Farmland Partners (NYSE:FPI) Releases FY 2024 Earnings Guidance

Farmland Partners (NYSE:FPI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.200-0.260 for the period, compared to the consensus estimate of 0.250. The company issued revenue guidance of -.

Farmland Partners Stock Performance

Shares of NYSE FPI traded down $0.11 during trading on Friday, reaching $10.46. The stock had a trading volume of 363,161 shares, compared to its average volume of 327,110. The stock has a market cap of $503.86 million, a PE ratio of 20.73 and a beta of 0.71. The firm’s 50 day moving average price is $11.26 and its two-hundred day moving average price is $11.14. Farmland Partners has a one year low of $9.95 and a one year high of $13.27.

Farmland Partners (NYSE:FPI) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). The company had revenue of $11.45 million for the quarter, compared to the consensus estimate of $11.84 million. Farmland Partners had a return on equity of 3.96% and a net margin of 36.89%. During the same quarter in the previous year, the company earned ($0.02) earnings per share. On average, research analysts expect that Farmland Partners will post 0.19 earnings per share for the current year.

Farmland Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.06 dividend. 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 payout ratio is 47.06%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Farmland Partners from a hold rating to a sell rating in a report on Thursday.

About Farmland Partners

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.