Farmland Partners Inc. (NYSE:FPI) to Issue Dividend of $1.15

Farmland Partners Inc. (NYSE:FPI) announced a dividend on Friday, December 13th,NASDAQ Dividends reports. Investors of record on Monday, December 23rd will be given a dividend of 1.15 per share by the financial services provider on Wednesday, January 8th. The ex-dividend date of this dividend is Monday, December 23rd. This is a boost from Farmland Partners’s previous dividend of $0.13.

Farmland Partners has raised its dividend payment by an average of 47.1% per year over the last three years. Farmland Partners has a 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. Analysts expect Farmland Partners to earn $0.14 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 171.4%.

Farmland Partners Stock Up 3.7 %

FPI stock traded up $0.45 during midday trading on Friday, hitting $12.64. 479,999 shares of the company traded hands, compared to its average volume of 326,936. The business has a 50 day simple moving average of $11.82 and a 200-day simple moving average of $11.11. Farmland Partners has a twelve month low of $9.70 and a twelve month high of $13.12. The stock has a market capitalization of $608.87 million, a price-to-earnings ratio of 45.20 and a beta of 0.70.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Farmland Partners from a “sell” rating to a “hold” rating in a report on Saturday, November 9th.

About Farmland Partners

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.