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

Farmland Partners Inc. (NYSE:FPI) announced 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 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Tuesday, April 1st.

Farmland Partners has increased its dividend 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. Equities 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 Trading Up 7.5 %

Shares of Farmland Partners stock traded up $0.88 during trading hours on Thursday, hitting $12.52. 739,933 shares of the company were exchanged, compared to its average volume of 247,459. The business has a 50-day moving average of $11.76 and a 200-day moving average of $11.30. Farmland Partners has a 1 year low of $9.70 and a 1 year high of $12.87. The stock 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 issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $21.47 million for the quarter, compared to analyst estimates of $20.29 million. Farmland Partners had a net margin of 31.68% and a return on equity of 3.53%. As a group, research analysts anticipate that Farmland Partners will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Farmland Partners

In other Farmland Partners news, Director John A. Good acquired 15,000 shares of the stock in a transaction dated Thursday, December 19th. The stock was acquired at an average price of $12.23 per share, with a total value of $183,450.00. Following the completion of the transaction, the director now directly owns 101,465 shares in the company, valued at approximately $1,240,916.95. This trade represents a 17.35 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 8.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Farmland Partners from a “sell” rating to a “hold” rating in a report 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.