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

Farmland Partners Inc. (NYSE:FPI) announced a quarterly dividend on Tuesday, February 18th, 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 2.15%. The ex-dividend date is Tuesday, April 1st.

Farmland Partners has raised its dividend by an average of 71.0% per year over the last three years. Farmland Partners has a payout ratio of 200.0% meaning 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 Down 0.0 %

FPI stock opened at $11.16 on Friday. The business has a 50 day moving average of $11.48 and a 200 day moving average of $11.52. The firm has a market cap of $513.02 million, a PE ratio of 11.16 and a beta of 0.66. Farmland Partners has a twelve month low of $9.70 and a twelve month high of $12.87.

Farmland Partners (NYSE:FPI) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. The firm had revenue of $21.47 million during the quarter, compared to the consensus estimate of $20.29 million. Farmland Partners had a return on equity of 11.47% and a net margin of 102.89%. On average, research analysts expect that Farmland Partners will post 0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Farmland Partners from a “sell” rating to a “hold” rating in a research note on Friday, February 28th.

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.