Zacks: Analysts Expect Farmland Partners Inc. (NYSE:FPI) Will Post Quarterly Sales of $13.02 Million

Analysts expect Farmland Partners Inc. (NYSE:FPIGet Rating) to post sales of $13.02 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Farmland Partners’ earnings, with estimates ranging from $11.85 million to $14.25 million. Farmland Partners posted sales of $11.58 million in the same quarter last year, which suggests a positive year over year growth rate of 12.4%. The business is expected to issue its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Farmland Partners will report full-year sales of $54.96 million for the current year, with estimates ranging from $52.53 million to $57.83 million. For the next fiscal year, analysts forecast that the company will report sales of $57.68 million, with estimates ranging from $55.06 million to $61.92 million. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Farmland Partners.

Farmland Partners (NYSE:FPIGet 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 analysts’ consensus estimates of $0.13 by $0.09. Farmland Partners had a return on equity of 1.94% and a net margin of 13.30%. During the same period in the previous year, the company posted $0.16 EPS.

Several brokerages have recently issued reports on FPI. StockNews.com began coverage on Farmland Partners in a research report on Thursday, March 31st. They set a “hold” rating for the company. Raymond James lifted their price objective on Farmland Partners from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Wednesday, March 16th. Finally, Zacks Investment Research raised 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’s stock. According to MarketBeat.com, Farmland Partners presently has a consensus rating of “Hold” and an average price target of $13.67.

Shares of Farmland Partners stock opened at $15.06 on Wednesday. Farmland Partners has a 1 year low of $10.62 and a 1 year high of $16.43. The firm has a market cap of $698.75 million, a PE ratio of -62.75 and a beta of 0.70. The stock has a fifty day moving average price of $13.75 and a 200-day moving average price of $12.47.

The company also recently announced a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Friday, April 1st were given a $0.05 dividend. The ex-dividend date was Thursday, March 31st. This represents a $0.20 dividend on an annualized basis and a yield of 1.33%. Farmland Partners’s payout ratio is -83.33%.

In related news, CEO Paul A. Pittman purchased 2,000 shares of the firm’s stock in a transaction on Friday, March 25th. The shares were acquired at an average cost of $13.44 per share, with a total value of $26,880.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 9.30% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Morgan Stanley lifted its holdings in shares of Farmland Partners by 16.7% during the second quarter. Morgan Stanley now owns 296,177 shares of the financial services provider’s stock valued at $3,569,000 after purchasing an additional 42,487 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in Farmland Partners during the 3rd quarter valued at approximately $126,000. Janney Montgomery Scott LLC bought a new stake in Farmland Partners during the 3rd quarter valued at approximately $233,000. SG Americas Securities LLC bought a new stake in Farmland Partners during the 3rd quarter valued at approximately $209,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Farmland Partners by 13.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 18,006 shares of the financial services provider’s stock worth $216,000 after acquiring an additional 2,130 shares during the last quarter. 44.28% of the stock is currently owned by institutional investors.

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 and Estimates for Farmland Partners (NYSE:FPI)

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