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Definitive Analysis

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Page: Dividend Discount Model

Farmland Partners Inc.

Ticker: FPI | Industry: REIT - Specialty | Sector: Real Estate
$10.58 +0.05 (0.47%)
As of: 2026-01-15

Master Data Export


Dividend Discount Models Snapshot

ModelRangeSelected
Stable Growth DDM$4.29 - $5.30$4.82
Multi-Stage DDM$5.50 - $6.12$5.80
Blended Fair Value$5.31
Stock Price$10.07

Dividend History (Last 10 Years)

Metric2024202320222021202020192018201720162015
DPS0.3860.2110.0000.1840.2020.2050.7300.5810.5000.460
YoY %83.50%0.00%-100.00%-9.23%-1.21%-71.96%25.71%16.21%8.69%18.22%
Yield3.838%2.092%0.000%1.824%2.010%2.034%7.255%5.771%4.966%4.569%

CAGRValue
5 Year13.54%
10 Year-0.07%

Discounted Dividend Model - Stable Growth

MetricRangeSelected
LT Growth-15.31% to -13.31%-14.31%
WACC9.20%9.20%
Fair Value$4.29 - $5.30$4.82

Calculation Details (Millions)

MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(*) Adjusted Net Income59.9159.9159.91
(=) Cash Required11.987.494.49
Cash Retained59.9159.9159.91
(-) Cash Required-11.98-7.49-4.49
(=) Excess Retained47.9352.4255.42
(/) Shares Outstanding55,987,00055,987,00055,987,000
(=) Excess Retained per Share0.860.940.99
LTM Dividend per Share0.3860.3860.386
(+) Excess Retained per Share0.860.940.99
(=) Adjusted Dividend1.2421.3231.376

Multi-Stage Projections (BASE Case - Millions)

MetricTTMYear 1Year 2Year 3Year 4Year 5
Net Income59.9151.3443.9937.7032.3027.68
Payout Ratio36.1%25.0%41.0%57.0%73.0%90.0%
Projected Dividends21.6312.8318.0421.4923.5824.91

Multi-Stage Valuation (Millions)

Present ValuesLOWBASEHIGH
Year 1 PV12.1412.2812.43
Year 2 PV15.4415.8116.18
Year 3 PV16.6517.2417.86
Year 4 PV16.5417.3318.15
Year 5 PV15.8116.7717.77
TV PV231.52245.51260.17
Equity Value308.09324.94342.56
Fair Value$5.50$5.80$6.12
Stock Price$10.07$10.07$10.07

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FPI Farmland Partners Inc. 15.34% $1.48 93.00%