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

Farmland Partners Inc. (NYSE:FPI - Get Free Report) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Stockholders of record on Tuesday, April 1st will be given a dividend of 0.06 per share by the financial services provider on Tuesday, April 15th. This represents a $0.24 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Tuesday, April 1st.

Farmland Partners has increased its dividend payment by an average of 71.0% per year 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 4.5 %

Shares of Farmland Partners stock traded down $0.57 on Monday, hitting $11.87. The stock had a trading volume of 1,734,903 shares, compared to its average volume of 295,385. Farmland Partners has a twelve month low of $9.70 and a twelve month high of $12.87. The business's 50 day moving average is $11.76 and its two-hundred day moving average is $11.35. The stock has a market cap of $571.57 million, a price-to-earnings ratio of 11.87 and a beta of 0.69.

Farmland Partners (NYSE:FPI - Get Free Report) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $21.47 million for the quarter, compared to the consensus estimate of $20.29 million. Farmland Partners had a return on equity of 11.47% and a net margin of 102.89%. As a group, equities analysts predict that Farmland Partners will post 0.13 earnings per share for the current fiscal year.

Remove Ads

Insider Activity at Farmland Partners

In related news, Director John A. Good purchased 15,000 shares of the business's stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average cost of $12.23 per share, for a total transaction of $183,450.00. Following the completion of the purchase, the director now owns 101,465 shares in the company, valued at approximately $1,240,916.95. This represents a 17.35 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com cut 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.