Farmland Partners (NYSE:FPI – Get Free Report) announced its quarterly earnings results on Wednesday. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07), Zacks reports. Farmland Partners had a return on equity of 5.78% and a net margin of 53.91%. The firm had revenue of $11.45 million during the quarter, compared to the consensus estimate of $11.84 million. During the same period last year, the business earned ($0.02) EPS. Farmland Partners updated its FY 2024 guidance to 0.200-0.260 EPS.
Farmland Partners Price Performance
Farmland Partners stock traded down $0.78 during mid-day trading on Thursday, reaching $10.57. 1,137,662 shares of the company traded hands, compared to its average volume of 326,849. The firm’s 50 day moving average price is $11.27 and its 200 day moving average price is $11.14. Farmland Partners has a 52-week low of $9.95 and a 52-week high of $13.27. The firm has a market capitalization of $509.16 million, a price-to-earnings ratio of 20.73 and a beta of 0.71.
Farmland Partners Dividend Announcement
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 2.27%. The ex-dividend date was Monday, July 1st. Farmland Partners’s dividend payout ratio (DPR) is currently 47.06%.
Wall Street Analysts Forecast Growth
Check Out Our Latest Research Report on FPI
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.
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