Farmland Partners (NYSE:FPI) Stock Dropped to "Sell" by Wall Street Zen

Key Points

• Wall Street Zen downgraded Farmland Partners to “Sell” from “Hold,” while Weiss Ratings slightly upgraded its assessment; the broader analyst consensus remains “Hold.”
• Farmland Partners shares opened at $8.43, near their one-year low of $8.35 and below both their 50-day and 200-day moving averages. The company also reported a quarterly loss of $0.36 per share, missing estimates by $0.37.
• Institutional investors and hedge funds own approximately 58% of the stock, with several firms increasing their positions during the third quarter.

Farmland Partners (NYSE:FPI - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded 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.com, the stock presently has an average rating of "Hold".

Farmland Partners Stock Performance

NYSE FPI opened at $8.43 on Friday. The firm has a 50 day simple moving average of $10.50 and a 200-day simple moving average of $10.71. Farmland Partners has a one year low of $8.35 and a one year high of $13.23. The firm has a market cap of $367.80 million, a price-to-earnings ratio of 30.34 and a beta of 0.68.

Farmland Partners (NYSE:FPI - Get Free Report) last announced its earnings results on Wednesday, October 28th. The financial services provider reported ($0.36) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.37). Farmland Partners had a return on equity of 2.09% and a net margin of 19.47%. The business had revenue of $9.78 million for the quarter, compared to analysts' expectations of $5.98 million. Equities analysts predict that Farmland Partners will post 0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Farmland Partners

Several institutional investors have recently added to or reduced their stakes in the business. Accordant Advisory Group Inc boosted its stake in Farmland Partners by 0.6% during the third quarter. Accordant Advisory Group Inc now owns 1,472,811 shares of the financial services provider's stock worth $16,716,000 after acquiring an additional 8,235 shares in the last quarter. D.A. Davidson & CO. grew its holdings in Farmland Partners by 9.1% in the third quarter. D.A. Davidson & CO. now owns 14,087 shares of the financial services provider's stock worth $160,000 after purchasing an additional 1,178 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Farmland Partners in the third quarter worth about $243,000. Signaturefd LLC increased its stake in shares of Farmland Partners by 3,175.6% during the third quarter. Signaturefd LLC now owns 14,118 shares of the financial services provider's stock valued at $160,000 after purchasing an additional 13,687 shares in the last quarter. Finally, Corecam Pte. Ltd. increased its stake in shares of Farmland Partners by 32.5% during the third quarter. Corecam Pte. Ltd. now owns 31,530 shares of the financial services provider's stock valued at $358,000 after purchasing an additional 7,740 shares in the last quarter. 58.00% of the stock is currently owned by institutional investors and hedge funds.

Farmland Partners Company Profile

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.

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