Farmland Partners Inc. (NYSE:FPI - Get Free Report) declared a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Shareholders of record on Monday, July 1st will be paid a dividend of 0.06 per share by the financial services provider on Monday, July 15th. This represents a $0.24 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Monday, July 1st.
Farmland Partners has raised its dividend payment by an average of 47.1% per year over the last three years. Farmland Partners has a dividend payout ratio of 600.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Farmland Partners to earn $0.20 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 120.0%.
Farmland Partners Price Performance
NYSE FPI traded up $0.38 on Wednesday, reaching $11.14. The stock had a trading volume of 469,733 shares, compared to its average volume of 337,740. The firm has a fifty day moving average of $10.87 and a two-hundred day moving average of $11.39. Farmland Partners has a 1-year low of $9.95 and a 1-year high of $13.27. The company has a market cap of $536.39 million, a P/E ratio of 21.42 and a beta of 0.75.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. Roth Capital reaffirmed a "buy" rating on shares of Farmland Partners in a report on Thursday, February 8th. StockNews.com raised Farmland Partners from a "sell" rating to a "hold" rating in a report on Friday, March 8th.
Read Our Latest Analysis on FPI
About Farmland Partners
(
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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.
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