Zacks Investment Research upgraded shares of Farmland Partners (NYSE:FPI) from a sell rating to a hold rating in a report released on Thursday morning, Zacks.com reports.
According to Zacks, “Farmland Partners Inc. operates as a real estate company. It owns and seeks to acquire primary row crop farmland located in agricultural markets throughout North America. The substantial majority of the farms in its portfolio include primary row crops, such as corn and soybeans. Farmland Partners Inc. is based in United States. “
FPI has been the topic of a number of other reports. TheStreet lowered Zumiez from a b rating to a c+ rating in a research note on Thursday, June 6th. ValuEngine lowered Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd.
FPI opened at $6.23 on Thursday. The firm has a market capitalization of $210.28 million, a price-to-earnings ratio of 25.96 and a beta of 0.77. Farmland Partners has a 52 week low of $4.45 and a 52 week high of $7.85. The firm’s fifty day moving average is $6.60.
Farmland Partners (NYSE:FPI) last posted its quarterly earnings data on Wednesday, May 8th. The financial services provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). Farmland Partners had a net margin of 21.18% and a return on equity of 3.47%. The company had revenue of $10.89 million for the quarter, compared to analyst estimates of $11.30 million. Research analysts predict that Farmland Partners will post 0.2 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Friday, June 28th. Farmland Partners’s payout ratio is 83.33%.
A number of large investors have recently modified their holdings of the business. Marshall Wace LLP boosted its position in Farmland Partners by 39.8% in the 1st quarter. Marshall Wace LLP now owns 143,244 shares of the financial services provider’s stock valued at $917,000 after buying an additional 40,745 shares during the last quarter. Sawtooth Solutions LLC bought a new position in Farmland Partners in the 1st quarter valued at $115,000. Global Alpha Capital Management Ltd. boosted its position in Farmland Partners by 55.4% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 1,273,344 shares of the financial services provider’s stock valued at $8,149,000 after buying an additional 454,200 shares during the last quarter. Clark Capital Management Group Inc. boosted its position in Farmland Partners by 15.3% in the 1st quarter. Clark Capital Management Group Inc. now owns 241,978 shares of the financial services provider’s stock valued at $1,549,000 after buying an additional 32,089 shares during the last quarter. Finally, Cetera Advisor Networks LLC boosted its position in Farmland Partners by 69.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 34,467 shares of the financial services provider’s stock valued at $221,000 after buying an additional 14,156 shares during the last quarter. 45.95% of the stock is currently owned by hedge funds and other institutional investors.
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 approximately 162,000 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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