Equities research analysts forecast that Farmland Partners Inc (NYSE:FPI) will post $0.14 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Farmland Partners’ earnings, with the highest EPS estimate coming in at $0.16 and the lowest estimate coming in at $0.13. Farmland Partners posted earnings per share of $0.26 in the same quarter last year, which would suggest a negative year over year growth rate of 46.2%. The company is expected to announce its next quarterly earnings report on Wednesday, February 28th.
According to Zacks, analysts expect that Farmland Partners will report full-year earnings of $0.35 per share for the current year, with EPS estimates ranging from $0.33 to $0.37. For the next year, analysts anticipate that the firm will report earnings of $0.44 per share, with EPS estimates ranging from $0.39 to $0.49. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Farmland Partners.
A number of brokerages recently commented on FPI. Zacks Investment Research upgraded Farmland Partners from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Friday, November 24th. Raymond James Financial reiterated a “hold” rating on shares of Farmland Partners in a research report on Monday, December 4th. B. Riley reiterated a “hold” rating and issued a $10.00 price objective on shares of Farmland Partners in a research report on Monday, November 13th. Robert W. Baird lowered Farmland Partners from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $10.00 to $9.00 in a research report on Tuesday, August 15th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $9.25 price objective (down from $10.00) on shares of Farmland Partners in a research report on Monday, September 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $9.96.
Institutional investors and hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. bought a new position in Farmland Partners during the first quarter worth about $136,000. Raymond James Financial Services Advisors Inc. boosted its holdings in Farmland Partners by 12.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 12,808 shares of the financial services provider’s stock worth $115,000 after buying an additional 1,398 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in Farmland Partners by 12.4% during the second quarter. Pinnacle Associates Ltd. now owns 13,600 shares of the financial services provider’s stock worth $122,000 after buying an additional 1,500 shares during the last quarter. Sheaff Brock Investment Advisors LLC bought a new position in Farmland Partners during the second quarter worth about $143,000. Finally, Royal Bank of Canada boosted its holdings in Farmland Partners by 31.9% during the second quarter. Royal Bank of Canada now owns 17,014 shares of the financial services provider’s stock worth $152,000 after buying an additional 4,119 shares during the last quarter. Hedge funds and other institutional investors own 41.01% of the company’s stock.
Shares of Farmland Partners (FPI) opened at $9.10 on Wednesday. The company has a market capitalization of $286.83, a PE ratio of 15.84 and a beta of 0.21. Farmland Partners has a 12-month low of $8.06 and a 12-month high of $11.76.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be issued a dividend of $0.127 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date of this dividend is Friday, December 29th. Farmland Partners’s dividend payout ratio (DPR) is currently 268.44%.
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Farmland Partners Company Profile
Farmland Partners, Inc is an internally managed real estate company. The Company owns and seeks to acquire farmland located in agricultural markets throughout North America. The Company is the sole member of the general partner of Farmland Partners Operating Partnership, LP (the Operating Partnership).
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