Farmland Partners (NYSE:FPI) Posts Earnings Results, Beats Expectations By $0.11 EPS

Farmland Partners (NYSE:FPI) posted its quarterly earnings results on Tuesday. The financial services provider reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.11, Fidelity Earnings reports. Farmland Partners had a net margin of 30.75% and a return on equity of 5.05%. The company had revenue of $10.95 million for the quarter, compared to the consensus estimate of $11.03 million.

Shares of FPI traded up $0.06 during mid-day trading on Friday, reaching $6.41. The company had a trading volume of 170,306 shares, compared to its average volume of 200,833. The business’s 50 day moving average price is $6.47. Farmland Partners has a 1-year low of $4.45 and a 1-year high of $7.85. The company has a market cap of $216.35 million, a P/E ratio of 26.71 and a beta of 0.74.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.12%. Farmland Partners’s payout ratio is currently 83.33%.

A number of equities research analysts have recently weighed in on the stock. TheStreet downgraded shares of Farmland Partners from a “c-” rating to a “d+” rating in a research note on Thursday, June 6th. ValuEngine downgraded shares of Farmland Partners from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research downgraded shares of Farmland Partners from a “hold” rating to a “sell” rating in a research note on Thursday, July 25th.

Farmland Partners Company Profile

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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Earnings History for Farmland Partners (NYSE:FPI)

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