Farmland Partners Inc. (FPI) Stock Rating Reaffirmed by B. Riley
Farmland Partners Inc. (NYSE:FPI)‘s stock had its “hold” rating reissued by equities researchers at B. Riley in a note issued to investors on Monday. They presently have a $10.00 price target on the financial services provider’s stock. B. Riley’s price objective would indicate a potential upside of 11.86% from the company’s current price.
A number of other research analysts also recently weighed in on FPI. FBR & Co downgraded shares of Farmland Partners from an “outperform” rating to a “market perform” rating and cut their price target for the company from $12.00 to $10.00 in a report on Tuesday, July 18th. Zacks Investment Research upgraded shares of Farmland Partners from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Robert W. Baird downgraded shares of Farmland Partners from an “outperform” rating to a “neutral” rating and cut their price target for the company from $10.00 to $9.00 in a report on Tuesday, August 15th. BidaskClub upgraded shares of Farmland Partners from a “strong sell” rating to a “sell” rating in a report on Thursday, August 24th. Finally, Raymond James Financial, Inc. initiated coverage on shares of Farmland Partners in a report on Monday, September 18th. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $9.96.
Farmland Partners (NYSE FPI) traded down $0.08 during trading on Monday, hitting $8.94. 230,600 shares of the stock were exchanged, compared to its average volume of 257,972. The company has a market cap of $291.68, a P/E ratio of 16.11 and a beta of 0.17. Farmland Partners has a fifty-two week low of $8.06 and a fifty-two week high of $11.97.
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In other news, General Counsel Erica Borenstein bought 3,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average cost of $8.45 per share, for a total transaction of $25,350.00. Following the purchase, the general counsel now owns 19,404 shares of the company’s stock, valued at approximately $163,963.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased a total of 8,620 shares of company stock worth $73,179 over the last quarter. 2.76% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Alliancebernstein L.P. acquired a new position in Farmland Partners in the 1st quarter valued at $136,000. Raymond James Financial Services Advisors Inc. grew its stake in Farmland Partners by 12.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 12,808 shares of the financial services provider’s stock valued at $115,000 after buying an additional 1,398 shares during the last quarter. Loeb Partners Corp acquired a new position in Farmland Partners in the 2nd quarter valued at $121,000. Pinnacle Associates Ltd. grew its stake in Farmland Partners by 12.4% in the 2nd quarter. Pinnacle Associates Ltd. now owns 13,600 shares of the financial services provider’s stock valued at $122,000 after buying an additional 1,500 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new position in Farmland Partners in the 1st quarter valued at $153,000. Institutional investors and hedge funds own 39.18% of the company’s stock.
Farmland Partners Company Profile
Farmland Partners, Inc is an internally managed real estate company. The Company owns and seeks to acquire farmland located in agricultural markets throughout North America. The Company is the sole member of the general partner of Farmland Partners Operating Partnership, LP (the Operating Partnership).
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