Farmland Partners Inc (FPI) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Farmland Partners Inc (NYSE:FPI) have been given a consensus rating of “Hold” by the eight ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $9.56.
Several equities analysts have commented on FPI shares. B. Riley restated a “hold” rating and issued a $10.00 price target on shares of Farmland Partners in a research note on Monday, November 13th. Raymond James Financial restated a “hold” rating on shares of Farmland Partners in a research note on Monday, December 4th. Zacks Investment Research upgraded shares of Farmland Partners from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Tuesday, September 19th. 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 note on Monday, September 25th. Finally, BidaskClub upgraded shares of Farmland Partners from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 24th.
Hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. grew its stake in shares of Farmland Partners by 12.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 12,808 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 1,398 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in Farmland Partners by 12.4% in the second quarter. Pinnacle Associates Ltd. now owns 13,600 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 1,500 shares in the last quarter. Alliancebernstein L.P. acquired a new position in Farmland Partners in the first quarter valued at $136,000. Sheaff Brock Investment Advisors LLC acquired a new position in Farmland Partners in the second quarter valued at $143,000. Finally, Royal Bank of Canada boosted its stake in Farmland Partners by 31.9% in the second quarter. Royal Bank of Canada now owns 17,014 shares of the financial services provider’s stock valued at $152,000 after acquiring an additional 4,119 shares in the last quarter. Hedge funds and other institutional investors own 41.01% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors 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 dividend yield of 5.56%. Farmland Partners’s payout ratio is currently 268.44%.
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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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