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

Farmland Partners Inc. (NYSE:FPI - Get Free Report) announced a quarterly dividend on Thursday, July 24th, Wall Street Journal reports. Stockholders of record on Wednesday, October 1st will be given a dividend of 0.06 per share by the financial services provider on Wednesday, October 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Wednesday, October 1st.

Farmland Partners has a payout ratio of 150.0% 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 Trading Down 6.2%

Shares of NYSE FPI traded down $0.70 during midday trading on Friday, reaching $10.61. The company's stock had a trading volume of 711,523 shares, compared to its average volume of 415,371. Farmland Partners has a fifty-two week low of $9.66 and a fifty-two week high of $12.87. The stock has a market capitalization of $476.45 million, a price-to-earnings ratio of 8.70 and a beta of 0.83. The stock has a 50 day simple moving average of $11.29 and a 200-day simple moving average of $11.10.

Farmland Partners (NYSE:FPI - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The firm had revenue of $6.02 million for the quarter, compared to analyst estimates of $9.50 million. Farmland Partners had a return on equity of 13.98% and a net margin of 127.59%. As a group, equities analysts anticipate that Farmland Partners will post 0.13 EPS for the current year.

Hedge Funds Weigh In On Farmland Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in shares of Farmland Partners in the first quarter valued at $1,404,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Farmland Partners by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,322 shares of the financial services provider's stock valued at $293,000 after acquiring an additional 1,092 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Farmland Partners in the first quarter valued at about $174,000. Finally, Strs Ohio acquired a new stake in Farmland Partners during the first quarter worth about $96,000. 58.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Farmland Partners from a "sell" rating to a "hold" rating in a report on Saturday.

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.