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Wunderlich Securities Inc. downgrades Farmland Partners Inc. to 'hold'

Wunderlich Securities Inc. analyst lowered hisinvestment opinion of FarmlandPartners Inc. to "hold" from "buy," with aprice target of $11.50.

Theanalyst wrote in a research report: "We are downgrading Farmland Partners …given a 30bp increase to our cap rate assumption, a function of a rapidlychanging interest rate environment since the election and our changing biastoward a rising interest rate environment. However, we are raising our FY17AFFO estimate from $0.50 to $0.55 given expected accretion from a 4Q16 equityraise, while lowering our NAV estimate from $12.30 to $11.06 given a higher caprate assumption on the portfolio."