Farmland Partners (NYSE:FPI) Receives New Coverage from Analysts at Roth Capital

Roth Capital initiated coverage on shares of Farmland Partners (NYSE:FPIGet Rating) in a research note released on Tuesday, The Fly reports. The brokerage issued a buy rating and a $16.00 target price on the financial services provider’s stock.

A number of other research analysts have also recently weighed in on FPI. B. Riley raised their price objective on shares of Farmland Partners from $13.00 to $16.00 in a research note on Monday, May 9th. StockNews.com cut shares of Farmland Partners from a hold rating to a sell rating in a research note on Wednesday, June 1st. Finally, Raymond James raised their price objective on shares of Farmland Partners from $14.00 to $15.00 and gave the stock an outperform rating in a research note on Wednesday, March 16th.

NYSE FPI opened at $14.00 on Tuesday. Farmland Partners has a 52-week low of $10.62 and a 52-week high of $16.43. The stock has a market capitalization of $700.94 million, a P/E ratio of -63.64 and a beta of 0.70. The firm has a 50-day moving average price of $14.69 and a 200 day moving average price of $13.12.

Farmland Partners (NYSE:FPIGet Rating) last issued its earnings results on Tuesday, May 3rd. The financial services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). Farmland Partners had a net margin of 10.44% and a return on equity of 1.39%. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. On average, equities research analysts predict that Farmland Partners will post 0.23 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, July 1st will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, June 30th. This is a positive change from Farmland Partners’s previous quarterly dividend of $0.05. Farmland Partners’s dividend payout ratio (DPR) is -90.91%.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Global Alpha Capital Management Ltd. boosted its holdings in shares of Farmland Partners by 14.6% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 3,160,363 shares of the financial services provider’s stock valued at $43,455,000 after purchasing an additional 403,400 shares during the last quarter. Forward Management LLC acquired a new position in shares of Farmland Partners during the 4th quarter valued at $7,595,000. State Street Corp lifted its holdings in shares of Farmland Partners by 1.3% during the 1st quarter. State Street Corp now owns 555,992 shares of the financial services provider’s stock valued at $7,672,000 after acquiring an additional 7,052 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Farmland Partners by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 532,838 shares of the financial services provider’s stock valued at $6,388,000 after acquiring an additional 18,724 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Farmland Partners during the 4th quarter valued at $5,789,000. Institutional investors own 44.28% of the company’s stock.

About Farmland Partners (Get Rating)

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.

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