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

Farmland Partners Inc. (NYSE:FPI - Get Free Report) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders of record on Thursday, January 2nd will be given 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 2.07%. The ex-dividend date is Thursday, January 2nd.

Farmland Partners has increased its dividend by an average of 47.1% per year 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 Price Performance

NYSE FPI traded down $0.12 during trading on Friday, hitting $11.60. 423,413 shares of the company's stock traded hands, compared to its average volume of 322,132. The stock has a fifty day moving average of $10.58 and a two-hundred day moving average of $10.82. Farmland Partners has a 12-month low of $9.70 and a 12-month high of $13.12. The firm has a market cap of $558.53 million, a P/E ratio of 41.43 and a beta of 0.70.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Farmland Partners from a "sell" rating to a "hold" rating in a research report on Thursday.

Insider Transactions at Farmland Partners

In other news, Director John A. Good bought 24,000 shares of the company's stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $10.15 per share, for a total transaction of $243,600.00. Following the completion of the acquisition, the director now owns 86,465 shares in the company, valued at approximately $877,619.75. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 8.30% of the stock is currently owned by company insiders.

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.