Farmland Partners (FPI) Receives Average Rating of “Hold” from Analysts
Shares of Farmland Partners (NYSE:FPI) have been given an average recommendation of “Hold” by the nine analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $9.13.
Several brokerages have weighed in on FPI. Janney Montgomery Scott cut Farmland Partners from a “buy” rating to a “neutral” rating and set a $9.00 price objective for the company. in a report on Friday, March 16th. Zacks Investment Research cut Farmland Partners from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. ValuEngine cut Farmland Partners from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Finally, B. Riley reissued a “hold” rating and set a $9.00 price objective on shares of Farmland Partners in a report on Monday, March 5th.
Shares of NYSE:FPI opened at $8.12 on Thursday. The stock has a market cap of $268.67, a price-to-earnings ratio of 22.56 and a beta of 0.08. Farmland Partners has a 1-year low of $7.15 and a 1-year high of $11.15.
The business also recently declared a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Monday, April 2nd were paid a $0.127 dividend. The ex-dividend date was Thursday, March 29th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.26%. Farmland Partners’s dividend payout ratio (DPR) is presently 141.67%.
Hedge funds have recently made changes to their positions in the company. MetLife Investment Advisors LLC bought a new stake in shares of Farmland Partners in the 4th quarter valued at about $115,000. Oppenheimer & Co. Inc. bought a new stake in shares of Farmland Partners in the 4th quarter valued at about $127,000. Citadel Advisors LLC increased its stake in shares of Farmland Partners by 49.2% in the 4th quarter. Citadel Advisors LLC now owns 23,873 shares of the financial services provider’s stock valued at $207,000 after acquiring an additional 7,873 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in shares of Farmland Partners by 62.5% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 26,000 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Farmland Partners in the 4th quarter valued at about $237,000. 45.85% of the stock is owned by institutional investors.
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About Farmland Partners
Farmland Partners Inc is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate. As of the date of this release, the Company owns or has under contract over 166,000 acres in 17 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota, Texas and Virginia.
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