Equities research analysts forecast that Farmland Partners Inc (NYSE:FPI) will post $11.15 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Farmland Partners’ earnings. The highest sales estimate is $11.53 million and the lowest is $10.77 million. Farmland Partners posted sales of $11.42 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.4%. The company is scheduled to issue its next quarterly earnings results on Wednesday, August 14th.
On average, analysts expect that Farmland Partners will report full-year sales of $56.62 million for the current year, with estimates ranging from $55.59 million to $57.65 million. For the next year, analysts expect that the company will post sales of $56.21 million, with estimates ranging from $54.23 million to $58.18 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Farmland Partners.
Farmland Partners (NYSE:FPI) last released its earnings results on Wednesday, May 8th. The financial services provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). Farmland Partners had a return on equity of 3.47% and a net margin of 21.18%. The business had revenue of $10.89 million for the quarter, compared to the consensus estimate of $11.30 million.
FPI has been the subject of a number of research reports. TheStreet cut Farmland Partners from a “c-” rating to a “d+” rating in a research note on Thursday, June 6th. Zacks Investment Research upgraded Farmland Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $7.50.
Institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace LLP raised its stake in shares of Farmland Partners by 39.8% during the first quarter. Marshall Wace LLP now owns 143,244 shares of the financial services provider’s stock valued at $917,000 after acquiring an additional 40,745 shares during the last quarter. Financial Advocates Investment Management acquired a new position in Farmland Partners in the first quarter valued at about $99,000. Geode Capital Management LLC lifted its position in Farmland Partners by 4.1% in the first quarter. Geode Capital Management LLC now owns 414,984 shares of the financial services provider’s stock valued at $2,655,000 after buying an additional 16,217 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Farmland Partners in the first quarter valued at about $239,000. Finally, Sawtooth Solutions LLC acquired a new position in Farmland Partners in the first quarter valued at about $115,000. Institutional investors own 46.09% of the company’s stock.
NYSE FPI traded down $0.14 on Friday, hitting $6.35. 219,000 shares of the company’s stock were exchanged, compared to its average volume of 206,569. Farmland Partners has a 52 week low of $4.45 and a 52 week high of $9.19. The stock has a market capitalization of $218.04 million, a PE ratio of 26.46 and a beta of 0.67.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Friday, June 28th. Farmland Partners’s payout ratio is 83.33%.
About Farmland Partners
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 162,000 acres in 17 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota, Texas and Virginia.
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