Farmland Partners Inc. (FPI) Trading Up 2.3%
Shares of Farmland Partners Inc. (NYSE:FPI) were up 2.3% during mid-day trading on Monday . The stock traded as high as $11.42 and last traded at $11.40, with a volume of 76,569 shares changing hands. The stock had previously closed at $11.14.
Separately, Zacks Investment Research raised Farmland Partners from a “sell” rating to a “hold” rating in a research note on Monday, June 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $12.00.
The company’s market capitalization is $149.17 million. The firm’s 50-day moving average is $11.57 and its 200 day moving average is $11.07.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.1275 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.51 annualized dividend and a dividend yield of 4.45%.
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 Company’s principal investment focus is on farmland located in agricultural markets throughout North America, however, it may seek to acquire farmland outside of North America.
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