Farmland Partners (NYSE:FPI) Stock Rating Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Farmland Partners (NYSE:FPI) from a hold rating to a sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings raised Farmland Partners from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. Four equities research analysts have rated the stock with a Hold rating. According to MarketBeat, Farmland Partners currently has an average rating of “Hold”.

Farmland Partners Stock Down 4.2%

Farmland Partners stock opened at $8.43 on Friday. The company has a market capitalization of $367.80 million, a P/E ratio of 56.20 and a beta of 0.68. The stock’s 50 day moving average is $10.50 and its 200 day moving average is $10.71. Farmland Partners has a twelve month low of $8.35 and a twelve month high of $13.23.

Farmland Partners (NYSE:FPI) last posted its quarterly earnings data on Wednesday, October 28th. The financial services provider reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.37). The company had revenue of $9.78 million for the quarter, compared to the consensus estimate of $5.98 million. Farmland Partners had a net margin of 19.47% and a return on equity of 2.09%. As a group, equities analysts expect that Farmland Partners will post 0.23 EPS for the current year.

Farmland Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, January 4th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, January 4th. This represents a $0.36 annualized dividend and a dividend yield of 4.3%. Farmland Partners’s dividend payout ratio (DPR) is 240.00%.

Hedge Funds Weigh In On Farmland Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FPI. Fortitude Family Office LLC purchased a new position in Farmland Partners in the 3rd quarter worth about $25,000. Pinnacle Holdings LLC bought a new position in Farmland Partners during the 2nd quarter valued at about $31,000. Legal & General Group Plc purchased a new stake in shares of Farmland Partners during the 2nd quarter valued at about $39,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Farmland Partners during the 2nd quarter valued at about $53,000. Finally, State of Wyoming purchased a new stake in shares of Farmland Partners during the 1st quarter valued at about $79,000. 58.00% of the stock is owned by institutional investors.

Farmland Partners Company Profile

Farmland Partners Inc is a real estate investment trust (REIT) that owns and manages agricultural land in the United States. The company leases its farmland to farmers and agricultural operators, who use the properties to grow crops and conduct related farming activities.

Farmland Partners’ portfolio is primarily focused on high-quality farmland used to produce major row crops, including corn, soybeans, wheat and cotton, as well as specialty crops in selected markets. Its properties are located across a range of prominent agricultural regions, providing exposure to diverse soil types, growing conditions and crop economies.

Founded in 2013 and headquartered in Denver, Colorado, Farmland Partners became a publicly traded company on the New York Stock Exchange in 2014.