5 Best Farmland Stocks to Buy Now

4. Nutrien Ltd. (NYSE:NTR)

Number of Hedge Fund Holders: 48

Nutrien Ltd. (NYSE:NTR) is a Saskatoon, Canada-based fertilizer company that has the distinction of being the biggest manufacturer of potash and the third biggest manufacturer of nitrogen fertilizer in the world.

Although Nutrien Ltd. (NYSE:NTR) missed revenue estimates for Q2 2022, it surpassed adjusted EPS forecasts for the period. The company’s revenue achieved year-over-year (YoY) growth of 48% to $14.5 billion during Q2. Furthermore, net income rose from $1.94 per share to $6.51 per share. Nutrien Ltd.’s (NYSE:NTR) annual forward dividend yield stands at 2.10% as of August 22.

Following the release of its latest quarterly results, Ben Isaacson at Scotiabank upgraded Nutrien Ltd. (NYSE:NTR) stock from ‘Sector Perform’ to ‘Outperform’ on August 9. The analyst assigned the stock a target price of $110 and highlighted his bullish outlook on nitrogen fertilizers. Furthermore, Isaacson anticipates the potash market to moderate in the future and believes that this has been priced into the stock. The analyst believes that Nutrien Ltd. (NYSE:NTR) stock has strong fundamental support at a sum-of-the-parts price of $112.