Farmland Partners (NYSE:FPI) Earns Buy Rating from Analysts at Berenberg Bank

Berenberg Bank initiated coverage on shares of Farmland Partners (NYSE:FPI) in a research note issued to investors on Thursday, The Fly reports. The brokerage set a “buy” rating on the financial services provider’s stock.

Separately, Zacks Investment Research raised shares of Farmland Partners from a “sell” rating to a “hold” rating in a report on Thursday, August 5th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.75.

Shares of NYSE:FPI opened at $11.41 on Thursday. The firm has a 50 day moving average of $12.15 and a 200 day moving average of $12.48. Farmland Partners has a 52 week low of $6.27 and a 52 week high of $14.85. The company has a market capitalization of $374.48 million, a price-to-earnings ratio of -47.54 and a beta of 0.88.

Farmland Partners (NYSE:FPI) last released its quarterly earnings results on Wednesday, August 4th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.13). Farmland Partners had a return on equity of 0.16% and a net margin of 6.19%. As a group, equities analysts anticipate that Farmland Partners will post -0.01 earnings per share for the current fiscal year.

In other Farmland Partners news, Director John A. Good purchased 5,825 shares of the stock in a transaction on Thursday, September 30th. The shares were bought at an average cost of $12.10 per share, with a total value of $70,482.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders acquired 8,825 shares of company stock worth $108,633. 13.60% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of FPI. Firestone Capital Management acquired a new position in shares of Farmland Partners in the second quarter worth about $26,000. Tradewinds Capital Management LLC raised its position in shares of Farmland Partners by 197.3% in the second quarter. Tradewinds Capital Management LLC now owns 3,779 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 2,508 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of Farmland Partners in the second quarter worth about $114,000. Envestnet Asset Management Inc. acquired a new position in shares of Farmland Partners during the 2nd quarter worth about $121,000. Finally, WMS Partners LLC acquired a new position in shares of Farmland Partners during the 2nd quarter worth about $121,000. Institutional investors and hedge funds own 41.24% of the company’s stock.

About Farmland Partners

Farmland Partners, Inc operates as a real estate investment trust. The firm engages in the management and acquisition of farmland and land with agricultural development potential. Its property portfolio focuses on the primary crops, such as corn, soybeans, wheat, rice and cotton and the remaining land is used to grow specialty crops, such as almond, citrus, blueberries, vegetables and edible beans.

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