Farmland Partners Inc. (FPI) to Release Quarterly Earnings on Wednesday
Farmland Partners Inc. (NYSE:FPI) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, July 19th. Analysts expect Farmland Partners to post earnings of $0.01 per share for the quarter.
Farmland Partners (NYSE:FPI) last issued its quarterly earnings data on Monday, May 8th. The financial services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.15. Farmland Partners had a return on equity of 1.68% and a net margin of 12.04%. The company had revenue of $7.15 million for the quarter, compared to analyst estimates of $9.34 million. On average, analysts expect Farmland Partners to post $0.34 EPS for the current fiscal year and $0.4 EPS for the next fiscal year.
Farmland Partners Inc. (NYSE:FPI) opened at 8.94 on Monday. The company’s 50 day moving average price is $9.54 and its 200 day moving average price is $10.62. Farmland Partners Inc. has a 12 month low of $8.57 and a 12 month high of $11.98. The firm has a market capitalization of $287.03 million, a P/E ratio of 525.88 and a beta of 0.18.
The firm also recently announced a dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were issued a dividend of $0.127 per share. The ex-dividend date was Wednesday, June 28th. Farmland Partners’s payout ratio is 510.05%.
In related news, Director Dennie Dixon Boardman sold 65,422 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $9.84, for a total value of $643,752.48. Following the completion of the sale, the director now owns 1,601 shares in the company, valued at approximately $15,753.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul A. Pittman purchased 5,000 shares of Farmland Partners stock in a transaction that occurred on Friday, June 16th. The stock was purchased at an average price of $8.99 per share, with a total value of $44,950.00. Following the transaction, the chief executive officer now owns 545,388 shares in the company, valued at approximately $4,903,038.12. The disclosure for this purchase can be found here. Insiders have purchased 19,700 shares of company stock valued at $190,402 over the last 90 days. 2.76% of the stock is currently owned by insiders.
A number of analysts recently weighed in on FPI shares. Zacks Investment Research cut shares of Farmland Partners from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 10th. TheStreet upgraded shares of Farmland Partners from a “d” rating to a “c-” rating in a report on Monday, April 10th. Stifel Nicolaus restated a “buy” rating and set a $10.00 target price (down from $11.75) on shares of Farmland Partners in a report on Monday, June 19th. Finally, Robert W. Baird reduced their target price on shares of Farmland Partners from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, June 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $11.13.
About Farmland Partners
Farmland Partners, Inc is an internally managed real estate company. The Company owns and seeks to acquire farmland located in agricultural markets throughout North America. The Company is the sole member of the general partner of Farmland Partners Operating Partnership, LP (the Operating Partnership).
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