Farmland Partners Inc. to Issue Quarterly Dividend of $0.06 (NYSE:FPI)

Farmland Partners Inc. (NYSE:FPI) announced a quarterly dividend on Wednesday, July 24th, Zacks reports. Stockholders of record on Tuesday, October 1st will be paid a dividend of 0.06 per share by the financial services provider on Tuesday, October 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Tuesday, October 1st.

Farmland Partners has raised its dividend by an average of 47.1% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Farmland Partners has a dividend payout ratio of 600.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Farmland Partners to earn $0.17 per share next year, which means the company may not be able to cover its $0.24 annual dividend with an expected future payout ratio of 141.2%.

Farmland Partners Stock Performance

NYSE FPI opened at $10.47 on Friday. The business’s fifty day moving average is $10.33 and its 200 day moving average is $10.81. The company has a market capitalization of $504.31 million, a PE ratio of 20.53 and a beta of 0.71. Farmland Partners has a fifty-two week low of $9.70 and a fifty-two week high of $13.12.

Farmland Partners (NYSE:FPI) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). Farmland Partners had a net margin of 36.89% and a return on equity of 3.97%. The company had revenue of $11.45 million for the quarter, compared to the consensus estimate of $11.84 million. During the same quarter last year, the firm posted ($0.02) earnings per share. On average, sell-side analysts forecast that Farmland Partners will post 0.18 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Farmland Partners from a “hold” rating to a “sell” rating in a research report on Thursday, July 25th.

Insider Activity

In other Farmland Partners news, Director John A. Good bought 24,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $10.15 per share, for a total transaction of $243,600.00. Following the completion of the transaction, the director now owns 86,465 shares of the company’s stock, valued at approximately $877,619.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.30% of the company’s stock.

Farmland Partners Company Profile

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 December 31, 2023, the Company owns and/or manages approximately 171,100 acres in 16 states, including Arkansas, California, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Nebraska, North Carolina, Oklahoma, South Carolina and Texas.