Streetbeat News

FPI

Farmland Partners Inc.

https://www.farmlandpartners.com

Industry

REIT - Specialty

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 155,000 acres in 16 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota and Virginia. We have approximately 26 crop types and over 100 tenants. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014.

Open

12.46

Mkt cap

605M

Volume

290K

High

12.65

P/E Ratio

43.28

52-wk high

13.12

Low

12.46

Div yield

0.03

52-wk low

9.70

Farmland Partners (NYSE:FPI) reported Q4 2023 FFO of $0.16 per share, missing the $0.17 estimate, and sales of $21.59M, below the $22.29M estimate. This represents a 1.06% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 10:27 pm

The article lists companies scheduled to report their earnings on February 28, 2024, including their expected earnings per share and revenue. It covers a wide range of sectors and provides a comprehensive overview of the financial performance expectations for these companies.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 11:24 am

Raymond James analyst Buck Horne has reiterated an Outperform rating on Farmland Partners Inc (FPI) and increased the price target from $14 to $15. Despite a 10% year-over-year drop in agricultural commodity prices, U.S. farmers are experiencing strong profitability, with 2023 expected to be the third-highest year for farm income in a decade. FPI has repurchased over 11% of its shares year-to-date at $11/share and announced a special dividend of $0.21/share. The company has also completed property dispositions worth $71.1 million this quarter, with a year-to-date total of $122 million. FPI is executing a $190 million capital recycling program to leverage the difference between public valuation and private market value. Lease renewals in 2023 have seen an 18% increase year-to-date. With $163.1 million in available liquidity, FPI is well-positioned to maintain its dividend. The analyst estimates FPI's Net Asset Value/share at $16, indicating a 20% discount on the current share price, with the target price reflecting a 10% discount to NAV. FPI shares are up 1.65% at $12.97.

Portfolio Pulse from Shivani Kumaresan

December 26, 2023 | 6:51 pm

Wall Street analysts have updated their price targets and ratings for several companies. Karuna Therapeutics' target was raised but downgraded to Neutral. AlloVir's target was cut significantly and downgraded to Underperform. Farmland Partners, Huntington Bancshares, Cognizant Technology Solutions, Modine Manufacturing, and CMS Energy had their targets raised with positive ratings. Paychex and Omega Healthcare Investors had their targets cut with neutral and hold ratings, respectively. Equillium's target was slashed but maintained a Buy rating.

Portfolio Pulse from Avi Kapoor

December 26, 2023 | 1:03 pm

Raymond James analyst Buck Horne has maintained an Outperform rating on Farmland Partners (NYSE:FPI) and increased the price target from $14 to $15.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 12:19 pm

Five REITs have announced special dividends with upcoming ex-dividend dates, offering shareholders an opportunity for a larger annual yield. These REITs include Park Hotels & Resorts Inc. (PK), Host Hotels & Resorts Inc. (HST), Rayonier Inc. (RYN), SITE Centers Corp. (SITC), and Farmland Partners Inc. (FPI). Special dividends are often distributed when REITs dispose of assets with large gains. Shareholders are advised to purchase shares before the ex-dividend date to receive the special dividend, although the share price may decrease by a similar amount post-dividend.

Portfolio Pulse from Ethan Roberts

December 22, 2023 | 3:00 pm

Bill Gates, through Cascade Investment, owns approximately 242,000 acres of farmland across 19 states, making him the largest private owner of farmland in the U.S. In comparison, Farmland Partners Inc. (NYSE:FPI), the largest farmland REIT in the U.S., owns and manages a combined total of 178,216 acres of farmland. Gates owns about 63,800 more acres than Farmland Partners.

Portfolio Pulse from Chris Bibey

December 20, 2023 | 6:00 pm

Farmland Partners Inc. (FPI) has declared a one-time special dividend of $0.21 per share, payable on January 12, 2024, to shareholders of record as of December 29, 2023. This dividend declaration follows asset appreciation within the company.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 12:13 pm

Farmland Partners Inc. and Ducks Unlimited have completed a land conservation project in Virginia. The project likely enhances the environmental credentials of Farmland Partners, potentially attracting investors interested in sustainability and corporate responsibility.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 12:17 pm

Five real estate stocks with high RSI values, indicating potential overbought conditions, may face a downturn. Forestar Group (FOR) reported strong Q4 results with a 44% increase in pre-tax income. Newmark Group (NMRK) had better-than-expected Q3 results and strong guidance. CBL & Associates Properties (CBL) showed solid Q3 results with same-center NOI growth. Farmland Partners (FPI) reported a Q3 loss but highlighted the stability of US agriculture. Spirit Realty Capital (SRC) reported better-than-expected Q3 sales. All stocks have RSI values above 70, suggesting they might be overbought.

Portfolio Pulse from Lisa Levin

November 24, 2023 | 11:51 am

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