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

Farmland Partners Inc. (NYSE:FPI) declared a quarterly dividend on Thursday, February 20th, 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 1.93%. The ex-dividend date of this dividend is Tuesday, April 1st.

Farmland Partners has increased its dividend payment by an average of 71.0% annually over the last three years. Farmland Partners has a dividend payout ratio of 266.7% 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 0.8 %

NYSE:FPI opened at $12.41 on Friday. The company has a fifty day moving average of $11.77 and a 200-day moving average of $11.32. The firm has a market capitalization of $597.55 million, a P/E ratio of 12.41 and a beta of 0.69. Farmland Partners has a twelve month low of $9.70 and a twelve month high of $12.87.

Farmland Partners (NYSE:FPI) last released its quarterly earnings data 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 company had revenue of $21.47 million during the quarter, compared to analyst estimates of $20.29 million. Farmland Partners had a net margin of 102.89% and a return on equity of 11.47%. On average, analysts anticipate that Farmland Partners will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling at Farmland Partners

In other Farmland Partners news, Director John A. Good purchased 15,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was acquired at an average price of $12.23 per share, for a total transaction of $183,450.00. Following the purchase, the director now owns 101,465 shares of the company’s stock, valued at $1,240,916.95. This trade represents a 17.35 % increase in their position. The purchase was disclosed in a filing with the SEC, 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 lowered shares of Farmland Partners from a “hold” rating to a “sell” rating in a research note 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.