Farmland Partners (NYSE:FPI) Raised to Hold at Wall Street Zen

Farmland Partners (NYSE:FPI) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Farmland Partners Price Performance

Shares of NYSE:FPI opened at $11.32 on Friday. The business’s 50-day moving average is $10.41 and its 200 day moving average is $11.30. Farmland Partners has a 1 year low of $9.66 and a 1 year high of $12.87. The firm has a market capitalization of $520.61 million, a P/E ratio of 11.32 and a beta of 0.82.

Farmland Partners (NYSE:FPI) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Farmland Partners had a return on equity of 11.47% and a net margin of 102.89%. The business had revenue of $6.97 million for the quarter, compared to analysts’ expectations of $9.49 million. On average, analysts expect that Farmland Partners will post 0.13 EPS for the current year.

Institutional Trading of Farmland Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC increased its position in Farmland Partners by 16.5% during the 4th quarter. SG Americas Securities LLC now owns 18,704 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 2,651 shares during the period. Janney Montgomery Scott LLC lifted its stake in Farmland Partners by 1.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 96,816 shares of the financial services provider’s stock valued at $1,139,000 after buying an additional 1,356 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Farmland Partners in the 4th quarter valued at approximately $511,000. Asset Management One Co. Ltd. lifted its stake in Farmland Partners by 3.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 64,605 shares of the financial services provider’s stock valued at $747,000 after buying an additional 2,121 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Farmland Partners by 2.8% in the 4th quarter. Rhumbline Advisers now owns 79,766 shares of the financial services provider’s stock valued at $938,000 after acquiring an additional 2,135 shares during the last quarter. Institutional investors and hedge funds own 58.00% 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 December 31, 2023, the Company owns and/or manages approximately 171,100 acres in 16 states, including Arkansas, California, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Nebraska, North Carolina, Oklahoma, South Carolina and Texas.