Analysts forecast that Farmland Partners Inc. (NYSE:FPI – Get Rating) will post earnings of $0.03 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Farmland Partners’ earnings, with estimates ranging from $0.02 to $0.04. Farmland Partners posted earnings per share of ($0.05) during the same quarter last year, which would indicate a positive year over year growth rate of 160%. The business is scheduled to issue its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Farmland Partners will report full-year earnings of $0.26 per share for the current year, with EPS estimates ranging from $0.24 to $0.27. For the next fiscal year, analysts forecast that the firm will report earnings of $0.32 per share, with EPS estimates ranging from $0.30 to $0.33. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Farmland Partners.
Farmland Partners (NYSE:FPI – Get Rating) last issued its earnings results on Monday, February 21st. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.09. Farmland Partners had a net margin of 13.30% and a return on equity of 1.94%. During the same quarter last year, the firm earned $0.16 EPS.
In other Farmland Partners news, CEO Paul A. Pittman acquired 2,000 shares of the stock in a transaction on Friday, March 25th. The shares were purchased at an average price of $13.44 per share, for a total transaction of $26,880.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Voya Investment Management LLC raised its holdings in shares of Farmland Partners by 10.3% in the third quarter. Voya Investment Management LLC now owns 12,162 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 1,138 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Farmland Partners by 6.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 20,735 shares of the financial services provider’s stock valued at $248,000 after purchasing an additional 1,261 shares during the last quarter. Barclays PLC raised its holdings in shares of Farmland Partners by 4.4% in the fourth quarter. Barclays PLC now owns 34,737 shares of the financial services provider’s stock valued at $415,000 after purchasing an additional 1,464 shares during the last quarter. Strs Ohio increased its holdings in Farmland Partners by 4.8% during the third quarter. Strs Ohio now owns 38,128 shares of the financial services provider’s stock worth $457,000 after buying an additional 1,732 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC increased its holdings in Farmland Partners by 1.8% during the fourth quarter. Taylor Frigon Capital Management LLC now owns 118,391 shares of the financial services provider’s stock worth $1,415,000 after buying an additional 2,061 shares during the last quarter. Institutional investors own 47.28% of the company’s stock.
NYSE FPI traded down $0.17 on Monday, hitting $13.95. 39,551 shares of the company were exchanged, compared to its average volume of 488,879. The company has a market cap of $647.25 million, a PE ratio of -58.13 and a beta of 0.80. Farmland Partners has a 12 month low of $10.62 and a 12 month high of $15.06. The stock has a fifty day moving average of $12.57 and a 200-day moving average of $12.14.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 15th. Shareholders of record on Friday, April 1st will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, March 31st. This represents a $0.20 annualized dividend and a yield of 1.43%. Farmland Partners’s payout ratio is -83.33%.
Farmland Partners Company Profile (Get Rating)
Farmland Partners Inc is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate. As of the date of this release, the Company owns approximately 155,000 acres in 16 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota and Virginia.
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