Farmland Partners (NYSE:FPI) Lowered to Sell Rating by StockNews.com

Farmland Partners (NYSE:FPI) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Farmland Partners Stock Down 0.8 %

Shares of FPI stock opened at $12.41 on Thursday. The stock has a 50-day simple moving average of $11.77 and a 200 day simple moving average of $11.32. Farmland Partners has a fifty-two week low of $9.70 and a fifty-two week high of $12.87. The stock has a market capitalization of $597.55 million, a P/E ratio of 12.41 and a beta of 0.69.

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 the consensus estimate of $0.17 by $0.02. Farmland Partners had a return on equity of 11.47% and a net margin of 102.89%. The business had revenue of $21.47 million during the quarter, compared to analysts’ expectations of $20.29 million. On average, sell-side analysts anticipate that Farmland Partners will post 0.13 earnings per share for the current year.

Insider Activity at Farmland Partners

In related news, Director John A. Good purchased 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average price of $12.23 per share, for a total transaction of $183,450.00. Following the transaction, the director now directly owns 101,465 shares of the company’s stock, valued at $1,240,916.95. This trade represents a 17.35 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Farmland Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC boosted its position in Farmland Partners by 470.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,944 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 2,428 shares during the period. Promus Capital LLC acquired a new stake in Farmland Partners during the 4th quarter worth about $56,000. KLP Kapitalforvaltning AS acquired a new stake in Farmland Partners during the 4th quarter worth about $104,000. GSA Capital Partners LLP acquired a new stake in Farmland Partners during the 3rd quarter worth about $105,000. Finally, Point72 Asset Management L.P. acquired a new stake in Farmland Partners during the 3rd quarter worth about $111,000. Institutional investors and hedge funds own 58.00% of the company’s stock.

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 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.