Farmland Partners Inc (FPI) To Go Ex-Dividend on December 29th

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.

A number of brokerages have recently issued reports on FPI. Zacks Investment Research downgraded Farmland Partners from a “buy” rating to a “hold” rating in a report on Monday, November 27th. Stifel Nicolaus reaffirmed a “buy” rating and set a $9.25 price target (down from $10.00) on shares of Farmland Partners in a report on Monday, September 25th. Raymond James Financial began coverage on Farmland Partners in a report on Monday, September 18th. They set a “market perform” rating on the stock. Finally, B. Riley reaffirmed a “hold” rating and set a $10.00 price target on shares of Farmland Partners in a report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Farmland Partners currently has an average rating of “Hold” and a consensus price target of $9.65.

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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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