Farmland Partners Inc. (NYSE:FPI) CEO Paul A. Pittman purchased 1,000 shares of the stock in a transaction that occurred on Monday, September 13th. The stock was bought at an average cost of $12.64 per share, with a total value of $12,640.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of FPI stock traded down $0.15 on Wednesday, hitting $12.56. 131,885 shares of the stock were exchanged, compared to its average volume of 250,591. The firm has a market capitalization of $412.22 million, a PE ratio of -52.33 and a beta of 0.88. Farmland Partners Inc. has a one year low of $6.27 and a one year high of $14.85. The firm’s 50 day moving average is $12.28 and its two-hundred day moving average is $12.55.
Farmland Partners (NYSE:FPI) last posted its quarterly earnings results on Wednesday, August 4th. The financial services provider reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.13). Farmland Partners had a return on equity of 0.16% and a net margin of 6.19%. Sell-side analysts expect that Farmland Partners Inc. will post -0.01 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of FPI. Firestone Capital Management bought a new position in shares of Farmland Partners during the 2nd quarter worth $26,000. Tradewinds Capital Management LLC boosted its stake in Farmland Partners by 197.3% in the 2nd quarter. Tradewinds Capital Management LLC now owns 3,779 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 2,508 shares during the period. Daiwa Securities Group Inc. boosted its stake in Farmland Partners by 121.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 6,919 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 3,800 shares during the period. Certified Advisory Corp bought a new position in Farmland Partners in the 1st quarter worth about $105,000. Finally, Catalyst Capital Advisors LLC bought a new position in Farmland Partners in the 2nd quarter worth about $114,000. Institutional investors own 41.24% of the company’s stock.
Several equities research analysts have recently issued reports on FPI shares. Robert W. Baird reaffirmed a “hold” rating and set a $12.00 target price on shares of Farmland Partners in a research report on Tuesday, May 18th. Zacks Investment Research raised Farmland Partners from a “sell” rating to a “hold” rating in a research report on Thursday, August 5th.
Farmland Partners Company Profile
Farmland Partners, Inc operates as a real estate investment trust. The firm engages in the management and acquisition of farmland and land with agricultural development potential. Its property portfolio focuses on the primary crops, such as corn, soybeans, wheat, rice and cotton and the remaining land is used to grow specialty crops, such as almond, citrus, blueberries, vegetables and edible beans.
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