Farmland Partners Inc. (NYSE:FPI – Get Free Report) announced a quarterly dividend on Tuesday, October 27th. Investors 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 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, January 4th.
Farmland Partners has raised 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% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Stock Performance
Shares of FPI opened at $10.12 on Thursday. The stock has a market cap of $441.76 million, a PE ratio of 19.85 and a beta of 0.68. Farmland Partners has a fifty-two week low of $9.21 and a fifty-two week high of $13.23. The firm’s 50-day simple moving average is $10.56 and its two-hundred day simple moving average is $10.73.
Farmland Partners (NYSE:FPI – Get Free Report) last released its earnings results on Wednesday, October 28th. The financial services provider reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.37). The business had revenue of $9.78 million for the quarter, compared to analysts’ expectations of $5.98 million. Farmland Partners had a net margin of 49.85% and a return on equity of 5.54%. Equities research analysts predict that Farmland Partners will post 0.23 EPS for the current year.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. Wall Street Zen raised Farmland Partners from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. Weiss Ratings raised 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.
Read Our Latest Stock Report on Farmland Partners
About Farmland Partners
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.
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