Farmland Partners Inc. (NYSE:FPI) – Analysts at FBR & Co decreased their Q2 2017 earnings per share estimates for shares of Farmland Partners in a report issued on Tuesday. FBR & Co analyst J. Levi-Ribner now expects that the financial services provider will post earnings of $0.05 per share for the quarter, down from their prior forecast of $0.08. FBR & Co has a “Market Perform” rating and a $10.00 price objective on the stock. FBR & Co also issued estimates for Farmland Partners’ FY2017 earnings at $0.28 EPS.
FPI has been the topic of a number of other research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $10.00 price target (down previously from $11.75) on shares of Farmland Partners in a report on Monday, June 19th. TheStreet upgraded shares of Farmland Partners from a “d” rating to a “c-” rating in a research note on Monday, April 10th. Zacks Investment Research upgraded shares of Farmland Partners from a “sell” rating to a “hold” rating in a research note on Friday, May 19th. Finally, Robert W. Baird lowered their price objective on shares of Farmland Partners from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $10.90.
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Farmland Partners (NYSE FPI) opened at 8.64 on Wednesday. The firm has a market cap of $277.40 million, a PE ratio of 508.24 and a beta of 0.18. The firm’s 50-day moving average price is $9.18 and its 200 day moving average price is $10.42. Farmland Partners has a 52-week low of $8.57 and a 52-week high of $11.98.
Farmland Partners (NYSE:FPI) last released its earnings results on Monday, May 8th. The financial services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.15. Farmland Partners had a return on equity of 1.68% and a net margin of 12.04%. The business had revenue of $7.15 million for the quarter, compared to analyst estimates of $9.34 million.
Institutional investors have recently bought and sold shares of the company. State Street Corp raised its position in Farmland Partners by 15.2% in the fourth quarter. State Street Corp now owns 164,945 shares of the financial services provider’s stock worth $1,842,000 after buying an additional 21,811 shares in the last quarter. Teachers Advisors LLC raised its position in Farmland Partners by 17.9% in the fourth quarter. Teachers Advisors LLC now owns 22,016 shares of the financial services provider’s stock worth $246,000 after buying an additional 3,349 shares in the last quarter. Winslow Evans & Crocker Inc. raised its position in Farmland Partners by 1,117.7% in the first quarter. Winslow Evans & Crocker Inc. now owns 23,136 shares of the financial services provider’s stock worth $258,000 after buying an additional 21,236 shares in the last quarter. Skylands Capital LLC purchased a new position in Farmland Partners during the first quarter worth approximately $502,000. Finally, Nationwide Fund Advisors raised its position in Farmland Partners by 76.5% in the first quarter. Nationwide Fund Advisors now owns 13,235 shares of the financial services provider’s stock worth $148,000 after buying an additional 5,735 shares in the last quarter. 39.16% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Paul A. Pittman acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The stock was purchased at an average price of $8.99 per share, with a total value of $44,950.00. Following the purchase, the chief executive officer now owns 545,388 shares of the company’s stock, valued at approximately $4,903,038.12. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dennie Dixon Boardman sold 65,422 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $9.84, for a total transaction of $643,752.48. Following the completion of the transaction, the director now directly owns 1,601 shares of the company’s stock, valued at approximately $15,753.84. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 19,700 shares of company stock worth $190,402. 2.76% of the stock is currently owned by company insiders.
The firm also recently declared a dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were given a $0.127 dividend. The ex-dividend date was Wednesday, June 28th. Farmland Partners’s dividend payout ratio (DPR) is 510.05%.
About Farmland Partners
Farmland Partners, Inc is an internally managed real estate company. The Company owns and seeks to acquire farmland located in agricultural markets throughout North America. The Company is the sole member of the general partner of Farmland Partners Operating Partnership, LP (the Operating Partnership).
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