Farmland Partners: 2Q Earnings Snapshot
DENVER (AP) _ Farmland Partners Inc. (FPI) on Wednesday reported second-quarter earnings of $860,000.
The Denver-based company said it had net income of 7 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The real estate investment trust specializing in farmland posted revenue of $11.4 million in the period.
Farmland Partners expects full-year earnings in the range of 30 cents to 34 cents per share.
Farmland Partners shares have dropped 24 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.62, a decline of 25 percent in the last 12 months.