Stock Track | Farmland Partners Soars on Upbeat Q3 Earnings, Revenue Beat

Stock Track10-31

Shares of Farmland Partners Inc. (FPI) surged 5.39% on Wednesday after the farmland real estate investment trust reported better-than-expected earnings and revenue for the third quarter of 2024.

For the quarter ended September 30, FPI reported adjusted earnings per share of $0.02, exceeding analysts' average estimate of a $0.04 loss per share. This marked a decline from the same quarter last year when the company reported EPS of $0.07, but the results still beat Wall Street expectations.

Revenue for the quarter climbed 14.6% year-over-year to $13.32 million, surpassing analysts' projections of $11.93 million. The company attributed the revenue growth to higher rental income and improved operating performance across its farmland portfolio.

FPI reported quarterly net income of $1.03 million, reflecting the positive impact of the revenue increase and cost management efforts.

Analysts remain bullish on FPI, with the current average rating on the stock being a "Buy" and a median 12-month price target of $12.50. The strong quarterly performance and optimistic analyst outlook likely fueled the stock's surge on Wednesday.

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(FPI) surged 5.39% on Wednesday after the farmland real estate investment trust reported better-than-expected earnings and revenue for the third quarter of 2024.\nFor ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FPI","symbol_name":"Farmland Partners Inc","start_time":0,"source_url":"","article_id":"1173562960","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1173562960","pubTimestamp":1730382287,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Farmland Partners Inc.  surged 5.39% on Wednesday after the farmland real estate investment trust reported better-than-expected earnings and revenue for the third quarter of 2024.For the quarter ended September 30, FPI reported adjusted earnings per share of $0.02, exceeding analysts' average estimate of a $0.04 loss per share. 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