Farmland Partners Inc FPI.N reported quarterly adjusted earnings of 44 cents per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of -6 cents. The mean expectation of three analysts for the quarter was for breakeven results per share. Wall Street expected results to range from zero cents to 1 cents per share.
Revenue fell 13% to $9.96 million from a year ago; analysts expected $9.69 million.
Farmland Partners Inc's reported EPS for the quarter was 14 cents.
The company reported quarterly net income of $6.84 million.
Farmland Partners Inc shares had fallen by 1.9% this quarter and lost 4.0% so far this year.
FORECAST CHANGES
The mean earnings estimate of analysts had risen by about 85.7% 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 2 "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 $11.75, about 3.9% above its last closing price of $11.29
This summary was machine generated from LSEG data July 23 at 08:30 p.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)