Farmland Partners (NYSE:FPI) Announces Quarterly Earnings Results

Farmland Partners (NYSE:FPI) issued its earnings results on Wednesday. The financial services provider reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.37), FiscalAI reports. The firm had revenue of $9.78 million during the quarter, compared to analysts’ expectations of $5.98 million. Farmland Partners had a return on equity of 5.54% and a net margin of 49.85%.

Farmland Partners Price Performance

NYSE:FPI traded down $1.15 during mid-day trading on Thursday, reaching $8.98. 1,165,254 shares of the company’s stock traded hands, compared to its average volume of 522,221. The company has a 50 day moving average price of $10.56 and a 200-day moving average price of $10.73. The firm has a market capitalization of $392.02 million, a price-to-earnings ratio of 17.73 and a beta of 0.68. Farmland Partners has a 12-month low of $8.56 and a 12-month high of $13.23.

Farmland Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, January 4th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Monday, January 4th. Farmland Partners’s payout ratio is currently 70.59%.

Wall Street Analysts Forecast Growth

FPI has been the subject of a number of research reports. Wall Street Zen raised shares of Farmland Partners from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. Weiss Ratings upgraded shares of Farmland Partners from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. Four equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company currently has an average rating of “Hold”.

Farmland Partners Company Profile

Farmland Partners Inc is a real estate investment trust (REIT) that owns and manages agricultural land in the United States. The company leases its farmland to farmers and agricultural operators, who use the properties to grow crops and conduct related farming activities.

Farmland Partners’ portfolio is primarily focused on high-quality farmland used to produce major row crops, including corn, soybeans, wheat and cotton, as well as specialty crops in selected markets. Its properties are located across a range of prominent agricultural regions, providing exposure to diverse soil types, growing conditions and crop economies.

Founded in 2013 and headquartered in Denver, Colorado, Farmland Partners became a publicly traded company on the New York Stock Exchange in 2014.