Farmland Partners (FPI) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Farmland Partners (NYSE:FPI) from a sell rating to a hold rating in a report 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. “

FPI has been the subject of several other research reports. ValuEngine cut shares of Farmland Partners from a hold rating to a sell rating in a research note on Tuesday, December 18th. B. Riley cut shares of Farmland Partners from a buy rating to a neutral rating and set a $7.50 target price for the company. in a research note on Tuesday, November 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Farmland Partners currently has an average rating of Hold and a consensus target price of $8.25.



Shares of NYSE:FPI opened at $5.93 on Thursday. Farmland Partners has a 1-year low of $4.45 and a 1-year high of $9.19. 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 (NYSE:FPI) last released its earnings results on Monday, November 5th. The financial services provider reported $0.02 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. Farmland Partners had a net margin of 20.85% and a return on equity of 2.98%. The company had revenue of $12.55 million during the quarter, compared to analysts’ expectations of $12.76 million. Analysts forecast that Farmland Partners will post 0.29 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Tuesday, January 1st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, December 28th. Farmland Partners’s dividend payout ratio (DPR) is presently 55.56%.

In related news, Director John A. Good acquired 6,250 shares of Farmland Partners stock in a transaction that occurred on Wednesday, December 26th. The stock was purchased 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 directly owns 9,050 shares of the company’s stock, valued at $42,173. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Paul A. Pittman acquired 11,000 shares of Farmland Partners stock in a transaction that occurred on Friday, December 21st. The stock was bought at an average price of $4.82 per share, with a total value of $53,020.00. Following the purchase, the chief executive officer now directly owns 1,237,521 shares of the company’s stock, valued at $5,964,851.22. The disclosure for this purchase can be found here. Insiders bought a total of 24,750 shares of company stock valued at $132,385 in the last 90 days. Company insiders own 10.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in FPI. Vanguard Group Inc. lifted its stake in shares of Farmland Partners by 7.1% in the third quarter. Vanguard Group Inc. now owns 3,253,190 shares of the financial services provider’s stock valued at $21,797,000 after purchasing an additional 215,781 shares during the period. Vanguard Group Inc lifted its stake in shares of Farmland Partners by 7.1% in the third quarter. Vanguard Group Inc now owns 3,253,190 shares of the financial services provider’s stock valued at $21,797,000 after purchasing an additional 215,781 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Farmland Partners by 1,267.7% in the third quarter. JPMorgan Chase & Co. now owns 121,587 shares of the financial services provider’s stock valued at $814,000 after purchasing an additional 112,697 shares during the period. Brookfield Asset Management Inc. lifted its stake in shares of Farmland Partners by 51.1% in the third quarter. Brookfield Asset Management Inc. now owns 213,000 shares of the financial services provider’s stock valued at $1,427,000 after purchasing an additional 72,000 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of Farmland Partners by 3.5% in the second quarter. BlackRock Inc. now owns 2,086,114 shares of the financial services provider’s stock valued at $18,357,000 after purchasing an additional 70,839 shares during the period. Hedge funds and other institutional investors own 49.50% of the company’s stock.

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 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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