Farmland Partners (NYSE:FPI) Releases Quarterly Earnings Results, Misses Estimates By $0.37 EPS

Farmland Partners (NYSE:FPI) released its quarterly earnings data on Wednesday. The financial services provider reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.37), FiscalAI reports. The company had revenue of $9.78 million for the quarter, compared to analysts’ expectations of $5.98 million. Farmland Partners had a net margin of 19.47% and a return on equity of 2.09%.

Farmland Partners Trading Down 4.4%

Shares of FPI traded down $0.39 during midday trading on Friday, reaching $8.41. 1,196,392 shares of the company were exchanged, compared to its average volume of 532,787. Farmland Partners has a 1-year low of $8.35 and a 1-year high of $13.23. The company has a market cap of $367.15 million, a price-to-earnings ratio of 56.04 and a beta of 0.68. The stock has a 50-day moving average price of $10.54 and a 200-day moving average price of $10.72.

Farmland Partners Announces Dividend

The firm also recently announced 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. The ex-dividend date is Monday, January 4th. This represents a $0.36 annualized dividend and a dividend yield of 4.3%. Farmland Partners’s payout ratio is presently 70.59%.

Wall Street Analyst Weigh In

Several research firms have weighed in on FPI. Weiss Ratings upgraded shares of Farmland Partners from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. Wall Street Zen raised Farmland Partners from a “sell” rating to a “hold” rating in a report on Saturday, October 3rd. Four investment analysts have rated the stock with a Hold rating. According to MarketBeat, Farmland Partners presently has a consensus rating of “Hold”.

About Farmland Partners

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.