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

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 note issued to investors on Saturday.

Farmland Partners Stock Performance

FPI stock remained flat at $11.59 during midday trading on Friday. 251,124 shares of the company's stock were exchanged, compared to its average volume of 370,570. Farmland Partners has a twelve month low of $9.66 and a twelve month high of $12.87. The company has a market cap of $533.02 million, a PE ratio of 11.36 and a beta of 0.83. The stock's 50-day moving average is $10.98 and its 200-day moving average is $11.15.

Farmland Partners (NYSE:FPI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). Farmland Partners had a net margin of 107.24% and a return on equity of 11.95%. The business had revenue of $6.97 million for the quarter, compared to analysts' expectations of $9.49 million. Sell-side analysts anticipate that Farmland Partners will post 0.13 earnings per share for the current fiscal year.

Institutional Trading of Farmland Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased its stake in shares of Farmland Partners by 470.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,944 shares of the financial services provider's stock worth $35,000 after purchasing an additional 2,428 shares in the last quarter. Strs Ohio bought a new position in shares of Farmland Partners during the first quarter worth $96,000. GAMMA Investing LLC boosted its position in shares of Farmland Partners by 2,102.9% during the first quarter. GAMMA Investing LLC now owns 9,076 shares of the financial services provider's stock worth $101,000 after acquiring an additional 8,664 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Farmland Partners during the fourth quarter worth $104,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of Farmland Partners during the first quarter worth $109,000. 58.00% of the stock is owned by hedge funds and other institutional investors.

Farmland Partners Company Profile

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 December 31, 2023, the Company owns and/or manages approximately 171,100 acres in 16 states, including Arkansas, California, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Nebraska, North Carolina, Oklahoma, South Carolina and Texas.