Brokerages Set $8.71 Target Price for American Farmland Co (NASDAQ:AFCO)
Shares of American Farmland Co (NASDAQ:AFCO) have been given a consensus broker rating score of 2.40 (Buy) from the five analysts that provide coverage for the stock, Zacks Investment Research reports. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. American Farmland’s rating score has declined by 60% in the last three months as a result of various analysts’ ratings changes.
Brokerages have set a twelve-month consensus price target of $8.71 for the company and are anticipating that the company will post $0.04 earnings per share for the current quarter, according to Zacks. Zacks has also given American Farmland an industry rank of 103 out of 265 based on the ratings given to related companies.
A number of equities research analysts have recently weighed in on AFCO shares. Zacks Investment Research upgraded shares of American Farmland from a “sell” rating to a “hold” rating in a research report on Wednesday, July 6th. Janney Montgomery Scott downgraded shares of American Farmland from a “buy” rating to a “neutral” rating in a research report on Monday, September 12th. Finally, Deutsche Bank AG downgraded shares of American Farmland from a “buy” rating to a “hold” rating and dropped their price target for the company from $9.00 to $8.00 in a research report on Tuesday, September 13th.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC increased its position in shares of American Farmland by 86.7% in the second quarter. HighTower Advisors LLC now owns 33,496 shares of the company’s stock valued at $205,000 after buying an additional 15,552 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of American Farmland by 84.1% in the second quarter. BlackRock Fund Advisors now owns 38,677 shares of the company’s stock valued at $234,000 after buying an additional 17,672 shares in the last quarter. First Allied Advisory Services Inc. purchased a new position in shares of American Farmland during the second quarter valued at approximately $262,000. Cannell Capital LLC purchased a new position in shares of American Farmland during the second quarter valued at approximately $277,000. Finally, Raymond James & Associates increased its position in shares of American Farmland by 125.3% in the second quarter. Raymond James & Associates now owns 189,558 shares of the company’s stock valued at $1,145,000 after buying an additional 105,421 shares in the last quarter.
Shares of American Farmland (NASDAQ:AFCO) traded down 1.19% on Friday, hitting $7.50. The stock had a trading volume of 64,992 shares. The firm has a 50 day moving average price of $6.91 and a 200 day moving average price of $6.44. American Farmland has a one year low of $4.95 and a one year high of $8.12. The company’s market capitalization is $126.91 million.
American Farmland (NASDAQ:AFCO) last released its quarterly earnings results on Monday, August 15th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.04. The firm had revenue of $3.08 million for the quarter, compared to the consensus estimate of $3.19 million. American Farmland’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts predict that American Farmland will post ($0.12) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 22nd were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Tuesday, September 20th. This represents a $0.25 annualized dividend and a yield of 3.29%.
American Farmland Company Profile
American Farmland Company is an internally managed real estate company. The Company owns a portfolio of farmland, consisting of mature permanent, specialty/vegetable row and commodity row crop farms, including farmland in development, located in select major agricultural regions in the United States.
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