Wall Street analysts expect Farmland Partners Inc. (NYSE:FPI) to post earnings of ($0.05) per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Farmland Partners’ earnings, with the lowest EPS estimate coming in at ($0.06) and the highest estimate coming in at ($0.04). Farmland Partners posted earnings of ($0.04) per share in the same quarter last year, which suggests a negative year over year growth rate of 25%. The company is scheduled to announce its next quarterly earnings results on Monday, November 8th.
According to Zacks, analysts expect that Farmland Partners will report full year earnings of $0.03 per share for the current year, with EPS estimates ranging from $0.01 to $0.06. For the next financial year, analysts expect that the business will report earnings of $0.30 per share, with EPS estimates ranging from $0.18 to $0.40. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Farmland Partners.
Farmland Partners (NYSE:FPI) last issued its quarterly earnings results on Wednesday, August 4th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.13). Farmland Partners had a return on equity of 0.16% and a net margin of 6.19%.
A number of institutional investors and hedge funds have recently made changes to their positions in FPI. BlackRock Inc. raised its position in shares of Farmland Partners by 3.1% during the 1st quarter. BlackRock Inc. now owns 2,022,021 shares of the financial services provider’s stock worth $22,666,000 after purchasing an additional 60,669 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Farmland Partners by 9.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,271,062 shares of the financial services provider’s stock valued at $15,317,000 after buying an additional 111,215 shares during the period. State Street Corp grew its stake in shares of Farmland Partners by 6.1% during the 2nd quarter. State Street Corp now owns 544,151 shares of the financial services provider’s stock valued at $6,584,000 after buying an additional 31,388 shares during the period. Geode Capital Management LLC boosted its position in Farmland Partners by 6.2% during the 1st quarter. Geode Capital Management LLC now owns 518,646 shares of the financial services provider’s stock worth $5,814,000 after purchasing an additional 30,090 shares during the period. Finally, Tocqueville Asset Management L.P. boosted its position in Farmland Partners by 7.1% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 402,955 shares of the financial services provider’s stock worth $4,856,000 after purchasing an additional 26,600 shares during the period. 41.24% of the stock is currently owned by institutional investors.
Shares of NYSE:FPI opened at $12.92 on Friday. Farmland Partners has a 12-month low of $6.27 and a 12-month high of $14.85. The business’s fifty day simple moving average is $12.30 and its 200-day simple moving average is $12.56. The company has a market capitalization of $424.03 million, a PE ratio of -53.83 and a beta of 0.88.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Friday, October 1st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Thursday, September 30th. Farmland Partners’s payout ratio is 333.33%.
About Farmland Partners
Farmland Partners, Inc operates as a real estate investment trust. The firm engages in the management and acquisition of farmland and land with agricultural development potential. Its property portfolio focuses on the primary crops, such as corn, soybeans, wheat, rice and cotton and the remaining land is used to grow specialty crops, such as almond, citrus, blueberries, vegetables and edible beans.
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