Farmland Partners (FPI) Earns “Hold” Rating from Raymond James Financial

Raymond James Financial reaffirmed their hold rating on shares of Farmland Partners (NYSE:FPI) in a research note released on Monday, December 4th.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Farmland Partners from a sell rating to a hold rating in a research report on Friday, August 11th. BidaskClub upgraded shares of Farmland Partners from a strong sell rating to a sell rating in a research report on Thursday, August 24th. Stifel Nicolaus reiterated a buy rating and set a $9.25 target price (down previously from $10.00) on shares of Farmland Partners in a research report on Monday, September 25th. B. Riley reiterated a hold rating and set a $10.00 target price on shares of Farmland Partners in a research report on Monday, November 13th. Finally, Robert W. Baird downgraded shares of Farmland Partners from an outperform rating to a neutral rating and dropped their target price for the company from $10.00 to $9.00 in a research report on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $9.65.

Shares of Farmland Partners (NYSE:FPI) traded down $0.02 during midday trading on Monday, hitting $8.68. 414,029 shares of the stock were exchanged, compared to its average volume of 371,239. The firm has a market cap of $285.54, a P/E ratio of 45.69 and a beta of 0.21. Farmland Partners has a 1 year low of $8.06 and a 1 year high of $11.76.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.127 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $0.51 dividend on an annualized basis and a yield of 5.85%. Farmland Partners’s dividend payout ratio (DPR) is presently 268.44%.

A number of hedge funds have recently made changes to their positions in the business. Stelac Advisory Services LLC increased its stake in Farmland Partners by 3.2% during the 2nd quarter. Stelac Advisory Services LLC now owns 18,005 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 564 shares in the last quarter. Bard Associates Inc. increased its stake in Farmland Partners by 0.6% during the 2nd quarter. Bard Associates Inc. now owns 116,125 shares of the financial services provider’s stock valued at $1,038,000 after purchasing an additional 700 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Farmland Partners by 12.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 12,808 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 1,398 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in Farmland Partners by 12.4% during the 2nd quarter. Pinnacle Associates Ltd. now owns 13,600 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Farmland Partners by 31.9% during the 2nd quarter. Royal Bank of Canada now owns 17,014 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 4,119 shares in the last quarter. Institutional investors and hedge funds own 41.01% of the company’s stock.

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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).

Analyst Recommendations for Farmland Partners (NYSE:FPI)

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