Farmland Partners Inc (NYSE:FPI) declared a quarterly dividend on Monday, May 11th, Wall Street Journal reports. Stockholders of record on Wednesday, July 1st will be given a dividend of 0.05 per share by the financial services provider on Wednesday, July 15th. This represents a $0.20 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Tuesday, June 30th.
Farmland Partners has a dividend payout ratio of -333.3% 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 $0.23 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 87.0%.
Farmland Partners stock opened at $6.90 on Monday. Farmland Partners has a fifty-two week low of $5.05 and a fifty-two week high of $7.50. The company has a market cap of $206.07 million, a PE ratio of -98.56 and a beta of 0.63. The business’s 50-day simple moving average is $6.77 and its two-hundred day simple moving average is $6.52.
Farmland Partners (NYSE:FPI) last announced its earnings results on Thursday, May 7th. The financial services provider reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. Farmland Partners had a return on equity of 3.58% and a net margin of 20.50%. The business had revenue of $11.65 million during the quarter, compared to analysts’ expectations of $10.84 million. Analysts expect that Farmland Partners will post 0.2 EPS for the current fiscal year.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded Farmland Partners from a “hold” rating to a “buy” rating and set a $6.25 price target on the stock in a research note on Thursday, March 12th. B. Riley upped their target price on Farmland Partners from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th.
Farmland Partners Company Profile
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 the date of this release, the Company owns approximately 162,000 acres in 17 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota, Texas and Virginia.
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