Analysts expect Farmland Partners Inc. (NYSE:FPI – Get 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: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 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.
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.
- Get a free copy of the StockNews.com research report on Farmland Partners (FPI)
- Institutional Support For Rockwell International Begins To Erode
- Another Buy The Dip Opportunity In Freshpet
- Inflation Wreaks Havoc On Haverty Furniture Company
- Tractor Supply Stock Should Plow Ahead
- MarketBeat Podcast: Investing In Innovation, Robotics, AI and Healthcare
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Farmland Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Farmland Partners and related companies with MarketBeat.com's FREE daily email newsletter.