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

Farmland Partners Inc. (NYSE:FPI) declared a quarterly dividend on Wednesday, July 24th, Zacks reports. Shareholders of record on Tuesday, October 1st will be paid 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 yield of 2.27%. The ex-dividend date is Tuesday, October 1st.

Farmland Partners has raised its dividend by an average of 47.1% annually over the last three years and has raised its dividend every year for the last 3 years. Farmland Partners has a payout ratio of 400.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Trading Down 6.9 %

Farmland Partners stock opened at $10.57 on Friday. Farmland Partners has a 1-year low of $9.95 and a 1-year high of $13.27. The firm has a market capitalization of $509.16 million, a price-to-earnings ratio of 20.73 and a beta of 0.71. The firm has a 50 day simple moving average of $11.26 and a 200 day simple moving average of $11.14.

Farmland Partners (NYSE:FPI) last posted its earnings results on Wednesday, July 24th. The financial services provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). Farmland Partners had a return on equity of 3.96% and a net margin of 36.89%. The firm had revenue of $11.45 million for the quarter, compared to the consensus estimate of $11.84 million. During the same period last year, the company posted ($0.02) EPS. On average, equities research analysts forecast that Farmland Partners will post 0.19 EPS for the current year.

Analyst Ratings Changes

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

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.