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

Farmland Partners Inc. (NYSE:FPIGet Free Report) 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.

Read Our Latest Stock Analysis on Farmland Partners

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

(Get Free Report)

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.

Further Reading

Dividend History for Farmland Partners (NYSE:FPI)

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