Farmland Partners Inc. (FPI) To Go Ex-Dividend on March 28th

Farmland Partners Inc. (NYSE:FPIGet Free Report) declared a quarterly dividend on Wednesday, February 28th, Zacks reports. Stockholders of record on Monday, April 1st will be paid a dividend of 0.06 per share by the financial services provider on Monday, April 15th. This represents a $0.24 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Thursday, March 28th.

Farmland Partners has increased its dividend by an average of 6.3% annually over the last three years. Farmland Partners has a dividend payout ratio of 600.0% indicating that 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 $0.10 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 240.0%.

Farmland Partners Stock Performance

FPI opened at $10.86 on Tuesday. Farmland Partners has a 52 week low of $9.95 and a 52 week high of $13.27. The firm has a market capitalization of $522.91 million, a PE ratio of 20.89 and a beta of 0.77. The company has a fifty day moving average price of $11.18 and a two-hundred day moving average price of $11.34.

Institutional Investors Weigh In On Farmland Partners

Several institutional investors have recently bought and sold shares of FPI. Comerica Bank acquired a new stake in shares of Farmland Partners in the third quarter valued at approximately $39,000. Chilton Capital Management LLC acquired a new stake in Farmland Partners in the 1st quarter valued at $64,000. Federated Hermes Inc. acquired a new stake in Farmland Partners in the 3rd quarter valued at $84,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Farmland Partners during the 2nd quarter worth about $84,000. Finally, American Century Companies Inc. acquired a new position in shares of Farmland Partners during the 1st quarter worth about $108,000. Institutional investors own 58.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on FPI. Roth Capital reaffirmed a “buy” rating on shares of Farmland Partners in a research note on Thursday, February 8th. StockNews.com upgraded Farmland Partners from a “sell” rating to a “hold” rating in a report on Friday, March 8th. Finally, Raymond James boosted their price objective on Farmland Partners from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Tuesday, December 26th.

Get Our Latest Stock Analysis on FPI

About Farmland Partners

(Get Free Report)

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.

Further Reading

Dividend History for Farmland Partners (NYSE:FPI)

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