Farmland Partners Inc (NYSE:FPI) Expected to Post Earnings of $0.01 Per Share

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Brokerages expect Farmland Partners Inc (NYSE:FPI) to announce earnings per share (EPS) of $0.01 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Farmland Partners’ earnings. The lowest EPS estimate is ($0.01) and the highest is $0.02. Farmland Partners posted earnings of $0.02 per share in the same quarter last year, which suggests a negative year over year growth rate of 50%. The business is expected to issue its next quarterly earnings report on Monday, November 4th.

According to Zacks, analysts expect that Farmland Partners will report full-year earnings of $0.18 per share for the current year, with EPS estimates ranging from $0.16 to $0.20. For the next fiscal year, analysts forecast that the firm will post earnings of $0.27 per share, with EPS estimates ranging from $0.21 to $0.32. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Farmland Partners.

Farmland Partners (NYSE:FPI) last announced its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.11. The firm had revenue of $10.95 million during the quarter, compared to analysts’ expectations of $11.03 million. Farmland Partners had a net margin of 30.75% and a return on equity of 5.13%.

FPI has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Farmland Partners from a “hold” rating to a “sell” rating in a report on Thursday, July 25th. TheStreet lowered shares of Farmland Partners from a “c-” rating to a “d+” rating in a research report on Thursday, June 6th. Finally, ValuEngine lowered shares of Farmland Partners from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.

Several institutional investors and hedge funds have recently modified their holdings of the company. Stifel Financial Corp increased its holdings in Farmland Partners by 10.9% in the fourth quarter. Stifel Financial Corp now owns 85,700 shares of the financial services provider’s stock worth $390,000 after buying an additional 8,400 shares during the last quarter. Two Sigma Advisers LP acquired a new position in Farmland Partners in the fourth quarter worth approximately $62,000. Ellis Investment Partners LLC acquired a new position in Farmland Partners in the first quarter worth approximately $28,000. Clark Capital Management Group Inc. increased its holdings in Farmland Partners by 15.3% in the first quarter. Clark Capital Management Group Inc. now owns 241,978 shares of the financial services provider’s stock worth $1,549,000 after buying an additional 32,089 shares during the last quarter. Finally, Sawtooth Solutions LLC acquired a new position in Farmland Partners during the first quarter valued at approximately $115,000. Institutional investors own 45.83% of the company’s stock.

Shares of FPI stock opened at $6.28 on Tuesday. The stock has a market cap of $190.94 million, a price-to-earnings ratio of 26.17 and a beta of 0.74. Farmland Partners has a fifty-two week low of $4.45 and a fifty-two week high of $7.85. The firm’s 50 day moving average price is $6.42 and its two-hundred day moving average price is $6.20.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued 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 3.18%. Farmland Partners’s dividend payout ratio is 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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