Farmland Partners Inc (NYSE:FPI) declared a quarterly dividend on Tuesday, November 7th, Zacks reports. Stockholders of record on Tuesday, January 2nd will be paid a dividend of 0.127 per share by the financial services provider on Tuesday, January 16th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date of this dividend is Friday, December 29th.
Farmland Partners has a dividend payout ratio of 164.5% meaning 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 $0.40 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%.
Farmland Partners (FPI) opened at $8.82 on Thursday. The stock has a market capitalization of $288.45, a price-to-earnings ratio of 46.42 and a beta of 0.21. Farmland Partners has a 1-year low of $8.06 and a 1-year high of $11.76.
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).
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