Farmland Partners Inc. (FPI) Stock Price Down 0.1%
Farmland Partners Inc. (NYSE:FPI) shares fell 0.1% during mid-day trading on Friday . The company traded as low as $11.48 and last traded at $11.51, with a volume of 54,350 shares changing hands. The stock had previously closed at $11.50.
A number of research firms have issued reports on FPI. Zacks Investment Research raised Farmland Partners from a “sell” rating to a “hold” rating in a research note on Monday, June 20th. BMO Capital Markets cut Farmland Partners from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $11.30 to $11.50 in a research report on Monday, April 18th. Stifel Nicolaus reduced their price objective on Farmland Partners from $12.50 to $12.00 and set a “buy” rating for the company in a research report on Thursday, March 17th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Farmland Partners in a research report on Wednesday, March 16th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $12.00.
The stock has a 50 day moving average of $11.16 and a 200-day moving average of $10.85. The company’s market cap is $136.68 million.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, July 1st will be paid a $0.1275 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.51 annualized dividend and a dividend yield of 4.42%.
An institutional investor recently raised its position in Farmland Partners stock. Tocqueville Asset Management L.P. boosted its stake in shares of Farmland Partners Inc. (NYSE:FPI) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,250 shares of the company’s stock after buying an additional 3,550 shares during the period. Tocqueville Asset Management L.P. owned 0.77% of Farmland Partners worth $1,001,000 as of its most recent filing with the SEC.
Farmland Partners Inc is an internally managed real estate company. The Company owns and seeks to acquire primary crop 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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