Stock within Traders Radar: Farmland Partners Inc. (NYSE: FPI)

On 31 August, Shares of Farmland Partners Inc. (FPI) price closed at $7.06 in the trading session. After opening the first trading session at $6.99, it registered a day’s high of $7.12 and touched a day’s low of $6.98. The last trade was registered at price of $6.99 and volume was 287,630 as compared to it’s an average volume of 486,193.

Farmland Partners Inc. (NYSE: FPI) stated financial results for the quarter ended June 30, 2018.

Financial Results

For the three months ended June 30, 2018, the Company recorded a net loss of $2.3M and a basic net loss to ordinary stockholders of $0.07 per share, as contrast to net income of $0.8M and basic net income to ordinary stockholders of $0.02 per share for the same period during 2017. For the six months ended June 30, 2018, the Company recorded a net loss of $5.1M and a basic net loss to ordinary stockholders of $0.15 per share, as contrast to a net loss of $1.8M and a basic net loss to ordinary stockholders of $0.06 per share for the same period during 2017.

For the three months ended June 30, 2018, the Company recorded Adjusted Funds from Operations (“AFFO”) of $0.2M and AFFO per fully diluted share of $0.01, as contrast to AFFO of $3.8M and AFFO per fully diluted share of $0.10 for the same period during 2017. For the six months ended June 30, 2018, the Company recorded AFFO of $0.2M and AFFO per fully diluted share of $0.01, as contrast to AFFO of $4.2M and AFFO per fully diluted share of $0.12 for the same period during 2017.

See “Non-GAAP Financial Measures” for complete definitions of AFFO and Adjusted EBITDAre and the financial tables accompanying this press release for reconciliations of net income to AFFO and Adjusted EBITDAre.

Operating Results

For the three months ended June 30, 2018, the Company recorded total operating revenues of $11.4M, as contrast to $11.5M for the same period during 2017. For the six months ended June 30, 2018, the Company recorded total operating revenues of $22.6M, as contrast to $18.6M for the same period during 2017. The decline in revenue in the second quarter of 2018 as contrast to the same period in 2017 is Because of the timing of crop share revenue recognition in connection with the AFCO acquisition and one-time lease termination fees paid in 2017, only partially offset by a $0.8M increase in farming rental revenue.

For the three months ended June 30, 2018, the Company recorded total operating income of $5.2M and net operating income (“NOI”) of $9.3M, as contrast to total operating income of $5.6M and NOI of $10.3M for the same period in 2017. For the six months ended June 30, 2018, the Company recorded total operating income of $10.0M and NOI of $18.8M, as contrast to total operating income of $6.3M and NOI of $15.6M for the same period in 2017.

Balance Sheet

As of June 30, 2018, the Company had about 37.5M shares of ordinary stock outstanding on a fully diluted basis, including Class A Ordinary OP units.

The Company had total debt outstanding of $535.6M at June 30, 2018, contrast to total debt outstanding of $515.7M at March 31, 2018.

The average true range of Farmland Partners Inc.’s (FPI) is recorded at 0.23 and the relative strength index of the stock stands 49.24. The stock price is going above to its 52 week low with 37.09% and lagging behind from its 52 week high with -27.07%. Analyst recommendation for this stock stands at 2.50. A look on the firm performance, its monthly performance is 5.22% and a quarterly performance of -17.04%. The stock price is trading downbeat from its 200 days moving average with -12.41% and down from 50 days moving average with -2.16%.

 

Eva Hopkins – Stocks News Alert

My name is Eva Hopkins and I’m 35 years old who is an entrepreneur other than a writer. I want to grab the attention of my potential readers and issuer’s, being vibrant and not too dry. I usually stay at home who relishes writing in her free time. My writing style is diversifying, I write on a variety of topics including stock market tradings, stock news Alerts and earnings but my personal favorite is lifestyle and business. I love communicating myself through artistic and innovative means such as writing, dancing, and painting. When I’m not doing any specific field related work, I enjoy spending some time with my dog, playing hockey or meeting my friends and family members.

Address: 119 Ellerbeck Road, Ellerbeck

Queensland 4816, Australia

Phone Number: +61-07- 4066-8946

Email: Eva@getnewsalert.com

Leave a Reply

Your email address will not be published. Required fields are marked *