Farmland Partners (NYSE:FPI) Releases Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Farmland Partners (NYSE:FPI) released its quarterly earnings results on Wednesday. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.23, FiscalAI reports. Farmland Partners had a return on equity of 14.37% and a net margin of 130.10%.The business had revenue of $20.72 million for the quarter, compared to analyst estimates of $17.14 million.

Farmland Partners Price Performance

Shares of FPI stock traded down $0.23 on Wednesday, reaching $11.70. 801,030 shares of the stock were exchanged, compared to its average volume of 533,480. Farmland Partners has a one year low of $9.36 and a one year high of $12.87. The stock has a market cap of $504.05 million, a PE ratio of 9.75 and a beta of 0.79. The stock has a 50 day moving average price of $10.63 and a 200 day moving average price of $10.49.

Farmland Partners Announces Dividend

The company also recently announced a special dividend, which was paid on Wednesday, January 7th. Stockholders of record on Tuesday, December 23rd were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, December 23rd. Farmland Partners’s payout ratio is presently 20.00%.

Insider Buying and Selling

In other Farmland Partners news, Director John A. Good bought 3,000 shares of the business’s stock in a transaction on Monday, December 15th. The shares were bought at an average cost of $10.20 per share, for a total transaction of $30,600.00. Following the transaction, the director owned 15,100 shares in the company, valued at approximately $154,020. This trade represents a 24.79% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Farmland Partners

Institutional investors and hedge funds have recently modified their holdings of the business. Advisory Services Network LLC acquired a new position in Farmland Partners in the third quarter valued at approximately $29,000. Pinnacle Holdings LLC bought a new stake in shares of Farmland Partners during the 4th quarter valued at $31,000. Tower Research Capital LLC TRC lifted its stake in shares of Farmland Partners by 218.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,209 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 2,886 shares during the period. Strs Ohio bought a new position in shares of Farmland Partners in the 1st quarter worth $96,000. Finally, Kestra Advisory Services LLC boosted its position in shares of Farmland Partners by 9.9% in the 4th quarter. Kestra Advisory Services LLC now owns 13,040 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 1,171 shares during the last quarter. 58.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Farmland Partners in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

About Farmland Partners

Farmland Partners Inc is a real estate investment trust (REIT) that acquires and manages high-quality farmland in the United States. The company’s primary business activity is the ownership of agricultural land, which it leases to farmers under various rental arrangements designed to generate stable cash rents and long-term capital appreciation. By focusing on farmland as a real asset, the company seeks to benefit from rising global demand for food, fiber and renewable fuels.

Founded in 2013 and headquartered in Scottsdale, Arizona, Farmland Partners completed its initial public offering in June 2017 and began trading on the New York Stock Exchange under the ticker FPI.