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

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

Farmland Partners Trading Up 7.5 %

NYSE:FPI traded up $0.88 during mid-day trading on Thursday, hitting $12.52. The stock had a trading volume of 740,406 shares, compared to its average volume of 247,473. Farmland Partners has a twelve month low of $9.70 and a twelve month high of $12.87. The stock has a 50-day simple moving average of $11.77 and a two-hundred day simple moving average of $11.31. The company has a market capitalization of $602.85 million, a PE ratio of 44.70 and a beta of 0.69.

Farmland Partners (NYSE:FPI) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $20.29 million. Farmland Partners had a net margin of 31.68% and a return on equity of 3.53%. Sell-side analysts predict that Farmland Partners will post 0.19 EPS for the current fiscal year.

Insider Activity

In related news, Director John A. Good bought 15,000 shares of the stock in a transaction dated 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 acquisition, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Farmland Partners

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC grew its holdings in shares of Farmland Partners by 470.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,944 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 2,428 shares during the last quarter. Promus Capital LLC purchased a new position in Farmland Partners during the 4th quarter worth approximately $56,000. KLP Kapitalforvaltning AS acquired a new position in Farmland Partners during the fourth quarter worth approximately $104,000. GSA Capital Partners LLP acquired a new position in Farmland Partners during the third quarter worth approximately $105,000. Finally, Point72 Asset Management L.P. purchased a new stake in Farmland Partners in the third quarter valued at approximately $111,000. 58.00% of the stock is currently owned by institutional investors and hedge funds.

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.