American Farmland Co (AFCO) Downgraded to “Hold” at Zacks Investment Research
According to Zacks, “American Farmland Company is a real estate investment trust which focused on the ownership, acquisition, development and management of farmland. Its operating segment consists of Permanent Crop, Specialty/Vegetable Row Crop, Commodity Row Crop and Development. Permanent Crop Segment which produces fruits and tree nuts; Specialty/Vegetable Row Crop Segment, which provides vegetable products; Commodity row crop Segment, which offers field crops and Development segment, which consists of its Blue Cypress Farm, Roadrunner Ranch, Condor Ranch, Grassy Island Groves, Pintail Vineyards and Hawk Creek Ranch properties. American Farmland Company is based in New York. “
Other research analysts also recently issued reports about the stock. Deutsche Bank AG downgraded shares of American Farmland from a buy rating to a hold rating and lowered their price objective for the company from $9.00 to $8.00 in a research report on Tuesday, September 13th. Janney Montgomery Scott downgraded shares of American Farmland from a buy rating to a neutral rating in a research report on Monday, September 12th.
Shares of American Farmland (NASDAQ:AFCO) traded up 1.47% during trading on Thursday, hitting $7.60. 31,871 shares of the stock were exchanged. American Farmland has a 12-month low of $4.95 and a 12-month high of $8.12. The stock’s 50 day moving average is $7.36 and its 200-day moving average is $6.59. The stock’s market cap is $128.60 million.
American Farmland (NASDAQ:AFCO) last announced its quarterly earnings data on Monday, November 14th. The company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.04. The company had revenue of $4.50 million for the quarter, compared to analysts’ expectations of $2.91 million. The firm’s revenue was up 125.0% compared to the same quarter last year. Equities research analysts anticipate that American Farmland will post ($0.12) EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Monday, January 2nd will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 3.34%. The ex-dividend date is Wednesday, December 28th.
Hedge funds have recently bought and sold shares of the company. First New York Securities LLC NY acquired a new stake in American Farmland during the third quarter valued at approximately $104,000. KCG Holdings Inc. purchased a new stake in American Farmland during the third quarter valued at about $151,000. HighTower Advisors LLC increased its stake in American Farmland by 86.7% in the second quarter. HighTower Advisors LLC now owns 33,496 shares of the company’s stock valued at $205,000 after buying an additional 15,552 shares in the last quarter. BlackRock Fund Advisors increased its stake in American Farmland by 84.1% in the second quarter. BlackRock Fund Advisors now owns 38,677 shares of the company’s stock valued at $234,000 after buying an additional 17,672 shares in the last quarter. Finally, Northern Trust Corp increased its stake in American Farmland by 135.2% in the third quarter. Northern Trust Corp now owns 29,776 shares of the company’s stock valued at $235,000 after buying an additional 17,116 shares in the last quarter.
About American Farmland
American Farmland Company is an internally managed real estate company. The Company owns a portfolio of farmland, consisting of mature permanent, specialty/vegetable row and commodity row crop farms, including farmland in development, located in select major agricultural regions in the United States.
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