Farmland Partners Inc Announces Quarterly Dividend of $0.13 (FPI)

Farmland Partners Inc (NYSE:FPI) announced a quarterly dividend on Tuesday, February 20th, Zacks reports. Shareholders of record on Monday, April 2nd will be paid a dividend of 0.127 per share by the financial services provider on Monday, April 16th. This represents a $0.51 dividend on an annualized basis and a yield of 6.82%. The ex-dividend date of this dividend is Thursday, March 29th.

Farmland Partners has increased its dividend by an average of 34.4% per year over the last three years. Farmland Partners has a payout ratio of 164.5% 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 $0.40 per share next year, which means the company may not be able to cover its $0.51 annual dividend with an expected future payout ratio of 127.5%.

Shares of Farmland Partners (NYSE:FPI) traded up $0.07 during trading hours on Wednesday, reaching $7.45. 29,470 shares of the company’s stock were exchanged, compared to its average volume of 305,751. The stock has a market capitalization of $241.24, a price-to-earnings ratio of 38.84 and a beta of 0.13. Farmland Partners has a one year low of $7.15 and a one year high of $11.50.

A number of brokerages have issued reports on FPI. Zacks Investment Research lowered shares of Farmland Partners from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Raymond James Financial restated a “hold” rating on shares of Farmland Partners in a research note on Monday, December 4th. Finally, B. Riley restated a “hold” rating and set a $10.00 target price on shares of Farmland Partners in a research note on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $9.45.

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About Farmland Partners

Farmland Partners, Inc is an internally managed real estate company. The Company owns and seeks to acquire farmland located in agricultural markets throughout North America. The Company is the sole member of the general partner of Farmland Partners Operating Partnership, LP (the Operating Partnership).

Dividend History for Farmland Partners (NYSE:FPI)

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