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

Farmland Partners Inc. (NYSE:FPI) announced a dividend on Friday, December 13th,NASDAQ Dividends reports. Shareholders of record on Monday, December 23rd will be paid 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 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. 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 Price Performance

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

Analyst Upgrades and Downgrades

Separately, StockNews.com raised 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.