third quarter. Taylor Frigon Capital Management LLC now owns 145,598 shares of the financial services provider’s stock worth $975,000 after buying an additional 17,367 shares in the last quarter. Finally, Goelzer Investment Management Inc. purchased a new position in Farmland Partners during the third quarter worth about $129,000. Institutional investors own 49.50% of the company’s stock.
Farmland Partners Company Profile
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 the date of this release, the Company owns approximately 162,000 acres in 17 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota, Texas and Virginia.
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