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

Farmland Partners (NYSE:FPI) announced its earnings results on Wednesday. The financial services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07), Zacks reports. The business had revenue of $11.45 million for the quarter, compared to analyst estimates of $11.84 million. Farmland Partners had a net margin of 36.89% and a return on equity of 3.96%. During the same quarter in the prior year, the business earned ($0.02) earnings per share. Farmland Partners updated its FY 2024 guidance to 0.200-0.260 EPS.

Farmland Partners Price Performance

Shares of Farmland Partners stock opened at $10.48 on Friday. The business has a 50-day moving average of $11.24 and a 200-day moving average of $11.13. The company has a market capitalization of $504.82 million, a PE ratio of 20.55 and a beta of 0.71. Farmland Partners has a 1-year low of $9.95 and a 1-year high of $13.27.

Farmland Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.24 annualized dividend and a dividend yield of 2.29%. Farmland Partners’s dividend payout ratio is presently 47.06%.

Analyst Ratings Changes

Separately, StockNews.com downgraded Farmland Partners from a “hold” rating to a “sell” rating in a research note on Thursday.

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 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.