Farmland Partners (FPI) Hits New 1-Year Low at $7.36

Shares of Farmland Partners Inc (NYSE:FPI) reached a new 52-week low during trading on Thursday . The stock traded as low as $7.36 and last traded at $7.35, with a volume of 152537 shares. The stock had previously closed at $7.41.

FPI has been the topic of several analyst reports. Zacks Investment Research raised Farmland Partners from a “hold” rating to a “buy” rating and set a $9.75 target price on the stock in a report on Tuesday, January 16th. B. Riley reaffirmed a “hold” rating and set a $10.00 target price on shares of Farmland Partners in a report on Monday, November 13th. Finally, Raymond James Financial reaffirmed a “hold” rating on shares of Farmland Partners in a report on Monday, December 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Farmland Partners currently has a consensus rating of “Hold” and an average target price of $9.45.

The firm has a market cap of $236.39, a price-to-earnings ratio of 13.05 and a beta of 0.13.

Farmland Partners (NYSE:FPI) last issued its quarterly earnings data on Wednesday, November 8th. The financial services provider reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). Farmland Partners had a net margin of 15.89% and a return on equity of 2.05%. analysts anticipate that Farmland Partners Inc will post 0.31 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its holdings in Farmland Partners by 2.2% in the fourth quarter. BlackRock Inc. now owns 2,043,650 shares of the financial services provider’s stock valued at $17,739,000 after purchasing an additional 43,263 shares during the period. Vanguard Group Inc. grew its holdings in Farmland Partners by 8.5% in the second quarter. Vanguard Group Inc. now owns 1,326,437 shares of the financial services provider’s stock valued at $11,858,000 after purchasing an additional 103,927 shares during the period. State Street Corp grew its holdings in Farmland Partners by 16.4% in the second quarter. State Street Corp now owns 543,030 shares of the financial services provider’s stock valued at $4,856,000 after purchasing an additional 76,673 shares during the period. Wells Fargo & Company MN grew its holdings in Farmland Partners by 7.4% in the third quarter. Wells Fargo & Company MN now owns 541,388 shares of the financial services provider’s stock valued at $4,894,000 after purchasing an additional 37,371 shares during the period. Finally, Ameriprise Financial Inc. acquired a new stake in Farmland Partners in the second quarter valued at approximately $3,529,000. 40.96% of the stock is currently owned by institutional investors.

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Farmland Partners Company Profile

Farmland Partners, Inc is an internally managed real estate company. The Company owns and seeks to acquire farmland located in agricultural markets throughout North America. The Company is the sole member of the general partner of Farmland Partners Operating Partnership, LP (the Operating Partnership).

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