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

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

Farmland Partners Stock Performance

NYSE FPI traded down $0.23 during trading on Wednesday, reaching $11.70. 801,030 shares of the company traded hands, compared to its average volume of 533,480. The stock’s 50 day moving average price is $10.63 and its two-hundred day moving average price is $10.49. The company has a market cap of $504.05 million, a price-to-earnings ratio of 9.75 and a beta of 0.79. Farmland Partners has a 1-year low of $9.36 and a 1-year high of $12.87.

Farmland Partners Dividend Announcement

The firm also recently declared a special dividend, which was paid on Wednesday, January 7th. Shareholders of record on Tuesday, December 23rd were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, December 23rd. Farmland Partners’s dividend payout ratio (DPR) is currently 20.00%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Farmland Partners in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Farmland Partners currently has a consensus rating of “Hold”.

Insider Activity

In related news, Director John A. Good bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was acquired at an average price of $10.20 per share, for a total transaction of $30,600.00. Following the transaction, the director directly owned 15,100 shares of the company’s stock, valued at $154,020. This represents a 24.79% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Intech Investment Management LLC boosted its stake in shares of Farmland Partners by 5.5% in the 4th quarter. Intech Investment Management LLC now owns 19,276 shares of the financial services provider’s stock valued at $187,000 after purchasing an additional 1,004 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Farmland Partners by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,322 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 1,092 shares during the last quarter. Kestra Advisory Services LLC boosted its position in Farmland Partners by 9.9% in the fourth quarter. Kestra Advisory Services LLC now owns 13,040 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,171 shares in the last quarter. Principal Securities Inc. boosted its position in Farmland Partners by 12.9% in the fourth quarter. Principal Securities Inc. now owns 15,792 shares of the financial services provider’s stock valued at $153,000 after buying an additional 1,809 shares in the last quarter. Finally, Barclays PLC grew its stake in Farmland Partners by 3.5% during the fourth quarter. Barclays PLC now owns 60,441 shares of the financial services provider’s stock worth $586,000 after buying an additional 2,051 shares during the last quarter. 58.00% of the stock is currently owned by institutional investors and hedge funds.

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.