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

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 is Tuesday, April 1st.

Farmland Partners has raised its dividend by an average of 71.0% annually 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.

Farmland Partners Stock Performance

Shares of NYSE FPI opened at $12.52 on Friday. The firm has a market cap of $602.85 million, a price-to-earnings ratio of 12.52 and a beta of 0.69. The business’s 50-day simple moving average is $11.77 and its 200-day simple moving average is $11.31. Farmland Partners has a 52 week low of $9.70 and a 52 week high of $12.87.

Farmland Partners (NYSE:FPI) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.19 EPS for the quarter, beating 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 return on equity of 11.47% and a net margin of 102.89%. As a group, equities research analysts forecast that Farmland Partners will post 0.13 earnings per share for the current year.

Insider Buying and Selling at Farmland Partners

In other news, Director John A. Good acquired 15,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were bought at an average price 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 $1,240,916.95. This trade represents a 17.35 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.30% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Farmland Partners from a “hold” rating to a “sell” rating in a report on Thursday.

About Farmland Partners

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.