ValuEngine Lowers Farmland Partners (FPI) to Sell
ValuEngine cut shares of Farmland Partners (NYSE:FPI) from a hold rating to a sell rating in a research note released on Thursday.
Other analysts have also issued reports about the company. Zacks Investment Research upgraded Farmland Partners from a hold rating to a buy rating and set a $9.00 target price on the stock in a research note on Saturday, February 3rd. Raymond James Financial restated a hold rating on shares of Farmland Partners in a research note on Monday, December 4th. Finally, B. Riley restated a hold rating and issued a $10.00 target price on shares of Farmland Partners in a research note on Monday, November 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $9.45.
Shares of Farmland Partners (NYSE:FPI) opened at $7.98 on Thursday. The company has a market capitalization of $258.05, a price-to-earnings ratio of -798,000.00 and a beta of 0.21. Farmland Partners has a fifty-two week low of $7.15 and a fifty-two week high of $11.39.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be paid a $0.127 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $0.51 annualized dividend and a dividend yield of 6.37%. Farmland Partners’s payout ratio is presently -5,100,000.00%.
Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Farmland Partners by 2.2% in the fourth quarter. BlackRock Inc. now owns 2,043,650 shares of the financial services provider’s stock valued at $17,739,000 after buying an additional 43,263 shares during the period. Vanguard Group Inc. raised its stake in shares of Farmland Partners by 8.5% in the second quarter. Vanguard Group Inc. now owns 1,326,437 shares of the financial services provider’s stock valued at $11,858,000 after buying an additional 103,927 shares during the period. State Street Corp raised its stake in shares of Farmland Partners by 16.4% in the second quarter. State Street Corp now owns 543,030 shares of the financial services provider’s stock valued at $4,856,000 after buying an additional 76,673 shares during the period. Wells Fargo & Company MN grew its position in shares of Farmland Partners by 7.4% in the third quarter. Wells Fargo & Company MN now owns 541,388 shares of the financial services provider’s stock valued at $4,894,000 after purchasing an additional 37,371 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Farmland Partners in the fourth quarter valued at $4,206,000. Hedge funds and other institutional investors own 42.64% 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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