Farmland Partners (NYSE:FPI – Get Free Report) 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
Check Out Our Latest Stock Report on FPI
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.
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