$19.35 Million in Sales Expected for Farmland Partners Inc. (NYSE:FPI) This Quarter

Analysts expect Farmland Partners Inc. (NYSE:FPI) to report $19.35 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Farmland Partners’ earnings, with estimates ranging from $18.31 million to $20.83 million. Farmland Partners reported sales of $17.92 million during the same quarter last year, which indicates a positive year over year growth rate of 8%. The business is scheduled to issue its next quarterly earnings results on Wednesday, March 16th.

According to Zacks, analysts expect that Farmland Partners will report full year sales of $51.35 million for the current year, with estimates ranging from $50.60 million to $52.53 million. For the next year, analysts forecast that the company will post sales of $54.99 million, with estimates ranging from $53.70 million to $57.39 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Farmland Partners.

Farmland Partners (NYSE:FPI) last issued its quarterly earnings results on Wednesday, October 27th. The financial services provider reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.11). Farmland Partners had a negative return on equity of 0.82% and a net margin of 0.05%. During the same period in the previous year, the business posted ($0.04) EPS.

FPI has been the topic of several research reports. Zacks Investment Research raised Farmland Partners from a “sell” rating to a “hold” rating in a research report on Thursday, August 5th. Berenberg Bank initiated coverage on Farmland Partners in a research report on Thursday, October 14th. They issued a “buy” rating and a $14.00 target price on the stock.

Shares of Farmland Partners stock traded up $0.03 during trading hours on Monday, reaching $12.19. 175,874 shares of the company’s stock were exchanged, compared to its average volume of 288,096. Farmland Partners has a 52-week low of $7.91 and a 52-week high of $14.85. The firm has a market capitalization of $400.08 million, a price-to-earnings ratio of -38.09 and a beta of 0.80. The company has a fifty day moving average of $12.14 and a 200-day moving average of $12.41.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 18th. Investors of record on Monday, January 3rd will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, December 31st. This represents a $0.20 annualized dividend and a yield of 1.64%. Farmland Partners’s dividend payout ratio is currently -62.50%.

In related news, Director John A. Good purchased 5,825 shares of the stock in a transaction that occurred on Thursday, September 30th. The stock was purchased at an average cost of $12.10 per share, for a total transaction of $70,482.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders purchased 8,825 shares of company stock valued at $108,633. 13.60% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in FPI. Firestone Capital Management acquired a new stake in shares of Farmland Partners during the second quarter valued at about $26,000. Tradewinds Capital Management LLC grew its stake in shares of Farmland Partners by 197.3% during the second quarter. Tradewinds Capital Management LLC now owns 3,779 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 2,508 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Farmland Partners by 122.7% during the third quarter. BNP Paribas Arbitrage SA now owns 7,544 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 4,156 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Farmland Partners during the second quarter valued at about $114,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Farmland Partners during the second quarter valued at about $121,000. Hedge funds and other institutional investors own 41.18% of the company’s stock.

Farmland Partners Company Profile

Farmland Partners, Inc operates as a real estate investment trust. The firm engages in the management and acquisition of farmland and land with agricultural development potential. Its property portfolio focuses on the primary crops, such as corn, soybeans, wheat, rice and cotton and the remaining land is used to grow specialty crops, such as almond, citrus, blueberries, vegetables and edible beans.

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