Farmland Partners (FPI) Upgraded to “Outperform” by Raymond James

Farmland Partners (NYSE:FPI) was upgraded by stock analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued on Wednesday, MarketBeat.com reports. The analysts noted that the move was a valuation call.

Several other research analysts have also recently weighed in on the company. ValuEngine cut Farmland Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded Farmland Partners from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a research report on Monday, May 7th. Finally, B. Riley upgraded Farmland Partners from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $8.50 to $8.00 in a research report on Thursday, July 12th. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $8.70.

NYSE FPI opened at $6.56 on Wednesday. Farmland Partners has a one year low of $5.15 and a one year high of $9.68. The stock has a market capitalization of $205.10 million, a PE ratio of 18.22 and a beta of 0.13.

Farmland Partners (NYSE:FPI) last posted its quarterly earnings results on Wednesday, May 9th. The financial services provider reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). Farmland Partners had a return on equity of 2.68% and a net margin of 19.85%. The business had revenue of $11.21 million during the quarter, compared to analysts’ expectations of $10.96 million. analysts anticipate that Farmland Partners will post 0.36 earnings per share for the current fiscal year.

In other news, CEO Paul A. Pittman acquired 5,252 shares of Farmland Partners stock in a transaction that occurred on Monday, May 14th. The stock was bought at an average price of $7.71 per share, for a total transaction of $40,492.92. Following the completion of the transaction, the chief executive officer now owns 1,178,286 shares in the company, valued at $9,084,585.06. The purchase 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 3,000 shares of Farmland Partners stock in a transaction that occurred on Monday, May 21st. The shares were purchased at an average price of $8.38 per share, with a total value of $25,140.00. Following the transaction, the chief executive officer now owns 1,181,286 shares of the company’s stock, valued at approximately $9,899,176.68. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 9,252 shares of company stock valued at $74,793. 2.76% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Barclays PLC increased its position in Farmland Partners by 95.1% during the first quarter. Barclays PLC now owns 18,530 shares of the financial services provider’s stock valued at $155,000 after acquiring an additional 9,034 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in Farmland Partners in the fourth quarter worth about $356,000. Ladenburg Thalmann Financial Services Inc. increased its position in Farmland Partners by 6.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 179,809 shares of the financial services provider’s stock worth $1,561,000 after buying an additional 11,132 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Farmland Partners by 19.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 70,564 shares of the financial services provider’s stock worth $613,000 after buying an additional 11,264 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in Farmland Partners by 1,542.0% in the fourth quarter. Alliancebernstein L.P. now owns 275,850 shares of the financial services provider’s stock worth $2,394,000 after buying an additional 259,050 shares in the last quarter. Institutional investors own 50.06% 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 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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Analyst Recommendations for Farmland Partners (NYSE:FPI)

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