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

Farmland Partners Inc. (NYSE:FPI) announced a quarterly dividend on Wednesday, July 24th, Zacks reports. Investors of record on Tuesday, October 1st will be given 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 dividend yield of 2.27%. The ex-dividend date of this dividend is Tuesday, October 1st.

Farmland Partners has increased 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 payout ratio of 400.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Farmland Partners to earn $0.20 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 120.0%.

Farmland Partners Stock Performance

Shares of NYSE:FPI opened at $10.57 on Friday. The firm has a market cap of $509.16 million, a price-to-earnings ratio of 20.73 and a beta of 0.71. The business has a 50-day simple moving average of $11.26 and a two-hundred day simple moving average of $11.14. Farmland Partners has a fifty-two week low of $9.95 and a fifty-two week high of $13.27.

Farmland Partners (NYSE:FPI) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). The company had revenue of $11.45 million for the quarter, compared to analysts’ expectations of $11.84 million. Farmland Partners had a net margin of 36.89% and a return on equity of 3.96%. During the same period in the previous year, the firm earned ($0.02) earnings per share. As a group, research analysts predict that Farmland Partners will post 0.19 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.

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.