Farmland Partners Inc. (FPI) to Issue Quarterly Dividend of $0.06 on October 15th

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 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Tuesday, October 1st.

Farmland Partners has raised its dividend by an average of 47.1% per year 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% meaning 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 Up 0.7 %

FPI stock opened at $10.47 on Friday. The company’s 50 day moving average is $10.33 and its 200 day moving average is $10.81. Farmland Partners has a 1-year low of $9.70 and a 1-year high of $13.12. The stock has a market cap of $504.31 million, a price-to-earnings ratio of 20.53 and a beta of 0.71.

Farmland Partners (NYSE:FPI) last issued its earnings results on Wednesday, July 24th. The financial services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). Farmland Partners had a return on equity of 3.97% and a net margin of 36.89%. The firm had revenue of $11.45 million during the quarter, compared to analysts’ expectations of $11.84 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. As a group, sell-side analysts forecast that Farmland Partners will post 0.18 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John A. Good acquired 24,000 shares of Farmland Partners stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $10.15 per share, for a total transaction of $243,600.00. Following the purchase, the director now owns 86,465 shares in the company, valued at $877,619.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Farmland Partners from a “hold” rating to a “sell” rating in a report on Thursday, July 25th.

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.