StockNews.com Downgrades Farmland Partners (NYSE:FPI) to Sell

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

Farmland Partners Price Performance

Shares of FPI opened at $12.41 on Thursday. The business’s fifty day moving average price is $11.77 and its 200 day moving average price is $11.32. Farmland Partners has a 12-month low of $9.70 and a 12-month high of $12.87. The stock has a market capitalization of $597.55 million, a PE ratio of 12.41 and a beta of 0.69.

Farmland Partners (NYSE:FPI) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.19 earnings per share for the quarter, topping 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 firm had revenue of $21.47 million for the quarter, compared to analyst estimates of $20.29 million. As a group, research analysts anticipate that Farmland Partners will post 0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Farmland Partners news, Director John A. Good purchased 15,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were bought at an average cost of $12.23 per share, with a total value of $183,450.00. Following the completion of the acquisition, the director now owns 101,465 shares of the company’s stock, valued at approximately $1,240,916.95. This trade represents a 17.35 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FPI. SG Americas Securities LLC increased its holdings in shares of Farmland Partners by 82.6% during the third quarter. SG Americas Securities LLC now owns 16,053 shares of the financial services provider’s stock valued at $168,000 after purchasing an additional 7,264 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Farmland Partners during the third quarter valued at $1,700,000. Taylor Frigon Capital Management LLC increased its holdings in shares of Farmland Partners by 5.3% during the third quarter. Taylor Frigon Capital Management LLC now owns 121,754 shares of the financial services provider’s stock valued at $1,272,000 after purchasing an additional 6,138 shares during the period. Ballentine Partners LLC acquired a new position in shares of Farmland Partners during the third quarter valued at $197,000. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Farmland Partners by 10.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 194,088 shares of the financial services provider’s stock valued at $2,028,000 after purchasing an additional 18,465 shares during the period. 58.00% of the stock is owned by institutional investors and hedge funds.

Farmland Partners Company Profile

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.