Farmland Partners Inc. (NYSE:FPI) Expected to Earn FY2023 Earnings of $0.12 Per Share

Farmland Partners Inc. (NYSE:FPIFree Report) – Research analysts at Roth Capital issued their FY2023 earnings estimates for shares of Farmland Partners in a report released on Thursday, February 8th. Roth Capital analyst S. Fortune forecasts that the financial services provider will post earnings per share of $0.12 for the year. Roth Capital currently has a “Buy” rating on the stock. The consensus estimate for Farmland Partners’ current full-year earnings is $0.12 per share. Roth Capital also issued estimates for Farmland Partners’ Q4 2023 earnings at $0.16 EPS, Q2 2024 earnings at ($0.02) EPS and FY2024 earnings at $0.07 EPS.

Separately, 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 Tuesday, December 26th.

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Farmland Partners Price Performance

Shares of FPI stock opened at $11.42 on Monday. Farmland Partners has a 1-year low of $9.44 and a 1-year high of $13.27. The firm has a fifty day moving average of $11.97 and a two-hundred day moving average of $11.36. The firm has a market cap of $550.33 million, a P/E ratio of 35.69 and a beta of 0.75.

Farmland Partners Increases Dividend

The firm also recently announced a None dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 29th were given a $0.21 dividend. This is an increase from Farmland Partners’s previous None dividend of $0.13. The ex-dividend date was Thursday, December 28th. Farmland Partners’s payout ratio is currently 75.00%.

Hedge Funds Weigh In On Farmland Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Farmland Partners by 6.6% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,684 shares of the financial services provider’s stock worth $173,000 after buying an additional 844 shares during the period. MetLife Investment Management LLC increased its holdings in Farmland Partners by 3.7% during the fourth quarter. MetLife Investment Management LLC now owns 24,892 shares of the financial services provider’s stock worth $310,000 after buying an additional 886 shares during the last quarter. Toroso Investments LLC increased its holdings in shares of Farmland Partners by 6.3% in the third quarter. Toroso Investments LLC now owns 20,275 shares of the financial services provider’s stock valued at $208,000 after purchasing an additional 1,207 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Farmland Partners by 1.6% in the first quarter. LPL Financial LLC now owns 76,805 shares of the financial services provider’s stock valued at $822,000 after purchasing an additional 1,224 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Farmland Partners by 7.7% in the fourth quarter. Legal & General Group Plc now owns 17,832 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 1,273 shares in the last quarter. 53.52% of the stock is owned by institutional investors.

About Farmland Partners

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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 September 30, 2023, the Company owns and/or manages approximately 178,200 acres in 20 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, North Carolina, Oklahoma, South Carolina, Texas, and Virginia.

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