Farmland Partners Inc. (FPI) Hits New 1-Year High at $11.94
Farmland Partners Inc. (NYSE:FPI)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $11.94 and last traded at $11.94, with a volume of 59,425 shares traded. The stock had previously closed at $11.74.
A number of brokerages recently issued reports on FPI. Zacks Investment Research upgraded Farmland Partners from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th. BMO Capital Markets cut Farmland Partners from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $11.30 to $11.50 in a report on Monday, April 18th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $12.00.
The company has a 50 day moving average of $11.46 and a 200 day moving average of $10.96. The firm’s market capitalization is $141.30 million.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, July 1st were issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 4.27%. 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).