Farmland Partners (NYSE:FPI) Announces Quarterly Earnings Results

Farmland Partners (NYSE:FPI) released its earnings results on Wednesday. The financial services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07), Zacks reports. The company had revenue of $11.45 million for the quarter, compared to analyst estimates of $11.84 million. Farmland Partners had a net margin of 36.89% and a return on equity of 3.96%. During the same period in the previous year, the business posted ($0.02) EPS. Farmland Partners updated its FY 2024 guidance to 0.200-0.260 EPS.

Farmland Partners Stock Down 0.9 %

FPI traded down $0.10 during trading on Friday, reaching $10.47. 245,546 shares of the company’s stock were exchanged, compared to its average volume of 326,287. Farmland Partners has a fifty-two week low of $9.95 and a fifty-two week high of $13.27. The business has a 50 day moving average price of $11.26 and a 200 day moving average price of $11.14. The company has a market capitalization of $504.34 million, a P/E ratio of 20.73 and a beta of 0.71.

Farmland Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Tuesday, October 1st. Farmland Partners’s dividend payout ratio (DPR) is currently 47.06%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Farmland Partners from a “hold” rating to a “sell” rating in a research note on Thursday.

Farmland Partners Company Profile

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.