Farmland Partners Inc. (FPI) Shares Up 4%
Farmland Partners Inc. (NYSE:FPI) shares shot up 4% during trading on Monday . The company traded as high as $11.54 and last traded at $11.50, with a volume of 99,216 shares trading hands. The stock had previously closed at $11.06.
Separately, Zacks Investment Research lowered shares of Farmland Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $12.00.
The firm’s market capitalization is $150.73 million. The firm has a 50 day moving average price of $11.55 and a 200 day moving average price of $11.08.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $0.1275 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.51 dividend on an annualized basis and a yield of 4.41%.
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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