Farmland Partners (NYSE:FPI) Issues Quarterly Earnings Results, Misses Estimates By $0.37 EPS

Key Points

• Farmland Partners reported a quarterly loss of $0.36 per share, missing analyst expectations of $0.01 EPS by $0.37.
• Quarterly revenue totaled $9.78 million, well above the $5.98 million analyst consensus; the company reported a 49.85% net margin and 5.54% return on equity.
• Shares fell $0.20 to $10.12 following the results. Analysts maintain a consensus “Hold” rating, with all four covering analysts rating the stock Hold.

Farmland Partners (NYSE:FPI - Get Free Report) issued its quarterly earnings results on Wednesday. The financial services provider reported ($0.36) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.37), FiscalAI reports. The business had revenue of $9.78 million during the quarter, compared to analyst estimates of $5.98 million. Farmland Partners had a return on equity of 5.54% and a net margin of 49.85%.

Farmland Partners Stock Performance

NYSE FPI traded down $0.20 during trading hours on Wednesday, reaching $10.12. The stock had a trading volume of 471,018 shares, compared to its average volume of 518,541. The stock has a fifty day moving average of $10.56 and a 200 day moving average of $10.73. The stock has a market cap of $441.76 million, a P/E ratio of 19.85 and a beta of 0.68. Farmland Partners has a 52-week low of $9.21 and a 52-week high of $13.23.

Analyst Ratings Changes

FPI has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Farmland Partners from a "sell" rating to a "hold" rating in a research note on Saturday, October 3rd. Weiss Ratings upgraded shares of Farmland Partners from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 12th. Four research analysts have rated the stock with a Hold rating. According to MarketBeat, the stock currently has an average rating of "Hold".

About Farmland Partners

Farmland Partners Inc is a real estate investment trust (REIT) that owns and manages agricultural land in the United States. The company leases its farmland to farmers and agricultural operators, who use the properties to grow crops and conduct related farming activities.

Farmland Partners' portfolio is primarily focused on high-quality farmland used to produce major row crops, including corn, soybeans, wheat and cotton, as well as specialty crops in selected markets. Its properties are located across a range of prominent agricultural regions, providing exposure to diverse soil types, growing conditions and crop economies.

Founded in 2013 and headquartered in Denver, Colorado, Farmland Partners became a publicly traded company on the New York Stock Exchange in 2014.

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