Farmland Partners (NYSE:FPI) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of Farmland Partners (NYSE:FPI) from a sell rating to a hold rating in a research note issued to investors on Monday, February 4th.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Farmland Partners from a sell rating to a hold rating in a research note on Thursday, January 10th. B. Riley cut shares of Farmland Partners from a buy rating to a neutral rating and set a $7.50 price objective for the company. in a research note on Tuesday, November 13th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $8.25.

Shares of NYSE FPI traded down $0.04 during mid-day trading on Monday, reaching $5.10. 164,888 shares of the company were exchanged, compared to its average volume of 116,357. The stock has a market cap of $159.17 million, a PE ratio of 14.17 and a beta of 0.64. Farmland Partners has a twelve month low of $4.45 and a twelve month high of $9.19.

In other news, CEO Paul A. Pittman bought 11,000 shares of the firm’s stock in a transaction on Friday, December 21st. The shares were purchased at an average cost of $4.82 per share, with a total value of $53,020.00. Following the acquisition, the chief executive officer now directly owns 1,237,521 shares in the company, valued at $5,964,851.22. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John A. Good bought 6,250 shares of the firm’s stock in a transaction on Wednesday, December 26th. The stock was purchased at an average cost of $4.66 per share, for a total transaction of $29,125.00. Following the completion of the acquisition, the director now owns 9,050 shares in the company, valued at $42,173. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 22,275 shares of company stock worth $117,006. Insiders own 10.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Oaktree Capital Management LP increased its holdings in Farmland Partners by 8.6% in the 4th quarter. Oaktree Capital Management LP now owns 350,000 shares of the financial services provider’s stock valued at $1,589,000 after buying an additional 27,858 shares during the period. HRT Financial LLC bought a new position in Farmland Partners in the 4th quarter valued at about $366,000. Cetera Advisor Networks LLC bought a new position in Farmland Partners in the 4th quarter valued at about $94,000. Jane Street Group LLC bought a new position in Farmland Partners in the 4th quarter valued at about $265,000. Finally, Paloma Partners Management Co bought a new stake in shares of Farmland Partners during the 4th quarter valued at approximately $49,000. 49.55% of the stock is currently owned by hedge funds and other institutional investors.

About Farmland Partners

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 162,000 acres in 17 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota, Texas and Virginia.

Further Reading: Different Types of Derivatives

To view ValuEngine’s full report, visit ValuEngine’s official website.

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