Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

Farmland Partners Inc. (FPI)

Company Dividend Discount ModelIndustry: REIT - SpecialtySector: Real Estate

Valuation Snapshot

Stable Growth$32.64 - $87.15$50.01
Multi-Stage$24.09 - $26.22$25.13
Blended Fair Value$37.57
Current Price$10.88
Upside245.34%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS28.49%29.28%0.430.250.000.130.120.120.470.360.130.09
YoY Growth--76.24%0.00%-100.00%7.03%-3.80%-73.70%30.23%173.24%49.05%166.91%
Dividend Yield--3.90%2.27%0.00%0.93%1.07%2.05%7.13%4.34%1.19%0.83%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)68.87
(-) Cash Dividends Paid (M)64.05
(=) Cash Retained (M)4.82
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)13.778.615.17
Cash Retained (M)4.824.824.82
(-) Cash Required (M)-13.77-8.61-5.17
(=) Excess Retained (M)-8.95-3.79-0.34
(/) Shares Outstanding (M)49.7449.7449.74
(=) Excess Retained per Share-0.18-0.08-0.01
LTM Dividend per Share1.291.291.29
(+) Excess Retained per Share-0.18-0.08-0.01
(=) Adjusted Dividend1.111.211.28
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate5.50%6.50%7.50%
Fair Value$32.64$50.01$87.15
Upside / Downside200.04%359.68%700.97%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)68.8773.3578.1183.1988.6094.3697.19
Payout Ratio93.00%92.40%91.80%91.20%90.60%90.00%92.50%
Projected Dividends (M)64.0567.7771.7175.8780.2784.9289.90

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)61.5562.1362.71
Year 2 PV (M)59.1460.2761.40
Year 3 PV (M)56.8358.4660.12
Year 4 PV (M)54.6056.7058.86
Year 5 PV (M)52.4654.9957.62
PV of Terminal Value (M)913.36957.481,003.28
Equity Value (M)1,197.931,250.021,304.00
Shares Outstanding (M)49.7449.7449.74
Fair Value$24.09$25.13$26.22
Upside / Downside121.37%131.00%140.97%

High-Yield Dividend Screener

« Prev Page 16 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
HWBKHawthorn Bancshares, Inc.2.27%$0.7724.18%
UTMDUtah Medical Products, Inc.2.27%$1.2835.35%
DKSDICK'S Sporting Goods, Inc.2.26%$4.5238.61%
EMLThe Eastern Company2.26%$0.4437.05%
SBCFSeacoast Banking Corporation of Florida2.26%$0.7143.09%
WMKWeis Markets, Inc.2.26%$1.4535.88%
0JYA.LMarathon Petroleum Corporation2.25%$3.7274.60%
FSBCFive Star Bancorp2.25%$0.8029.79%
IBMInternational Business Machines Corporation2.25%$6.5678.75%
0KYZ.LSBA Communications Corporation2.24%$4.3254.40%
BPOPPopular, Inc.2.24%$2.8224.06%
MFINMedallion Financial Corp.2.24%$0.2312.50%
MSMorgan Stanley2.24%$4.0740.12%
FXNCFirst National Corporation2.23%$0.5586.28%
BACBank of America Corporation2.22%$1.2431.97%
SSBSouthState Corporation2.22%$2.0930.58%
VLGEAVillage Super Market, Inc.2.22%$0.7720.42%
WWWWolverine World Wide, Inc.2.22%$0.4137.79%
CCBGCapital City Bank Group, Inc.2.21%$0.9326.22%
CGThe Carlyle Group Inc.2.20%$1.3476.25%
NHINational Health Investors, Inc.2.20%$1.6954.58%
VNOVornado Realty Trust2.20%$0.7315.58%
BANCBanc of California, Inc.2.19%$0.4332.44%
EBTCEnterprise Bancorp, Inc.2.19%$0.8726.66%
RHPRyman Hospitality Properties, Inc.2.19%$2.0957.31%
CDPCOPT Defense Properties2.18%$0.6045.15%
FDSFactSet Research Systems Inc.2.18%$6.2039.64%
ISBAIsabella Bank Corporation2.18%$1.1044.52%
WHWyndham Hotels & Resorts, Inc.2.18%$1.6437.28%
EFSCEnterprise Financial Services Corp2.17%$1.1722.34%
ETHGrayscale Ethereum Mini Trust2.17%$0.6434.57%
SEMSelect Medical Holdings Corporation2.17%$0.3236.19%
BFSTBusiness First Bancshares, Inc.2.16%$0.5620.21%
CWBCCommunity West Bancshares2.16%$0.4826.89%
EHTHeHealth, Inc.2.16%$0.095.60%
TPLTexas Pacific Land Corporation2.16%$6.4231.02%
CBSHCommerce Bancshares, Inc.2.15%$1.1226.40%
COLMColumbia Sportswear Company2.15%$1.2035.55%
HTHHilltop Holdings Inc.2.15%$0.7328.46%
NATHNathan's Famous, Inc.2.15%$1.9835.76%
RCKYRocky Brands, Inc.2.15%$0.6222.50%
BDXBecton, Dickinson and Company2.14%$4.1771.28%
CICigna Corporation2.14%$5.9626.01%
FBIZFirst Business Financial Services, Inc.2.14%$1.1518.19%
JBSSJohn B. Sanfilippo & Son, Inc.2.14%$1.4926.50%
JNPRJuniper Networks, Inc.2.14%$0.8682.37%
POOLPool Corporation2.14%$4.9244.68%
CSCOCisco Systems, Inc.2.13%$1.6262.56%
CSTRCapStar Financial Holdings, Inc.2.13%$0.4330.48%
HTLFHeartland Financial USA, Inc.2.13%$1.3869.73%