In yesterday’s Wall Street session, Farmland Partners Inc. (NYSE:FPI) shares traded at $10.41, down -4.58% from the previous session.
5 analysts cover Farmland Partners Inc. (NYSE:FPI), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $14.00 and a low of $12.00, we find $12.50. Given the previous closing price of $10.91, this indicates a potential upside of 14.57 percent. FPI stock price is now -16.14% away from the 50-day moving average and -23.16% away from the 200-day moving average. The market capitalization of the company currently stands at $555.37M.
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The stock has received a hold rating from 2 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $12.70 as their price target over the next twelve months.
On June 21, 2022, ROTH Capital recently initiated its ‘Buy’ rating on the stock quoting a target price of $16, while ‘Berenberg’ rates the stock as ‘Buy’.
In other news, Good John A, Director bought 9,300 shares of the company’s stock on Mar 01. The stock was bought for $98,890 at an average price of $10.63. Upon completion of the transaction, the Director now directly owns 64,265 shares in the company, valued at $0.67 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 27, Executive Chairman Pittman Paul A bought 6,500 shares of the business’s stock. A total of $68,495 was incurred on buying the stock at an average price of $10.54. This leaves the insider owning 1,267,000 shares of the company worth $13.19 million. Insiders disposed of 10,918 shares of company stock worth roughly $0.11 million over the past 1 year. A total of 2.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FPI stock. A new stake in Farmland Partners Inc. shares was purchased by BALYASNY ASSET MANAGEMENT LLC during the first quarter worth $2,981,000. WESTWOOD HOLDINGS GROUP INC invested $2,398,000 in shares of FPI during the first quarter. In the first quarter, STATE OF NEW JERSEY COMMON PENSION FUND D acquired a new stake in Farmland Partners Inc. valued at approximately $1,799,000. RENAISSANCE TECHNOLOGIES LLC acquired a new stake in FPI for approximately $1,221,000. TAP CONSULTING, LLC purchased a new stake in FPI valued at around $1,038,000 in the second quarter. In total, there are 244 active investors with 47.60% ownership of the company’s stock.
On Tuesday morning Farmland Partners Inc. (NYSE: FPI) stock kicked off with the opening price of $10.88. During the past 12 months, Farmland Partners Inc. has had a low of $10.26 and a high of $16.43. The fifty day moving average price for FPI is $12.41 and a two-hundred day moving average price translates $13.55 for the stock.
The latest earnings results from Farmland Partners Inc. (NYSE: FPI) was released for Sep, 2022. According to the REIT – Specialty Company, earnings per share came in at $0.01, beating analysts’ expectations of -$0.02 by 0.03. This compares to $0.21 EPS in the same period last year. The net profit margin was 13.70% and return on equity was 1.50% for FPI. The company reported revenue of $21.82 million for the quarter, compared to $20.05 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 8.86 percent. For the current quarter, analysts expect FPI to generate $21.9M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/17/2023. Investors who held shares on 04/03/2023 were paid a $0.06 dividend. On an annualized basis, this represents a $0.24 dividend and a 2.31% percent yield. There was an ex-dividend date of 03/31/2023 for this dividend. In terms of dividend payout ratio, FPI is presently at 138.70%.
Farmland Partners Inc.(FPI) 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 the date of this release, the Company owns approximately 155,000 acres in 16 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota and Virginia. We have approximately 26 crop types and over 100 tenants. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014.
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