Farmland Partners (NYSE:FPI) Cut to Sell at Wall Street Zen

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

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

Farmland Partners Stock Performance

FPI opened at $8.61 on Friday. The firm has a market cap of $375.44 million, a P/E ratio of 34.93 and a beta of 0.68. Farmland Partners has a 52-week low of $8.27 and a 52-week high of $13.23. The business’s fifty day moving average is $10.47 and its 200-day moving average is $10.70.

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

Farmland Partners Announces Dividend

The firm also recently disclosed 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. This represents a $0.36 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Monday, January 4th. Farmland Partners’s dividend payout ratio is currently 240.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Farmland Partners during the second quarter worth $40,290,000. Deutsche Bank AG acquired a new position in shares of Farmland Partners during the second quarter worth $9,101,000. Man Group plc bought a new position in shares of Farmland Partners in the 2nd quarter valued at $2,756,000. Bank of New York Mellon Corp bought a new position in shares of Farmland Partners in the 2nd quarter valued at $2,663,000. Finally, Cauble & Harre Wealth Management Inc. bought a new position in shares of Farmland Partners in the 2nd quarter valued at $1,837,000. Institutional investors own 58.00% of the company’s stock.

About Farmland Partners

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.