Farmland Partners (NYSE:FPI) Issues Earnings Results, Misses Expectations By $0.07 EPS

Farmland Partners (NYSE:FPI) 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

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

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.