Farmland Partners (FPI) Posts Quarterly Earnings Results

Farmland Partners (NYSE:FPI) released its quarterly earnings data on Wednesday. The financial services provider reported $0.09 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.13), Fidelity Earnings reports. Farmland Partners had a return on equity of 2.98% and a net margin of 20.85%. The business had revenue of $20.89 million during the quarter, compared to analysts’ expectations of $23.66 million.

FPI stock traded up $0.63 during trading on Thursday, hitting $6.01. The stock had a trading volume of 406,300 shares, compared to its average volume of 139,309. Farmland Partners has a 1-year low of $4.45 and a 1-year high of $9.19. The company has a market capitalization of $183.20 million, a price-to-earnings ratio of 16.69 and a beta of 0.61.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, March 29th. Farmland Partners’s payout ratio is 55.56%.

FPI has been the topic of several recent research reports. ValuEngine lowered shares of Farmland Partners from a “hold” rating to a “sell” rating in a research report on Friday, November 16th. Zacks Investment Research downgraded shares of Farmland Partners from a “hold” rating to a “sell” rating in a research note on Monday, November 19th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $8.25.

In related news, Director John A. Good acquired 6,250 shares of the company’s stock in a transaction dated Wednesday, December 26th. The stock was bought at an average price of $4.66 per share, with a total value of $29,125.00. Following the purchase, the director now directly owns 9,050 shares in the company, valued at approximately $42,173. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul A. Pittman acquired 11,000 shares of the company’s stock in a transaction dated Friday, December 21st. The shares were bought at an average cost of $4.82 per share, with a total value of $53,020.00. Following the purchase, the chief executive officer now owns 1,237,521 shares in the company, valued at $5,964,851.22. The disclosure for this purchase can be found here. Insiders purchased a total of 20,275 shares of company stock valued at $105,481 in the last three months. 10.10% of the stock is currently owned by corporate insiders.

A hedge fund recently raised its stake in Farmland Partners stock. Geode Capital Management LLC increased its holdings in shares of Farmland Partners Inc (NYSE:FPI) by 3.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 398,767 shares of the financial services provider’s stock after purchasing an additional 11,993 shares during the quarter. Geode Capital Management LLC owned 1.28% of Farmland Partners worth $1,810,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 46.57% of the company’s stock.

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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.

Read More: Systematic Risk

Earnings History for Farmland Partners (NYSE:FPI)

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