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

Farmland Partners Inc. (NYSE:FPI) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Stockholders of record on Tuesday, April 1st will be paid a dividend of 0.06 per share by the financial services provider on Tuesday, April 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Tuesday, April 1st.

Farmland Partners has increased its dividend payment by an average of 71.0% per year over the last three years. Farmland Partners has a payout ratio of 266.7% 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 $0.13 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 184.6%.

Farmland Partners Price Performance

Shares of NYSE FPI traded up $0.88 during midday trading on Thursday, reaching $12.52. 739,933 shares of the stock were exchanged, compared to its average volume of 247,459. The business has a 50-day simple moving average of $11.76 and a two-hundred day simple moving average of $11.30. Farmland Partners has a 12 month low of $9.70 and a 12 month high of $12.87. The company has a market capitalization of $602.85 million, a price-to-earnings ratio of 44.70 and a beta of 0.69.

Farmland Partners (NYSE:FPI) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. Farmland Partners had a return on equity of 3.53% and a net margin of 31.68%. The company had revenue of $21.47 million during the quarter, compared to the consensus estimate of $20.29 million. Equities research analysts expect that Farmland Partners will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In related news, Director John A. Good acquired 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, with a total value of $183,450.00. Following the acquisition, the director now owns 101,465 shares of the company’s stock, valued at approximately $1,240,916.95. This trade represents a 17.35 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Farmland Partners from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th.

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.