Farmland Partners (FPI) Expected to Announce Quarterly Sales of $11.71 Million

Brokerages expect that Farmland Partners (NYSE:FPI) will post sales of $11.71 million for the current quarter, according to Zacks. Three analysts have issued estimates for Farmland Partners’ earnings. The highest sales estimate is $13.20 million and the lowest is $10.31 million. Farmland Partners reported sales of $7.15 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 63.8%. The company is expected to announce its next earnings results on Monday, May 14th.

On average, analysts expect that Farmland Partners will report full-year sales of $59.64 million for the current financial year, with estimates ranging from $58.99 million to $60.60 million. For the next year, analysts forecast that the business will report sales of $62.00 million per share, with estimates ranging from $61.32 million to $62.90 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Farmland Partners.

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Farmland Partners (NYSE:FPI) last released its quarterly earnings data on Thursday, March 1st. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.06). Farmland Partners had a net margin of 17.12% and a return on equity of 2.08%. The firm had revenue of $15.56 million during the quarter, compared to analyst estimates of $15.76 million.

Several analysts recently commented on FPI shares. B. Riley reduced their target price on Farmland Partners from $10.00 to $8.50 and set a “neutral” rating on the stock in a report on Tuesday, March 6th. Zacks Investment Research upgraded Farmland Partners from a “hold” rating to a “buy” rating and set a $9.75 target price on the stock in a report on Tuesday, January 16th. ValuEngine cut Farmland Partners from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Finally, Janney Montgomery Scott cut Farmland Partners from a “buy” rating to a “neutral” rating and set a $9.00 price target on the stock. in a report on Friday, March 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $9.13.

FPI stock remained flat at $$8.04 during trading on Thursday. The company had a trading volume of 237,992 shares, compared to its average volume of 247,482. Farmland Partners has a 1-year low of $7.15 and a 1-year high of $11.15. The company has a market capitalization of $268.01, a PE ratio of 22.33 and a beta of 0.08.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be issued a dividend of $0.127 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date is Thursday, March 29th. Farmland Partners’s payout ratio is 141.67%.

Several institutional investors and hedge funds have recently modified their holdings of FPI. North Star Investment Management Corp. lifted its holdings in shares of Farmland Partners by 10.2% in the 4th quarter. North Star Investment Management Corp. now owns 198,075 shares of the financial services provider’s stock worth $1,719,000 after purchasing an additional 18,415 shares in the last quarter. Wells Fargo & Company MN raised its position in Farmland Partners by 7.4% in the 3rd quarter. Wells Fargo & Company MN now owns 541,388 shares of the financial services provider’s stock valued at $4,894,000 after buying an additional 37,371 shares during the last quarter. Garner Asset Management Corp raised its position in Farmland Partners by 35.9% in the 4th quarter. Garner Asset Management Corp now owns 149,757 shares of the financial services provider’s stock valued at $1,300,000 after buying an additional 39,566 shares during the last quarter. GSA Capital Partners LLP raised its position in Farmland Partners by 132.5% in the 3rd quarter. GSA Capital Partners LLP now owns 105,100 shares of the financial services provider’s stock valued at $950,000 after buying an additional 59,900 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in Farmland Partners by 50.4% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 168,677 shares of the financial services provider’s stock valued at $1,525,000 after buying an additional 56,543 shares during the last quarter. Institutional investors own 45.80% of the company’s stock.

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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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Earnings History and Estimates for Farmland Partners (NYSE:FPI)

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