Farmland Partners Inc. (NYSE:FPI) Announces $0.06 Quarterly Dividend

Farmland Partners Inc. (NYSE:FPI) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Stockholders of record on Monday, July 1st will be given a dividend of 0.06 per share by the financial services provider on Monday, July 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, July 1st.

Farmland Partners has raised its dividend by an average of 47.1% annually over the last three years and has raised its dividend every year for the last 3 years. Farmland Partners has a dividend payout ratio of 400.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Farmland Partners to earn $0.22 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 109.1%.

Farmland Partners Stock Performance

NYSE:FPI opened at $11.53 on Friday. The stock has a market capitalization of $555.40 million, a P/E ratio of 22.61 and a beta of 0.74. The company’s 50-day simple moving average is $11.13 and its 200-day simple moving average is $11.30. Farmland Partners has a fifty-two week low of $9.95 and a fifty-two week high of $13.27.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Farmland Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, June 18th.

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.