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

Farmland Partners Inc. (NYSE:FPI) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders of record on Thursday, January 2nd will be given a dividend of 0.06 per share by the financial services provider on Wednesday, January 15th. This represents a $0.24 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, January 2nd.

Farmland Partners has increased its dividend by an average of 47.1% annually over the last three years and has increased its dividend annually for the last 3 consecutive 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. 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 Down 0.7 %

Shares of FPI stock traded down $0.08 on Friday, reaching $11.63. The company’s stock had a trading volume of 52,309 shares, compared to its average volume of 320,333. Farmland Partners has a 1 year low of $9.70 and a 1 year high of $13.12. The stock’s fifty day simple moving average is $10.58 and its 200-day simple moving average is $10.82. The company has a market capitalization of $560.22 million, a price-to-earnings ratio of 41.43 and a beta of 0.70.

Insider Transactions at Farmland Partners

In other Farmland Partners news, Director John A. Good bought 24,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $10.15 per share, for a total transaction of $243,600.00. Following the completion of the transaction, the director now directly owns 86,465 shares of the company’s stock, valued at approximately $877,619.75. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.30% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Farmland Partners from a “sell” rating to a “hold” rating in a research 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.