Farmland Partners Inc. (FPI) Receives Hold Rating from B. Riley

B. Riley restated their hold rating on shares of Farmland Partners Inc. (NYSE:FPI) in a report published on Monday. The firm currently has a $10.00 price objective on the financial services provider’s stock.

FPI has been the subject of a number of other research reports. Zacks Investment Research upgraded Farmland Partners from a hold rating to a buy rating and set a $10.00 price objective for the company in a research report on Tuesday, September 19th. FBR & Co lowered Farmland Partners from an outperform rating to a market perform rating and cut their price objective for the company from $12.00 to $10.00 in a research report on Tuesday, July 18th. Raymond James Financial, Inc. began coverage on Farmland Partners in a research report on Monday, September 18th. They issued a market perform rating for the company. BidaskClub upgraded Farmland Partners from a strong sell rating to a sell rating in a research report on Thursday, August 24th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $9.25 price target (down previously from $10.00) on shares of Farmland Partners in a research report on Monday, September 25th. One analyst has rated the stock with a sell rating, six have issued 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 target price of $9.96.

Shares of Farmland Partners (FPI) traded up $0.02 during trading on Monday, hitting $9.02. The stock had a trading volume of 175,400 shares, compared to its average volume of 258,097. The stock has a market capitalization of $291.04, a price-to-earnings ratio of 16.07 and a beta of 0.17. Farmland Partners has a 52-week low of $8.06 and a 52-week high of $11.97.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be given a $0.127 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $0.51 annualized dividend and a yield of 5.63%. Farmland Partners’s dividend payout ratio is currently 268.44%.

In other news, Chairman Paul A. Pittman acquired 3,000 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was acquired at an average price of $8.40 per share, with a total value of $25,200.00. Following the completion of the purchase, the chairman now directly owns 1,084,615 shares in the company, valued at $9,110,766. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders acquired 8,620 shares of company stock valued at $73,179. 2.76% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. lifted its stake in Farmland Partners by 12.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 12,808 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 1,398 shares during the last quarter. Loeb Partners Corp bought a new stake in Farmland Partners in the second quarter worth about $121,000. Pinnacle Associates Ltd. lifted its stake in Farmland Partners by 12.4% in the second quarter. Pinnacle Associates Ltd. now owns 13,600 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 1,500 shares during the last quarter. Alliancebernstein L.P. bought a new stake in Farmland Partners in the first quarter worth about $136,000. Finally, Sheaff Brock Investment Advisors LLC bought a new stake in Farmland Partners in the second quarter worth about $143,000. 39.18% of the stock is owned by institutional investors and hedge funds.

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).

Analyst Recommendations for Farmland Partners (NYSE:FPI)

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