Equities analysts predict that Farmland Partners (NYSE:FPI) will report $0.03 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Farmland Partners’ earnings. The lowest EPS estimate is $0.02 and the highest is $0.06. Farmland Partners posted earnings of $0.10 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 70%. The firm is expected to report its next earnings report on Wednesday, July 18th.
According to Zacks, analysts expect that Farmland Partners will report full-year earnings of $0.48 per share for the current year, with EPS estimates ranging from $0.40 to $0.68. For the next year, analysts forecast that the company will post earnings of $0.55 per share, with EPS estimates ranging from $0.45 to $0.76. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that that provide coverage for Farmland Partners.
Farmland Partners (NYSE:FPI) last announced its quarterly earnings data on Wednesday, May 9th. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). Farmland Partners had a net margin of 19.85% and a return on equity of 2.68%. The business had revenue of $11.21 million during the quarter, compared to analyst estimates of $10.96 million.
FPI has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Farmland Partners from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a research note on Monday, May 7th. B. Riley restated a “hold” rating and issued a $9.00 price objective on shares of Farmland Partners in a research note on Monday, March 5th. Janney Montgomery Scott cut shares of Farmland Partners from a “buy” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research note on Friday, March 16th. Finally, ValuEngine cut shares of Farmland Partners from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $9.00.
Shares of Farmland Partners traded up $0.05, reaching $8.37, during mid-day trading on Tuesday, Marketbeat.com reports. The company’s stock had a trading volume of 266,756 shares, compared to its average volume of 278,144. Farmland Partners has a 1-year low of $7.15 and a 1-year high of $10.09. The stock has a market cap of $269.85 million, a price-to-earnings ratio of 23.25 and a beta of 0.09.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Monday, July 2nd will be given a dividend of $0.127 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.07%. The ex-dividend date is Friday, June 29th. Farmland Partners’s dividend payout ratio (DPR) is currently 141.67%.
In other news, CEO Paul A. Pittman bought 5,252 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The stock was acquired at an average price of $7.71 per share, for a total transaction of $40,492.92. Following the transaction, the chief executive officer now directly owns 1,178,286 shares of the company’s stock, valued at approximately $9,084,585.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul A. Pittman bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The shares were purchased at an average price of $8.38 per share, with a total value of $25,140.00. Following the transaction, the chief executive officer now directly owns 1,181,286 shares in the company, valued at $9,899,176.68. The disclosure for this purchase can be found here. Insiders have purchased a total of 18,665 shares of company stock valued at $154,755 in the last quarter. 10.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Garner Asset Management Corp increased its position in shares of Farmland Partners by 35.9% during the 4th quarter. Garner Asset Management Corp now owns 149,757 shares of the financial services provider’s stock worth $1,300,000 after purchasing an additional 39,566 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Farmland Partners during the 4th quarter worth about $356,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Farmland Partners by 6.6% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 179,809 shares of the financial services provider’s stock worth $1,561,000 after purchasing an additional 11,132 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Farmland Partners by 19.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 70,564 shares of the financial services provider’s stock worth $613,000 after purchasing an additional 11,264 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Farmland Partners by 1,542.0% during the 4th quarter. Alliancebernstein L.P. now owns 275,850 shares of the financial services provider’s stock worth $2,394,000 after purchasing an additional 259,050 shares in the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.
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 or has under contract over 166,000 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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