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

Farmland Partners Inc. (NYSE:FPI) declared a quarterly dividend on Wednesday, July 24th, Zacks reports. Investors 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 annualized dividend and a yield of 2.29%. The ex-dividend date is Tuesday, October 1st.

Farmland Partners has raised its dividend payment by an average of 47.1% annually over the last three years and has increased its dividend every year for the last 3 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. 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 Trading Up 0.7 %

Shares of NYSE FPI opened at $10.47 on Monday. Farmland Partners has a twelve month low of $9.70 and a twelve month high of $13.12. The firm has a 50-day moving average of $10.33 and a two-hundred day moving average of $10.80. The company has a market capitalization of $504.31 million, a price-to-earnings ratio of 20.53 and a beta of 0.71.

Farmland Partners (NYSE:FPI) last released its earnings results on Wednesday, July 24th. The financial services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). The business had revenue of $11.45 million for the quarter, compared to analyst estimates of $11.84 million. Farmland Partners had a net margin of 36.89% and a return on equity of 3.97%. During the same period in the prior year, the company earned ($0.02) earnings per share. As a group, research analysts predict that Farmland Partners will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Farmland Partners

In other news, Director John A. Good bought 24,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average cost of $10.15 per share, with a total value of $243,600.00. Following the completion of the transaction, the director now directly owns 86,465 shares in the company, valued at approximately $877,619.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.