Farmland Partners (NYSE:FPI) Downgraded to Hold at ValuEngine

ValuEngine lowered shares of Farmland Partners (NYSE:FPI) from a buy rating to a hold rating in a research note released on Thursday, ValuEngine reports.

A number of other brokerages have also commented on FPI. Zacks Investment Research lowered Farmland Partners from a hold rating to a sell rating in a report on Thursday, July 25th. TheStreet lowered Farmland Partners from a c- rating to a d+ rating in a report on Thursday, June 6th.

FPI traded down $0.07 during trading hours on Thursday, reaching $5.99. The company’s stock had a trading volume of 119,610 shares, compared to its average volume of 95,998. Farmland Partners has a 52 week low of $4.45 and a 52 week high of $7.85. The company’s 50-day simple moving average is $6.54. The firm has a market cap of $207.58 million, a price-to-earnings ratio of 24.96 and a beta of 0.74.

Farmland Partners (NYSE:FPI) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). Farmland Partners had a net margin of 21.18% and a return on equity of 3.47%. The firm had revenue of $10.89 million during the quarter, compared to analyst estimates of $11.30 million. Research analysts forecast that Farmland Partners will post 0.2 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Friday, June 28th. Farmland Partners’s dividend payout ratio is 83.33%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Citigroup Inc. grew its holdings in shares of Farmland Partners by 29.5% during the 4th quarter. Citigroup Inc. now owns 11,326 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 2,579 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Farmland Partners by 402.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,630 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 4,509 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Farmland Partners by 10.7% during the 4th quarter. Bank of America Corp DE now owns 80,886 shares of the financial services provider’s stock worth $367,000 after purchasing an additional 7,847 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Farmland Partners by 10.9% during the 4th quarter. Stifel Financial Corp now owns 85,700 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 8,400 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Farmland Partners by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 398,767 shares of the financial services provider’s stock worth $1,810,000 after purchasing an additional 11,993 shares in the last quarter. 45.87% 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.

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