Farmland Partners (FPI) Rating Increased to Hold at Zacks Investment Research

Farmland Partners (NYSE:FPI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research 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 a number of other research reports. ValuEngine lowered Farmland Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, December 18th. B. Riley lowered Farmland Partners from a “buy” rating to a “neutral” rating and set a $7.50 price target for the company. in a research report on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have given 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 price target of $8.25.

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 stock has a market capitalization of $183.22 million, a PE 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 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. Farmland Partners had a return on equity of 2.98% and a net margin of 20.85%. The company had revenue of $12.55 million during the quarter, compared to analyst estimates of $12.76 million. On average, analysts expect that Farmland Partners will post 0.29 earnings per share for the current year.

In other Farmland Partners news, Director John A. Good purchased 6,250 shares of the stock in a transaction on Wednesday, December 26th. The stock was acquired at an average price of $4.66 per share, with a total value of $29,125.00. Following the transaction, the director now directly owns 9,050 shares of the company’s stock, valued at approximately $42,173. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Chris A. Downey bought 15,395 shares of the firm’s stock in a transaction dated Monday, October 15th. The stock was purchased at an average cost of $6.27 per share, with a total value of $96,526.65. Following the transaction, the director now directly owns 7,386 shares in the company, valued at approximately $46,310.22. The disclosure for this purchase can be found here. Insiders have acquired a total of 40,145 shares of company stock valued at $228,912 in the last ninety days. 10.10% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in FPI. Nissay Asset Management Corp Japan ADV bought a new position in shares of Farmland Partners in the 3rd quarter worth approximately $112,000. Goelzer Investment Management Inc. bought a new position in shares of Farmland Partners in the 3rd quarter worth approximately $129,000. Virtu Financial LLC raised its position in shares of Farmland Partners by 90.4% in the 3rd quarter. Virtu Financial LLC now owns 27,781 shares of the financial services provider’s stock worth $186,000 after acquiring an additional 13,188 shares in the last quarter. Creative Financial Designs Inc. ADV raised its position in shares of Farmland Partners by 375.0% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 35,771 shares of the financial services provider’s stock worth $240,000 after acquiring an additional 28,240 shares in the last quarter. Finally, Vertex One Asset Management Inc. bought a new position in shares of Farmland Partners in the 3rd quarter worth approximately $470,000. 49.50% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading: Asset Allocation, Balancing Your Investments

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