FY2018 EPS Estimates for Farmland Partners Inc. (NYSE:FPI) Reduced by FBR & Co
Farmland Partners Inc. (NYSE:FPI) – FBR & Co decreased their FY2018 earnings estimates for shares of Farmland Partners in a research note issued to investors on Tuesday. FBR & Co analyst J. Levi-Ribner now forecasts that the financial services provider will post earnings of $0.35 per share for the year, down from their prior forecast of $0.55. FBR & Co currently has a “Market Perform” rating and a $10.00 target price on the stock.
FPI has been the subject of a number of other research reports. Zacks Investment Research raised shares of Farmland Partners from a “sell” rating to a “hold” rating in a research report on Friday, May 19th. Robert W. Baird cut their price objective on shares of Farmland Partners from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, June 16th. Stifel Nicolaus reissued a “buy” rating and set a $10.00 price objective (down previously from $11.75) on shares of Farmland Partners in a research report on Monday, June 19th. Finally, TheStreet raised shares of Farmland Partners from a “d” rating to a “c-” rating in a research report on Monday, April 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $10.90.
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Farmland Partners (FPI) traded up 8.9644% during midday trading on Thursday, hitting $9.4799. The company’s stock had a trading volume of 331,401 shares. The firm has a market cap of $304.36 million, a P/E ratio of 557.6412 and a beta of 0.18. Farmland Partners has a 12 month low of $8.55 and a 12 month high of $11.98. The company’s 50 day moving average price is $9.14 and its 200 day moving average price is $10.41.
Farmland Partners (NYSE:FPI) last posted its earnings results on Monday, May 8th. The financial services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.15. The company had revenue of $7.15 million for the quarter, compared to analysts’ expectations of $9.34 million. Farmland Partners had a return on equity of 1.68% and a net margin of 12.04%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FPI. Sit Investment Associates Inc. boosted its position in Farmland Partners by 263.9% in the first quarter. Sit Investment Associates Inc. now owns 26,475 shares of the financial services provider’s stock worth $296,000 after buying an additional 19,200 shares during the period. North Star Investment Management Corp. boosted its position in Farmland Partners by 10.4% in the first quarter. North Star Investment Management Corp. now owns 149,031 shares of the financial services provider’s stock worth $1,665,000 after buying an additional 14,006 shares during the period. State Street Corp boosted its position in Farmland Partners by 15.2% in the fourth quarter. State Street Corp now owns 164,945 shares of the financial services provider’s stock worth $1,842,000 after buying an additional 21,811 shares during the period. Winslow Evans & Crocker Inc. boosted its position in Farmland Partners by 1,117.7% in the first quarter. Winslow Evans & Crocker Inc. now owns 23,136 shares of the financial services provider’s stock worth $258,000 after buying an additional 21,236 shares during the period. Finally, Uniplan Investment Counsel Inc. boosted its position in Farmland Partners by 4.4% in the first quarter. Uniplan Investment Counsel Inc. now owns 642,216 shares of the financial services provider’s stock worth $7,173,000 after buying an additional 26,892 shares during the period. Institutional investors own 39.16% of the company’s stock.
In other Farmland Partners news, CEO Paul A. Pittman acquired 5,000 shares of the business’s stock in a transaction dated 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 directly owns 545,388 shares in the company, valued at approximately $4,903,038.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dennie Dixon Boardman sold 65,422 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $9.84, for a total transaction of $643,752.48. Following the sale, the director now directly owns 1,601 shares of the company’s stock, valued at approximately $15,753.84. The disclosure for this sale can be found here. In the last three months, insiders have bought 19,700 shares of company stock valued at $190,402. Insiders own 2.76% of the company’s stock.
The firm also recently disclosed a dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a dividend of $0.127 per share. The ex-dividend date was Wednesday, June 28th. Farmland Partners’s payout ratio is 510.05%.
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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