Farmland Partners Inc. (NYSE:FPI) to Issue Quarterly Dividend of $0.09

Farmland Partners Inc. (NYSE:FPI) announced a quarterly dividend on Tuesday, October 27th. Stockholders of record on Monday, January 4th will be given a dividend of $0.09 per share by the financial services provider on Friday, January 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, January 4th.

Farmland Partners has increased its dividend payment by an average of 0.2% per year over the last three years. Farmland Partners has a dividend payout ratio of 225.0% 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 $0.25 per share next year, which means the company may not be able to cover its $0.36 annual dividend with an expected future payout ratio of 144.0%.

Farmland Partners Trading Down 1.9%

Shares of Farmland Partners stock opened at $10.12 on Thursday. The firm’s 50 day moving average is $10.56 and its 200 day moving average is $10.73. The firm has a market capitalization of $441.76 million, a PE ratio of 19.85 and a beta of 0.68. Farmland Partners has a 1 year low of $9.21 and a 1 year high of $13.23.

Farmland Partners (NYSE:FPI) last issued its earnings results on Wednesday, October 28th. The financial services provider reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.37). The company had revenue of $9.78 million during the quarter, compared to analyst estimates of $5.98 million. Farmland Partners had a net margin of 49.85% and a return on equity of 5.54%. As a group, research analysts anticipate that Farmland Partners will post 0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FPI shares. Wall Street Zen raised Farmland Partners from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. Weiss Ratings upgraded shares of Farmland Partners from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. Four analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Farmland Partners Company Profile

Farmland Partners Inc is a real estate investment trust (REIT) that owns and manages agricultural land in the United States. The company leases its farmland to farmers and agricultural operators, who use the properties to grow crops and conduct related farming activities.

Farmland Partners’ portfolio is primarily focused on high-quality farmland used to produce major row crops, including corn, soybeans, wheat and cotton, as well as specialty crops in selected markets. Its properties are located across a range of prominent agricultural regions, providing exposure to diverse soil types, growing conditions and crop economies.

Founded in 2013 and headquartered in Denver, Colorado, Farmland Partners became a publicly traded company on the New York Stock Exchange in 2014.