Farmland Partners Inc (NYSE:FPI) Expected to Announce Quarterly Sales of $19.24 Million

Equities analysts forecast that Farmland Partners Inc (NYSE:FPI) will announce sales of $19.24 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Farmland Partners’ earnings. The highest sales estimate is $21.31 million and the lowest is $16.92 million. Farmland Partners reported sales of $20.89 million during the same quarter last year, which suggests a negative year over year growth rate of 7.9%. The company is expected to announce its next earnings results on Wednesday, March 11th.

According to Zacks, analysts expect that Farmland Partners will report full year sales of $50.93 million for the current fiscal year, with estimates ranging from $48.60 million to $53.00 million. For the next fiscal year, analysts forecast that the business will report sales of $52.26 million, with estimates ranging from $49.40 million to $53.96 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Farmland Partners.

FPI has been the topic of a number of research reports. B. Riley reaffirmed a “hold” rating and issued a $7.00 price objective on shares of Farmland Partners in a research note on Thursday, November 21st. Zacks Investment Research raised Farmland Partners from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Finally, ValuEngine downgraded Farmland Partners from a “buy” rating to a “hold” rating in a research note on Friday, December 13th.

Several hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Farmland Partners by 3.8% in the 2nd quarter. BlackRock Inc. now owns 2,097,859 shares of the financial services provider’s stock worth $14,790,000 after buying an additional 75,975 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Farmland Partners by 6.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,938,922 shares of the financial services provider’s stock worth $13,147,000 after buying an additional 123,708 shares during the period. Global Alpha Capital Management Ltd. lifted its holdings in shares of Farmland Partners by 14.5% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,915,944 shares of the financial services provider’s stock worth $12,990,000 after buying an additional 243,110 shares during the period. Clark Capital Management Group Inc. lifted its holdings in shares of Farmland Partners by 2.4% in the 4th quarter. Clark Capital Management Group Inc. now owns 239,965 shares of the financial services provider’s stock worth $1,627,000 after buying an additional 5,539 shares during the period. Finally, Taylor Frigon Capital Management LLC lifted its holdings in shares of Farmland Partners by 27.1% in the 3rd quarter. Taylor Frigon Capital Management LLC now owns 217,511 shares of the financial services provider’s stock worth $1,453,000 after buying an additional 46,320 shares during the period. Institutional investors and hedge funds own 50.12% of the company’s stock.

NYSE:FPI traded up $0.14 during trading hours on Thursday, reaching $6.79. The stock had a trading volume of 91,408 shares. Farmland Partners has a 52 week low of $5.02 and a 52 week high of $7.22. The company has a 50 day moving average price of $6.72 and a two-hundred day moving average price of $6.56.

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 the date of this release, the Company owns approximately 162,000 acres in 17 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota, Texas and Virginia.

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