Farmland Partners Inc. (FPI) Sets New 12-Month High at $11.87
Farmland Partners Inc. (NYSE:FPI) hit a new 52-week high during trading on Monday . The company traded as high as $11.87 and last traded at $11.69, with a volume of 115,209 shares changing hands. The stock had previously closed at $11.53.
A number of equities research analysts have recently commented on the company. Zacks Investment Research upgraded Farmland Partners from a “sell” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets downgraded Farmland Partners from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $11.30 to $11.50 in a research report on Monday, April 18th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $12.00.
The stock’s 50 day moving average price is $11.26 and its 200-day moving average price is $10.89. The firm’s market capitalization is $138.81 million.
The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, July 1st were paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Wednesday, June 29th.
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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