American Farmland Co (AFCO) Receives $8.33 Average PT from Brokerages
American Farmland Co (NASDAQ:AFCO) has been given a consensus rating of “Buy” by the eight ratings firms that are presently covering the company. Four investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $8.33.
Several analysts have recently issued reports on AFCO shares. Zacks Investment Research cut shares of American Farmland from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 8th. Janney Montgomery Scott cut shares of American Farmland from a “buy” rating to a “neutral” rating in a research report on Monday, September 12th. Finally, Deutsche Bank AG cut shares of American Farmland from a “buy” rating to a “hold” rating and reduced their price target for the stock from $9.00 to $8.00 in a research report on Tuesday, September 13th.
Shares of American Farmland (NASDAQ:AFCO) opened at 7.87 on Monday. The firm’s 50-day moving average is $7.36 and its 200 day moving average is $6.61. American Farmland has a 52-week low of $4.95 and a 52-week high of $8.12. The stock’s market cap is $154.32 million.
American Farmland (NASDAQ:AFCO) last issued its quarterly earnings results on Monday, November 14th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. The business had revenue of $4.50 million for the quarter, compared to analyst estimates of $2.91 million. American Farmland’s revenue was up 125.0% compared to the same quarter last year. Analysts forecast that American Farmland will post ($0.12) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Monday, January 2nd will be paid a $0.0625 dividend. The ex-dividend date is Wednesday, December 28th. This represents a $0.25 annualized dividend and a yield of 3.18%.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of American Farmland by 4.7% in the second quarter. Vanguard Group Inc. now owns 491,236 shares of the company’s stock worth $2,967,000 after buying an additional 22,083 shares during the period. BlackRock Fund Advisors raised its position in shares of American Farmland by 84.1% in the second quarter. BlackRock Fund Advisors now owns 38,677 shares of the company’s stock worth $234,000 after buying an additional 17,672 shares during the period. HighTower Advisors LLC raised its position in shares of American Farmland by 86.7% in the second quarter. HighTower Advisors LLC now owns 33,496 shares of the company’s stock worth $205,000 after buying an additional 15,552 shares during the period. Raymond James & Associates raised its position in shares of American Farmland by 125.3% in the second quarter. Raymond James & Associates now owns 189,558 shares of the company’s stock worth $1,145,000 after buying an additional 105,421 shares during the period. Finally, Citigroup Inc. raised its position in shares of American Farmland by 15,921.2% in the second quarter. Citigroup Inc. now owns 240,318 shares of the company’s stock worth $1,452,000 after buying an additional 238,818 shares during the period.
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American Farmland Company Profile
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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