Farmland Partners (NYSE:FPI) Lifted to “Hold” at StockNews.com

Farmland Partners (NYSE:FPIGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

A number of other analysts have also recently commented on the company. B. Riley lifted their target price on Farmland Partners from $13.00 to $16.00 in a research report on Monday, May 9th. Roth Capital initiated coverage on Farmland Partners in a research report on Tuesday, June 21st. They set a “buy” rating and a $16.00 target price on the stock.

Farmland Partners Price Performance

Shares of NYSE FPI opened at $14.84 on Thursday. The company has a market capitalization of $742.99 million, a price-to-earnings ratio of -67.45 and a beta of 0.71. The business has a 50-day moving average of $14.26 and a two-hundred day moving average of $13.51. Farmland Partners has a 1 year low of $10.62 and a 1 year high of $16.43.

Farmland Partners (NYSE:FPIGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The financial services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). Farmland Partners had a return on equity of 1.39% and a net margin of 10.44%. During the same period in the previous year, the company earned ($0.05) EPS. As a group, equities research analysts expect that Farmland Partners will post 0.23 earnings per share for the current year.

Hedge Funds Weigh In On Farmland Partners

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates increased its position in Farmland Partners by 41.2% in the 4th quarter. Raymond James & Associates now owns 129,820 shares of the financial services provider’s stock valued at $1,551,000 after acquiring an additional 37,884 shares during the period. Brookstone Capital Management acquired a new position in Farmland Partners in the 1st quarter valued at about $302,000. Allspring Global Investments Holdings LLC acquired a new position in Farmland Partners in the 4th quarter valued at about $322,000. Oppenheimer & Co. Inc. acquired a new position in Farmland Partners during the 4th quarter worth approximately $5,789,000. Finally, BCGM Wealth Management LLC increased its position in Farmland Partners by 11.9% during the 1st quarter. BCGM Wealth Management LLC now owns 142,203 shares of the financial services provider’s stock worth $2,093,000 after purchasing an additional 15,135 shares during the period. Institutional investors and hedge funds own 44.28% of the company’s stock.

Farmland Partners Company Profile

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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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