Farmland Partners Inc (NYSE:FPI) – Stock analysts at B. Riley cut their Q1 2019 EPS estimates for Farmland Partners in a report released on Tuesday, November 13th. B. Riley analyst C. Kucera now forecasts that the financial services provider will post earnings per share of ($0.03) for the quarter, down from their previous estimate of ($0.01). B. Riley has a “Neutral” rating and a $7.50 price objective on the stock. B. Riley also issued estimates for Farmland Partners’ Q2 2019 earnings at ($0.03) EPS.
Farmland Partners (NYSE:FPI) last issued its quarterly earnings data on Monday, November 5th. The financial services provider reported $0.02 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.02. The business had revenue of $12.55 million for the quarter, compared to analyst estimates of $12.76 million. Farmland Partners had a return on equity of 2.98% and a net margin of 20.85%.
Shares of NYSE FPI opened at $6.67 on Friday. The stock has a market cap of $227.86 million, a PE ratio of 18.53 and a beta of -0.05. Farmland Partners has a 52 week low of $5.15 and a 52 week high of $9.68.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brookfield Asset Management Inc. lifted its position in shares of Farmland Partners by 51.1% in the 3rd quarter. Brookfield Asset Management Inc. now owns 213,000 shares of the financial services provider’s stock worth $1,427,000 after acquiring an additional 72,000 shares during the period. Vertex One Asset Management Inc. bought a new stake in shares of Farmland Partners in the 3rd quarter worth approximately $470,000. JPMorgan Chase & Co. lifted its position in shares of Farmland Partners by 1,267.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 121,587 shares of the financial services provider’s stock worth $814,000 after acquiring an additional 112,697 shares during the period. Goelzer Investment Management Inc. bought a new stake in shares of Farmland Partners in the 3rd quarter worth approximately $129,000. Finally, Virtu Financial LLC lifted its position in shares of Farmland Partners by 90.4% in the 3rd quarter. Virtu Financial LLC now owns 27,781 shares of the financial services provider’s stock worth $186,000 after acquiring an additional 13,188 shares during the period. 49.32% of the stock is currently owned by hedge funds and other institutional investors.
In other Farmland Partners news, Director Chris A. Downey bought 15,395 shares of the stock in a transaction on Monday, October 15th. The shares were purchased at an average price of $6.27 per share, with a total value of $96,526.65. Following the acquisition, the director now directly owns 7,386 shares of the company’s stock, valued at approximately $46,310.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Paul A. Pittman bought 8,800 shares of the stock in a transaction on Wednesday, October 10th. The stock was acquired at an average cost of $6.22 per share, for a total transaction of $54,736.00. Following the acquisition, the chief executive officer now directly owns 1,229,521 shares in the company, valued at $7,647,620.62. The disclosure for this purchase can be found here. Insiders acquired a total of 44,030 shares of company stock worth $284,976 in the last ninety days. Insiders own 2.76% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Tuesday, January 1st will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Friday, December 28th. Farmland Partners’s dividend payout ratio (DPR) is currently 55.56%.
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 the date of this release, the Company owns over 165,000 acres in 17 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota, Texas and Virginia.
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