Farmland Partners Inc. (NYSE:FPI) to Issue Dividend Increase – $1.15 Per Share

Posted by Maurice Goldstein on Dec 14th, 2024

Farmland Partners Inc. (NYSE:FPI – Get Free Report) 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 positive change from Farmland Partners’s previous dividend of $0.13.

Farmland Partners has increased its dividend payment by an average of 47.1% annually over the last three years. Farmland Partners has a payout ratio of 600.0% 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 $0.14 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 mid-day trading on Friday, reaching $12.64. 479,999 shares of the company traded hands, compared to its average volume of 326,936. The firm’s 50 day moving average price is $11.82 and its 200 day moving average price is $11.11. The stock has a market cap of $608.87 million, a price-to-earnings ratio of 45.20 and a beta of 0.70. Farmland Partners has a fifty-two week low of $9.70 and a fifty-two week high of $13.12.

Analysts Set New Price Targets

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

Read Our Latest Stock Analysis on Farmland Partners

Farmland Partners Company Profile

(Get Free Report)

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.