Farmland Partners (NYSE:FPI) Raised to “Hold” at StockNews.com

Farmland Partners (NYSE:FPI) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Farmland Partners Stock Up 1.0 %

Shares of NYSE FPI opened at $11.73 on Friday. Farmland Partners has a twelve month low of $9.70 and a twelve month high of $12.87. The firm has a market cap of $538.34 million, a P/E ratio of 11.73 and a beta of 0.69. The company has a 50 day moving average of $11.70 and a 200 day moving average of $11.38.

Farmland Partners (NYSE:FPI) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $21.47 million during the quarter, compared to analyst estimates of $20.29 million. Farmland Partners had a net margin of 102.89% and a return on equity of 11.47%. As a group, equities analysts expect that Farmland Partners will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Farmland Partners

In related news, Director John A. Good bought 15,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was acquired at an average cost of $12.23 per share, for a total transaction of $183,450.00. Following the purchase, the director now owns 101,465 shares in the company, valued at approximately $1,240,916.95. This represents a 17.35 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Farmland Partners

A number of hedge funds have recently modified their holdings of FPI. Westwood Holdings Group Inc. bought a new stake in shares of Farmland Partners during the 4th quarter valued at $4,704,000. Raymond James Financial Inc. bought a new stake in shares of Farmland Partners during the 4th quarter valued at $3,490,000. Global Alpha Capital Management Ltd. grew its position in shares of Farmland Partners by 9.2% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 3,387,769 shares of the financial services provider’s stock valued at $39,840,000 after acquiring an additional 284,000 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Farmland Partners by 6.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,672,919 shares of the financial services provider’s stock valued at $38,382,000 after acquiring an additional 211,181 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Farmland Partners by 93.4% during the 4th quarter. JPMorgan Chase & Co. now owns 243,045 shares of the financial services provider’s stock valued at $2,858,000 after acquiring an additional 117,350 shares during the period. Institutional investors own 58.00% of the company’s stock.

Farmland Partners Company Profile

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 December 31, 2023, the Company owns and/or manages approximately 171,100 acres in 16 states, including Arkansas, California, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Nebraska, North Carolina, Oklahoma, South Carolina and Texas.