In a report released today, Craig Kucera from B.Riley FBR maintained a Hold rating on Farmland (FPI), with a price target of $7.00. The company’s shares closed last Tuesday at $6.62.
According to TipRanks.com, Kucera is a 2-star analyst with an average return of -0.2% and a 54.7% success rate. Kucera covers the Financial sector, focusing on stocks such as Alpine Income Property Trust Inc, Monmouth Real Estate Investment, and Consolidated-Tomoka Land Co.
Farmland has an analyst consensus of Hold, with a price target consensus of $7.00.
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Based on Farmland’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $11.65 million and net profit of $394K. In comparison, last year the company earned revenue of $10.89 million and had a net profit of $8,000.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FPI in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Farmland Partners, Inc. is a real estate investment trust, which 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 balance is used to grow specialty crops, such as almond, citrus, blueberries, vegetables, and edible beans. The company was founded on September 27, 2013 and is headquartered in Denver, CO.