Farm Partners rises on Janney's upgrade to 'buy'

Farmland Partners

13/01/2023 15:06

** Shares of real estate investment trust (REIT) Farmland
Partners Inc  FPI.N  up ~1.4% to $13.11
    ** Janney Montgomery Scott upgrades to "buy" from "neutral"
    ** Brokerage raises fair value estimate to $16, implying an
upside of ~24% on stock's last close
    ** Says FPI to benefit from various global demand factors
for its farm portfolio in 2023
    ** Adds FPI owned and managed lands are 100% occupied, as of
Sept 2022, with ~26 different crop types including corn,
soybeans, wheat
    ** YTD, stock is up ~5%
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))