Farmland Partners Inc. (FPI) Reaches New 1-Year High at $11.87
Farmland Partners Inc. (NYSE:FPI) shares hit a new 52-week high on Monday . The company traded as high as $11.87 and last traded at $11.69, with a volume of 115,209 shares trading hands. The stock had previously closed at $11.53.
A number of research analysts have recently weighed in on FPI shares. BMO Capital Markets downgraded Farmland Partners from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $11.30 to $11.50 in a report on Monday, April 18th. Zacks Investment Research downgraded Farmland Partners from a “buy” rating to a “hold” rating in a report on Tuesday, March 29th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $12.00.
The stock’s market cap is $138.22 million. The company’s 50-day moving average price is $11.23 and its 200 day moving average price is $10.87.
The business also recently declared 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 4.37%. The ex-dividend date 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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