Farmland Partners Inc. (FPI) to Issue Quarterly Dividend of $0.06 on January 15th

Farmland Partners Inc. (NYSE:FPI) announced a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Investors of record on Thursday, January 2nd will be paid a dividend of 0.06 per share by the financial services provider on Wednesday, January 15th. This represents a $0.24 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Thursday, January 2nd.

Farmland Partners has raised its dividend payment by an average of 47.1% per year over the last three years. Farmland Partners has a dividend payout ratio of 480.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Farmland Partners to earn $0.14 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 171.4%.

Farmland Partners Price Performance

NYSE:FPI opened at $11.67 on Tuesday. Farmland Partners has a one year low of $9.70 and a one year high of $12.85. The company has a market cap of $562.18 million, a PE ratio of 41.68 and a beta of 0.70. The firm’s 50 day simple moving average is $12.05 and its 200 day simple moving average is $11.19.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Farmland Partners from a “sell” rating to a “hold” rating in a report on Saturday, November 9th.

Insider Buying and Selling

In other Farmland Partners news, Director John A. Good purchased 15,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was purchased at an average cost of $12.23 per share, for a total transaction of $183,450.00. Following the acquisition, the director now owns 101,465 shares in the company, valued at approximately $1,240,916.95. The trade was a 17.35 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is owned by insiders.

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.