Farmland Partners (NYSE:FPI) Earns Buy Rating from Analysts at Roth Capital

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

Other analysts have also issued research reports about the company. B. Riley boosted their target price on Farmland Partners from $13.00 to $16.00 in a research report on Monday, May 9th. StockNews.com lowered Farmland Partners from a hold rating to a sell rating in a research report on Wednesday, June 1st. Finally, Raymond James upped their price objective on Farmland Partners from $14.00 to $15.00 and gave the stock an outperform rating in a research report on Wednesday, March 16th.

Shares of NYSE FPI opened at $14.00 on Tuesday. The firm has a market cap of $700.94 million, a price-to-earnings ratio of -63.64 and a beta of 0.70. Farmland Partners has a 52-week low of $10.62 and a 52-week high of $16.43. The business’s 50 day moving average is $14.69 and its two-hundred day moving average is $13.12.

Farmland Partners (NYSE:FPIGet Rating) last announced 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 period in the previous year, the business posted ($0.05) earnings per share. On average, analysts predict that Farmland Partners will post 0.23 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, July 1st will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.71%. The ex-dividend date 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 is -90.91%.

A number of large investors have recently bought and sold shares of FPI. Geode Capital Management LLC increased its holdings in Farmland Partners by 3.6% in the third quarter. Geode Capital Management LLC now owns 532,838 shares of the financial services provider’s stock valued at $6,388,000 after buying an additional 18,724 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Farmland Partners in the third quarter valued at $998,000. Voya Investment Management LLC increased its holdings in Farmland Partners by 10.3% in the third quarter. Voya Investment Management LLC now owns 12,162 shares of the financial services provider’s stock valued at $146,000 after buying an additional 1,138 shares during the last quarter. Two Sigma Investments LP purchased a new position in Farmland Partners in the third quarter valued at $496,000. Finally, Two Sigma Advisers LP increased its holdings in Farmland Partners by 381.8% in the third quarter. Two Sigma Advisers LP now owns 105,750 shares of the financial services provider’s stock valued at $1,268,000 after buying an additional 83,800 shares during the last quarter. 44.28% of the stock is currently owned by hedge funds and other institutional investors.

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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