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

Farmland Partners Inc. (NYSE:FPI) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Thursday, January 2nd will be paid a dividend of 0.06 per share by the financial services provider on Wednesday, January 15th. This represents a $0.24 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, January 2nd.

Farmland Partners has raised its dividend by an average of 47.1% annually 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. Equities 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 Down 0.7 %

Shares of NYSE:FPI traded down $0.08 on Friday, hitting $11.63. 52,309 shares of the company were exchanged, compared to its average volume of 320,333. Farmland Partners has a 1-year low of $9.70 and a 1-year high of $13.12. The firm has a market capitalization of $560.22 million, a P/E ratio of 41.43 and a beta of 0.70. The stock’s 50 day moving average price is $10.58 and its 200 day moving average price is $10.82.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Farmland Partners from a “sell” rating to a “hold” rating in a report on Thursday.

Insider Buying and Selling

In other news, Director John A. Good bought 24,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average cost of $10.15 per share, with a total value of $243,600.00. Following the purchase, the director now directly owns 86,465 shares in the company, valued at $877,619.75. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.30% of the stock is currently owned by insiders.

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.