$15.76 Million in Sales Expected for Farmland Partners Inc (FPI) This Quarter

Brokerages expect Farmland Partners Inc (NYSE:FPI) to post $15.76 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Farmland Partners’ earnings. The highest sales estimate is $16.60 million and the lowest is $14.98 million. Farmland Partners reported sales of $13.33 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 18.2%. The firm is scheduled to announce its next earnings results on Wednesday, February 28th.

On average, analysts expect that Farmland Partners will report full year sales of $15.76 million for the current year, with estimates ranging from $45.63 million to $47.20 million. For the next year, analysts expect that the firm will report sales of $59.72 million per share, with estimates ranging from $58.12 million to $60.60 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Farmland Partners.

Farmland Partners (NYSE:FPI) last released its quarterly earnings results on Wednesday, November 8th. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.04). Farmland Partners had a net margin of 15.89% and a return on equity of 2.05%.

FPI has been the topic of a number of analyst reports. Zacks Investment Research raised Farmland Partners from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Friday, November 24th. Raymond James Financial reaffirmed a “hold” rating on shares of Farmland Partners in a research report on Monday, December 4th. B. Riley reaffirmed a “hold” rating and set a $10.00 price objective on shares of Farmland Partners in a research report on Monday, November 13th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $9.25 price objective (down from $10.00) on shares of Farmland Partners in a research report on Monday, September 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Farmland Partners presently has a consensus rating of “Hold” and a consensus price target of $9.60.

Several hedge funds have recently bought and sold shares of FPI. Ameriprise Financial Inc. purchased a new position in Farmland Partners in the 2nd quarter worth approximately $3,529,000. Wells Fargo & Company MN lifted its holdings in Farmland Partners by 89.6% in the 2nd quarter. Wells Fargo & Company MN now owns 504,017 shares of the financial services provider’s stock worth $4,506,000 after purchasing an additional 238,140 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Farmland Partners by 8.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,326,437 shares of the financial services provider’s stock worth $11,858,000 after purchasing an additional 103,927 shares in the last quarter. State Street Corp lifted its holdings in Farmland Partners by 16.4% in the 2nd quarter. State Street Corp now owns 543,030 shares of the financial services provider’s stock worth $4,856,000 after purchasing an additional 76,673 shares in the last quarter. Finally, Garner Asset Management Corp lifted its holdings in Farmland Partners by 222.3% in the 3rd quarter. Garner Asset Management Corp now owns 110,191 shares of the financial services provider’s stock worth $996,000 after purchasing an additional 76,006 shares in the last quarter. 41.01% of the stock is currently owned by hedge funds and other institutional investors.

Farmland Partners (NYSE FPI) traded down $0.12 during trading on Thursday, hitting $8.46. The company’s stock had a trading volume of 334,600 shares, compared to its average volume of 236,182. The company has a market cap of $271.31, a P/E ratio of 44.53 and a beta of 0.21. Farmland Partners has a 1-year low of $8.06 and a 1-year high of $11.76.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd were given a dividend of $0.127 per share. The ex-dividend date was Friday, December 29th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.00%. Farmland Partners’s payout ratio is currently 268.42%.

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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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