Shares of Farmland Partners Inc. (NYSE:FPI) dropped 2.6% during mid-day trading on Friday . The stock traded as low as $11.05 and last traded at $11.06, with a volume of 59,089 shares. The stock had previously closed at $11.35.

Separately, Zacks Investment Research upgraded shares of Farmland Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $12.00.

The company’s market capitalization is $144.09 million. The firm’s 50-day moving average is $11.55 and its 200-day moving average is $11.08.

The firm also recently declared 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. This represents a $0.51 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date is Wednesday, September 28th.

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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