Farmland Partners Inc. (NYSE: FPI) stock fell -0.07% on Friday to $14.44 against a previous-day closing price of $14.45. With 0.37 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.67 million shares. During the session, the REIT – Specialty company that operates in wider Real Estate sector, reached to the highest price of $14.56 whereas the lowest price it dropped to was $14.27. The 52-week range on FPI shows that it touched its highest point at $16.43 and its lowest point at $10.62 during that stretch. It currently has a 1-year price target of $16.00. With its current market cap of 723.01 million, FPI has annualized dividend of $0.24 while the current yield stands at 1.66%. Beta for the stock currently stands at 0.73.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FPI was up-trending over the past week, with a rise of 3.00%, but this was up by 4.03% over a month. Three-month performance dropped to -2.63% while six-month performance rose 28.81%. The stock gained 13.17% in the past year, while it has gained 20.84% so far this year. A look at the trailing 12-month EPS for FPI yields -0.21 with Next year EPS estimates of 0.20. For the next quarter, that number is -0.03. This implies an EPS growth rate of 6.30% for this year and 37.76% for next year.
Float and Shares Shorts:
At present, 45.78 million FPI shares are outstanding with a float of 45.69 million shares on hand for trading. On Apr 28, 2022, short shares totaled 0.89 million, which was 1.77% higher than short shares on Mar 30, 2022. In addition to Mr. Paul A. Pittman as the firm’s Exec. Chairman & CEO, Mr. Luca Fabbri serves as its Pres.
Through their ownership of 42.08% of FPI’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 34.71% of FPI, in contrast to 32.55% held by mutual funds. Shares owned by individuals account for 15.43%. As the largest shareholder in FPI with 10.29% of the stake, Global Alpha Capital Management L holds 3,160,363 shares worth 3,160,363. A second-largest stockholder of FPI, BlackRock Fund Advisors, holds 1,839,116 shares, controlling over 5.99% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in FPI, holding 1,638,617 shares or 5.33% stake. With a 5.77% stake in FPI, the CC&L Global Alpha Fund is the largest stakeholder. A total of 1,772,367 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 4.31% of FPI stock, is the second-largest Mutual Fund holder. It holds 1,324,098 shares valued at 18.27 million. iShares Russell 2000 ETF holds 3.17% of the stake in FPI, owning 973,413 shares worth 13.43 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FPI since 6 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With FPI analysts setting a high price target of $17.00 and a low target of $16.00, the average target price over the next 12 months is $16.20. Based on these targets, FPI could surge 17.73% to reach the target high and rise by 10.8% to reach the target low. Reaching the average price target will result in a growth of 12.19% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. FPI will report FY 2022 earnings on 03/15/2023. Analysts have provided yearly estimates in a range of $0.20 being high and -$0.01 being low. For FPI, this leads to a yearly average estimate of $0.09. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. The surprise factor in the prior quarter was $0.08. Based on analyst estimates, the high estimate for the next quarter is $0.01 and the low estimate is -$0.02. The average estimate for the next quarter is thus -$0.01.
Summary of Insider Activity:
Insiders traded FPI stock several times over the past three months with 4 Buys and 0 Sells. In these transactions, 2,928 shares were bought while 0 shares were sold. The number of buy transactions has increased to 37 while that of sell transactions has risen to 7 over the past year. The total number of shares bought during that period was 333,326 while 16,386 shares were sold.