Farmland Partners Inc. (FPI) To Go Ex-Dividend on April 1st

Farmland Partners Inc. (NYSE:FPI) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders 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 yield of 1.93%. The ex-dividend date of this dividend is Tuesday, April 1st.

Farmland Partners has increased its dividend by an average of 71.0% per year over the last three years. Farmland Partners has a dividend payout ratio of 266.7% indicating that 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 0.8 %

FPI stock opened at $12.41 on Friday. Farmland Partners has a 12 month low of $9.70 and a 12 month high of $12.87. The firm has a market cap of $597.55 million, a P/E ratio of 12.41 and a beta of 0.69. The company’s 50-day moving average price is $11.77 and its two-hundred day moving average price is $11.32.

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

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Farmland Partners from a “hold” rating to a “sell” rating in a research note on Thursday.

Insider Buying and Selling

In other news, Director John A. Good purchased 15,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were purchased at an average price of $12.23 per share, for a total transaction of $183,450.00. Following the transaction, the director now owns 101,465 shares of the company’s stock, valued at approximately $1,240,916.95. This trade represents a 17.35 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 8.30% of the stock is owned by corporate 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.