Farmland Partners (NYSE:FPI) Trading Down 4.8% Following Weak Earnings

Farmland Partners Inc. (NYSE:FPI)’s stock price dropped 4.8% during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $10.72 and last traded at $10.81. Approximately 208,812 shares were traded during trading, a decline of 35% from the average daily volume of 319,758 shares. The stock had previously closed at $11.35.

The financial services provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). The firm had revenue of $11.45 million for the quarter, compared to analysts’ expectations of $11.84 million. Farmland Partners had a return on equity of 5.78% and a net margin of 53.91%. During the same quarter in the prior year, the company posted ($0.02) earnings per share.

Farmland Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.23%. The ex-dividend date was Monday, July 1st. Farmland Partners’s dividend payout ratio (DPR) is currently 47.06%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Farmland Partners from a “sell” rating to a “hold” rating in a research note on Monday, July 15th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new position in Farmland Partners in the first quarter worth $35,000. EntryPoint Capital LLC increased its position in Farmland Partners by 68.9% during the 1st quarter. EntryPoint Capital LLC now owns 4,801 shares of the financial services provider’s stock valued at $53,000 after buying an additional 1,959 shares in the last quarter. SG Americas Securities LLC purchased a new position in Farmland Partners during the second quarter valued at $101,000. Principal Securities Inc. purchased a new stake in shares of Farmland Partners in the fourth quarter worth $110,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of Farmland Partners in the first quarter worth $117,000. Hedge funds and other institutional investors own 58.00% of the company’s stock.

Farmland Partners Stock Down 5.3 %

The stock has a market capitalization of $517.83 million, a P/E ratio of 22.27 and a beta of 0.71. The firm has a fifty day moving average price of $11.27 and a two-hundred day moving average price of $11.14.

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 December 31, 2023, the Company owns and/or manages approximately 171,100 acres in 16 states, including Arkansas, California, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Nebraska, North Carolina, Oklahoma, South Carolina and Texas.