Farmland Partners (FPI) to Release Earnings on Tuesday

Farmland Partners (NYSE:FPIGet Rating) is scheduled to be announcing its earnings results after the market closes on Tuesday, May 3rd. Analysts expect the company to announce earnings of $0.01 per share for the quarter.

Farmland Partners (NYSE:FPIGet Rating) last issued its earnings results on Monday, February 21st. The financial services provider reported $0.22 earnings per share for the quarter, beating the 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 company posted $0.16 EPS. On average, analysts expect Farmland Partners to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Shares of Farmland Partners stock opened at $15.00 on Friday. The firm’s 50-day simple moving average is $13.56 and its 200-day simple moving average is $12.40. Farmland Partners has a twelve month low of $10.62 and a twelve month high of $16.43. The firm has a market cap of $695.97 million, a P/E ratio of -62.33 and a beta of 0.80.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Friday, April 1st were given a dividend of $0.05 per share. The ex-dividend date was Thursday, March 31st. This represents a $0.20 annualized dividend and a dividend yield of 1.33%. Farmland Partners’s dividend payout ratio (DPR) is currently -83.33%.

In related news, CEO Paul A. Pittman bought 2,000 shares of the company’s stock in a transaction on Friday, March 25th. The stock was bought at an average cost of $13.44 per share, with a total value of $26,880.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC grew its position in shares of Farmland Partners by 749.0% during the 4th quarter. Millennium Management LLC now owns 376,704 shares of the financial services provider’s stock worth $4,502,000 after buying an additional 332,333 shares during the period. D. E. Shaw & Co. Inc. grew its position in shares of Farmland Partners by 103.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 256,744 shares of the financial services provider’s stock worth $3,068,000 after buying an additional 130,788 shares during the period. Cubist Systematic Strategies LLC grew its position in shares of Farmland Partners by 214.4% during the 4th quarter. Cubist Systematic Strategies LLC now owns 74,195 shares of the financial services provider’s stock worth $887,000 after buying an additional 50,597 shares during the period. BlackRock Inc. grew its position in shares of Farmland Partners by 2.4% during the 4th quarter. BlackRock Inc. now owns 2,036,290 shares of the financial services provider’s stock worth $24,334,000 after buying an additional 48,185 shares during the period. Finally, Morgan Stanley grew its position in shares of Farmland Partners by 16.7% during the 2nd quarter. Morgan Stanley now owns 296,177 shares of the financial services provider’s stock worth $3,569,000 after buying an additional 42,487 shares during the period. 47.28% of the stock is owned by institutional investors.

Several analysts have recently weighed in on FPI shares. StockNews.com started coverage on shares of Farmland Partners in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Raymond James lifted their price target on shares of Farmland Partners from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, March 16th. Finally, Zacks Investment Research raised shares of Farmland Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $13.67.

About Farmland Partners (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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Earnings History for Farmland Partners (NYSE:FPI)

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