Zacks: Brokerages Anticipate Farmland Partners Inc. (NYSE:FPI) to Announce $0.02 EPS

Equities research analysts expect Farmland Partners Inc. (NYSE:FPIGet Rating) to post earnings per share of $0.02 for the current quarter, according to Zacks. Three analysts have issued estimates for Farmland Partners’ earnings. Farmland Partners posted earnings of ($0.05) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 140%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Farmland Partners will report full year earnings of $0.28 per share for the current year. For the next year, analysts expect that the business will post earnings of $0.36 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Farmland Partners.

Farmland Partners (NYSE:FPIGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The financial services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). Farmland Partners had a net margin of 10.44% and a return on equity of 1.39%. During the same quarter in the previous year, the company earned ($0.05) EPS.

FPI has been the subject of a number of research reports. Raymond James boosted their target price on shares of Farmland Partners from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, March 16th. B. Riley boosted their price target on shares of Farmland Partners from $13.00 to $16.00 in a research report on Monday, May 9th. StockNews.com cut shares of Farmland Partners from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Zacks Investment Research upgraded shares of Farmland Partners from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Tuesday, May 17th.

FPI traded up $0.10 during trading on Monday, hitting $14.26. 1,678 shares of the company’s stock traded hands, compared to its average volume of 548,367. Farmland Partners has a 12-month low of $10.62 and a 12-month high of $16.43. The company’s 50 day simple moving average is $14.31 and its two-hundred day simple moving average is $12.74. The stock has a market capitalization of $713.96 million, a price-to-earnings ratio of -65.18 and a beta of 0.70.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, July 1st will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.68%. This is an increase from Farmland Partners’s previous quarterly dividend of $0.05. Farmland Partners’s payout ratio is presently -90.91%.

In other Farmland Partners news, CEO Paul A. Pittman bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 25th. The shares were purchased at an average cost of $13.44 per share, for a total transaction of $26,880.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 13.60% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Raymond James & Associates grew its position in Farmland Partners by 41.2% during the 4th quarter. Raymond James & Associates now owns 129,820 shares of the financial services provider’s stock worth $1,551,000 after purchasing an additional 37,884 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Farmland Partners during the fourth quarter worth about $322,000. Taylor Frigon Capital Management LLC raised its position in Farmland Partners by 1.8% during the fourth quarter. Taylor Frigon Capital Management LLC now owns 118,391 shares of the financial services provider’s stock valued at $1,415,000 after acquiring an additional 2,061 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Farmland Partners in the fourth quarter valued at approximately $5,789,000. Finally, Two Sigma Investments LP purchased a new stake in Farmland Partners in the 3rd quarter worth approximately $496,000. 44.28% of the stock is owned by institutional investors.

Farmland Partners Company Profile (Get Rating)

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 155,000 acres in 16 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota and Virginia.

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

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