Farmland Partners Inc reports results for the quarter ended in March - Earnings Summary

Farmland Partners

01/05/2024 10:58

* Farmland Partners Inc  FPI.N  reported quarterly adjusted
earnings of 1 cent​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of 2 cents.  The mean expectation of four analysts for the
quarter was for a loss of 4 cents per share. Wall Street
expected results to range from -4 cents to -3 cents per share.
    * Revenue fell 5.4% to $11.99 million from a year ago;
analysts
expected $12.15 million. 
    * Farmland Partners Inc's reported EPS for the quarter was 1
cent​.
    * The company reported quarterly net income of $606
thousand.
    * Farmland Partners Inc shares had fallen by 3.1% this
quarter and
lost 13.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 220%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the specialized
reits
peer group is also "buy"

Wall Street's median 12-month price target for Farmland Partners
Inc is $13.00 
This summary was machine generated from LSEG data May 1 at 09:58
a.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.00           0.06           Beat
 Dec. 31 2023      0.17           0.16           Missed
 Sep. 30 2023      0.00           -0.01          Missed
 Jun. 30 2023      0.01           -0.02          Missed