Farmland Partners (FPI) Expected to Post Quarterly Sales of $12.30 Million

Wall Street brokerages expect Farmland Partners (NYSE:FPI) to post sales of $12.30 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Farmland Partners’ earnings. The lowest sales estimate is $11.94 million and the highest is $12.65 million. Farmland Partners posted sales of $11.46 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.3%. The firm is expected to issue its next earnings results on Wednesday, July 18th.

According to Zacks, analysts expect that Farmland Partners will report full year sales of $59.58 million for the current financial year, with estimates ranging from $58.99 million to $60.16 million. For the next year, analysts expect that the business will report sales of $61.84 million per share, with estimates ranging from $61.77 million to $61.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Farmland Partners.

Farmland Partners (NYSE:FPI) last issued its quarterly earnings data on Wednesday, May 9th. The financial services provider reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The company had revenue of $11.21 million during the quarter, compared to analysts’ expectations of $10.96 million. Farmland Partners had a return on equity of 2.68% and a net margin of 19.85%.

A number of analysts recently commented on FPI shares. ValuEngine downgraded Farmland Partners from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Zacks Investment Research downgraded Farmland Partners from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Janney Montgomery Scott downgraded Farmland Partners from a “buy” rating to a “neutral” rating and set a $9.00 price target for the company. in a research report on Friday, March 16th. Finally, B. Riley reaffirmed a “hold” rating and set a $9.00 price target on shares of Farmland Partners in a research report on Monday, March 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $9.00.

In other Farmland Partners news, CEO Paul A. Pittman purchased 5,252 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The stock was bought at an average cost of $7.71 per share, with a total value of $40,492.92. Following the completion of the transaction, the chief executive officer now owns 1,178,286 shares of the company’s stock, valued at approximately $9,084,585.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 15,665 shares of company stock valued at $129,615 over the last ninety days. 2.76% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. MetLife Investment Advisors LLC purchased a new stake in shares of Farmland Partners during the fourth quarter valued at approximately $115,000. Oppenheimer & Co. Inc. bought a new position in Farmland Partners during the fourth quarter valued at $127,000. Barclays PLC grew its holdings in Farmland Partners by 95.1% during the first quarter. Barclays PLC now owns 18,530 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 9,034 shares during the period. Citadel Advisors LLC grew its holdings in Farmland Partners by 49.2% during the fourth quarter. Citadel Advisors LLC now owns 23,873 shares of the financial services provider’s stock valued at $207,000 after purchasing an additional 7,873 shares during the period. Finally, Sheaff Brock Investment Advisors LLC grew its holdings in Farmland Partners by 62.5% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 26,000 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 10,000 shares during the period. 46.52% of the stock is owned by institutional investors.

Shares of Farmland Partners traded up $0.12, hitting $8.21, on Thursday, MarketBeat Ratings reports. The company had a trading volume of 280,226 shares, compared to its average volume of 218,182. The company has a market cap of $269.85 million, a PE ratio of 22.81 and a beta of 0.09. Farmland Partners has a 1 year low of $7.15 and a 1 year high of $10.09.

The firm also recently declared 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 6.19%. The ex-dividend date is Friday, June 29th. Farmland Partners’s payout ratio is 141.67%.

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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