Brokerages expect Farmland Partners Inc (NYSE:FPI) to report $10.84 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Farmland Partners’ earnings, with the lowest sales estimate coming in at $10.58 million and the highest estimate coming in at $10.99 million. Farmland Partners posted sales of $10.89 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.5%. The company is scheduled to report its next quarterly earnings results on Wednesday, May 13th.
On average, analysts expect that Farmland Partners will report full year sales of $54.23 million for the current year, with estimates ranging from $53.38 million to $55.24 million. For the next year, analysts expect that the company will post sales of $54.10 million, with estimates ranging from $53.38 million to $55.14 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Farmland Partners.
Farmland Partners (NYSE:FPI) last posted its earnings results on Wednesday, March 11th. The financial services provider reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05). The firm had revenue of $21.88 million for the quarter, compared to analyst estimates of $19.24 million. Farmland Partners had a net margin of 20.08% and a return on equity of 3.39%.
Several large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of Farmland Partners by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 409,901 shares of the financial services provider’s stock worth $2,779,000 after acquiring an additional 1,547 shares during the period. Garner Asset Management Corp raised its holdings in shares of Farmland Partners by 1.6% in the 4th quarter. Garner Asset Management Corp now owns 130,644 shares of the financial services provider’s stock worth $3,275,000 after purchasing an additional 2,064 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Farmland Partners by 5.6% in the 4th quarter. Advisor Group Inc. now owns 39,925 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 2,103 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Farmland Partners by 5.4% in the 4th quarter. Rhumbline Advisers now owns 53,119 shares of the financial services provider’s stock worth $360,000 after purchasing an additional 2,739 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Farmland Partners by 2.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 187,605 shares of the financial services provider’s stock worth $1,272,000 after purchasing an additional 3,691 shares in the last quarter. 52.02% of the stock is owned by institutional investors.
Farmland Partners stock traded up $0.09 during midday trading on Monday, reaching $5.91. 148,900 shares of the stock traded hands, compared to its average volume of 139,927. The firm has a fifty day moving average price of $6.23 and a two-hundred day moving average price of $6.53. The firm has a market cap of $174.33 million, a price-to-earnings ratio of -73.87 and a beta of 0.60. Farmland Partners has a fifty-two week low of $5.05 and a fifty-two week high of $7.22.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Tuesday, March 31st. Farmland Partners’s dividend payout ratio is currently 153.85%.
About Farmland Partners
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 162,000 acres in 17 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota, Texas and Virginia.
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