Farmland Partners (FPI) Tops Q3 FFO and Revenue Estimates

Company Performance - Farmland Partners (FPI) reported quarterly funds from operations (FFO) of $0.03 per share, exceeding the Zacks Consensus Estimate of $0.01 per share, and compared to a loss of $0.01 per share a year ago, indicating a 200% surprise in FFO [1] - The company posted revenues of $13.32 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 12.07%, compared to year-ago revenues of $11.62 million [2] - Over the last four quarters, Farmland Partners has surpassed consensus FFO estimates two times and topped consensus revenue estimates just once [2] Stock Performance - Farmland Partners shares have declined approximately 11.9% since the beginning of the year, while the S&P 500 has gained 22.3% [3] - The current consensus FFO estimate for the coming quarter is $0.15 on $20.1 million in revenues, and $0.22 on $55.42 million in revenues for the current fiscal year [7] Industry Outlook - The REIT and Equity Trust - Other industry, to which Farmland Partners belongs, is currently ranked in the top 24% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions, suggesting that investors can track these revisions for better investment decisions [5]