Farmland Partners Inc. (FPI) Rating Lowered to Market Perform at FBR & Co

Farmland Partners Inc. (NYSE:FPI) was downgraded by FBR & Co from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday, July 18th, MarketBeat reports. They presently have a $10.00 price objective on the financial services provider’s stock, down from their prior price objective of $12.00. FBR & Co’s target price suggests a potential upside of 13.77% from the stock’s previous close. FBR & Co also issued estimates for Farmland Partners’ Q2 2017 earnings at $0.05 EPS, FY2017 earnings at $0.28 EPS and FY2018 earnings at $0.35 EPS.

Several other research analysts have also recently issued reports on FPI. TheStreet raised Farmland Partners from a “d” rating to a “c-” rating in a research report on Monday, April 10th. Zacks Investment Research cut Farmland Partners from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 10th. Robert W. Baird lowered their price objective on Farmland Partners from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, June 16th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $10.00 price objective (down from $11.75) on shares of Farmland Partners in a research report on Monday, June 19th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $10.90.

Shares of Farmland Partners (NYSE FPI) traded up 0.11% during midday trading on Tuesday, reaching $8.79. The company had a trading volume of 279,036 shares. The company’s 50 day moving average price is $8.92 and its 200-day moving average price is $10.18. The company has a market capitalization of $286.04 million, a P/E ratio of 156.96 and a beta of 0.18. Farmland Partners has a 52 week low of $8.55 and a 52 week high of $11.97.

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In other news, Director Dennie Dixon Boardman sold 65,422 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $9.84, for a total value of $643,752.48. Following the completion of the sale, the director now directly owns 1,601 shares of the company’s stock, valued at approximately $15,753.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul A. Pittman acquired 5,000 shares of Farmland Partners stock in a transaction on Friday, June 16th. The shares were bought at an average cost of $8.99 per share, with a total value of $44,950.00. Following the completion of the purchase, the chief executive officer now owns 545,388 shares in the company, valued at $4,903,038.12. The disclosure for this purchase can be found here. Insiders bought a total of 15,700 shares of company stock valued at $149,202 over the last three months. Company insiders own 2.76% of the company’s stock.

A number of hedge funds have recently bought and sold shares of FPI. Clear Harbor Asset Management LLC increased its stake in Farmland Partners by 3.7% in the first quarter. Clear Harbor Asset Management LLC now owns 14,603 shares of the financial services provider’s stock valued at $163,000 after buying an additional 515 shares in the last quarter. Stelac Advisory Services LLC increased its stake in Farmland Partners by 3.2% in the second quarter. Stelac Advisory Services LLC now owns 18,005 shares of the financial services provider’s stock valued at $161,000 after buying an additional 564 shares in the last quarter. Bard Associates Inc. increased its stake in Farmland Partners by 0.6% in the second quarter. Bard Associates Inc. now owns 116,125 shares of the financial services provider’s stock valued at $1,038,000 after buying an additional 700 shares in the last quarter. Schnieders Capital Management LLC increased its stake in Farmland Partners by 2.6% in the second quarter. Schnieders Capital Management LLC now owns 39,615 shares of the financial services provider’s stock valued at $354,000 after buying an additional 1,000 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased 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 valued at $122,000 after buying an additional 1,500 shares in the last quarter. 38.93% of the stock is owned by hedge funds and other institutional investors.

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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