Farmland Partners (NYSE:FPI) Price Target Increased to $16.00 by Analysts at B. Riley

Farmland Partners (NYSE:FPIGet Rating) had its price target increased by investment analysts at B. Riley from $13.00 to $16.00 in a report released on Monday, The Fly reports. B. Riley’s price target indicates a potential upside of 5.33% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Farmland Partners from a “hold” rating to a “sell” rating in a report on Wednesday, May 4th. Zacks Investment Research upgraded shares of Farmland Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 15th. Finally, Raymond James raised their target price on shares of Farmland Partners from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Wednesday, March 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.25.

Shares of FPI opened at $15.19 on Monday. The stock has a market cap of $704.79 million, a PE ratio of -69.05 and a beta of 0.70. Farmland Partners has a fifty-two week low of $10.62 and a fifty-two week high of $16.43. The firm’s 50-day simple moving average is $13.98 and its two-hundred day simple moving average is $12.55.

Farmland Partners (NYSE:FPIGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The financial services provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). Farmland Partners had a net margin of 10.44% and a return on equity of 1.52%. During the same quarter in the previous year, the firm posted ($0.05) EPS. On average, sell-side analysts forecast that Farmland Partners will post 0.21 EPS for the current fiscal year.

In other Farmland Partners news, CEO Paul A. Pittman purchased 2,000 shares of the firm’s stock in a transaction on Friday, March 25th. The shares were acquired at an average cost of $13.44 per share, for a total transaction of $26,880.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.30% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Farmland Partners during the 4th quarter valued at $322,000. Taylor Frigon Capital Management LLC raised its position in shares of Farmland Partners by 1.8% during the 4th quarter. Taylor Frigon Capital Management LLC now owns 118,391 shares of the financial services provider’s stock valued at $1,415,000 after purchasing an additional 2,061 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Farmland Partners during the 4th quarter valued at $5,789,000. Two Sigma Investments LP bought a new stake in shares of Farmland Partners during the 3rd quarter valued at $496,000. Finally, Jump Financial LLC bought a new stake in shares of Farmland Partners during the 3rd quarter valued at $325,000. Institutional investors and hedge funds own 44.28% of the company’s stock.

About Farmland Partners (Get Rating)

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 155,000 acres in 16 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota and Virginia.

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