Wall Street analysts expect that Farmland Partners Inc (NYSE:FPI) will report $11.03 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Farmland Partners’ earnings, with the lowest sales estimate coming in at $10.77 million and the highest estimate coming in at $11.28 million. Farmland Partners reported sales of $11.42 million during the same quarter last year, which indicates a negative year-over-year growth rate of 3.4%. The business is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, August 6th.
On average, analysts expect that Farmland Partners will report full year sales of $55.87 million for the current fiscal year, with estimates ranging from $55.59 million to $56.15 million. For the next financial year, analysts forecast that the company will post sales of $55.33 million, with estimates ranging from $54.23 million to $56.42 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Farmland Partners.
Farmland Partners (NYSE:FPI) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.03). The business had revenue of $10.89 million for the quarter, compared to analysts’ expectations of $11.30 million. Farmland Partners had a return on equity of 3.47% and a net margin of 21.18%.
A number of analysts have issued reports on the stock. TheStreet lowered shares of Zumiez from a “b” rating to a “c+” rating in a research note on Thursday, June 6th. Zacks Investment Research lowered shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd.
Several institutional investors have recently made changes to their positions in FPI. Global Alpha Capital Management Ltd. grew its position in shares of Farmland Partners by 55.4% during the first quarter. Global Alpha Capital Management Ltd. now owns 1,273,344 shares of the financial services provider’s stock worth $8,149,000 after buying an additional 454,200 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of Farmland Partners during the fourth quarter worth about $1,500,000. HRT Financial LLC acquired a new position in shares of Farmland Partners during the fourth quarter worth about $366,000. Jane Street Group LLC acquired a new position in shares of Farmland Partners during the fourth quarter worth about $265,000. Finally, Marshall Wace LLP grew its position 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 worth $917,000 after buying an additional 40,745 shares in the last quarter. 45.95% of the stock is owned by institutional investors and hedge funds.
NYSE:FPI traded up $0.04 on Tuesday, reaching $6.06. 2,321 shares of the company’s stock were exchanged, compared to its average volume of 144,459. The stock has a market cap of $203.18 million, a price-to-earnings ratio of 25.31 and a beta of 0.77. The business has a fifty day simple moving average of $6.59. Farmland Partners has a 52-week low of $4.45 and a 52-week high of $7.85.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Friday, June 28th. Farmland Partners’s dividend payout ratio is presently 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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