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

Farmland Partners Inc. (NYSE:FPI) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Investors of record on Monday, July 1st will be given a dividend of 0.06 per share by the financial services provider on Monday, July 15th. This represents a $0.24 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Monday, July 1st.

Farmland Partners has increased its dividend payment by an average of 47.1% per year over the last three years. Farmland Partners has a dividend payout ratio of 600.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Up 3.5 %

Shares of FPI opened at $11.14 on Thursday. The stock has a market cap of $536.39 million, a price-to-earnings ratio of 21.84 and a beta of 0.75. Farmland Partners has a 12 month low of $9.95 and a 12 month high of $13.27. The company has a 50-day moving average price of $10.87 and a two-hundred day moving average price of $11.39.

Analyst Ratings Changes

A number of research analysts have commented on FPI shares. Roth Capital restated a “buy” rating on shares of Farmland Partners in a research note on Thursday, February 8th. StockNews.com upgraded shares of Farmland Partners from a “sell” rating to a “hold” rating in a research note on Friday, March 8th.

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.