Farmland Partners (NYSE:FPI) Updates FY 2024 Earnings Guidance

Farmland Partners (NYSE:FPI) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.200-0.260 for the period, compared to the consensus earnings per share estimate of 0.250. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Farmland Partners from a sell rating to a hold rating in a research report on Monday, July 15th.

Farmland Partners Stock Performance

Shares of FPI traded down $0.15 during mid-day trading on Wednesday, hitting $11.36. 303,762 shares of the company were exchanged, compared to its average volume of 321,097. Farmland Partners has a 1-year low of $9.95 and a 1-year high of $13.27. The stock has a market cap of $547.21 million, a price-to-earnings ratio of 22.26 and a beta of 0.71. The company has a 50 day moving average of $11.27 and a 200-day moving average of $11.14.

Farmland Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were given a dividend of $0.06 per share. The ex-dividend date was Monday, July 1st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.11%. Farmland Partners’s payout ratio is currently 47.06%.

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.