Farmland Partners (NYSE:FPI) Hits New 52-Week High at $15.35

Farmland Partners Inc. (NYSE:FPIGet Rating)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $15.35 and last traded at $15.11, with a volume of 4290 shares changing hands. The stock had previously closed at $14.77.

A number of research firms have recently issued reports on FPI. Raymond James lifted their target price on shares of Farmland Partners from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, March 16th. StockNews.com started coverage on shares of Farmland Partners in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research upgraded shares of Farmland Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 15th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.67.

The firm’s 50-day moving average is $12.93 and its two-hundred day moving average is $12.21. The stock has a market cap of $723.81 million, a P/E ratio of -61.54 and a beta of 0.80.

Farmland Partners (NYSE:FPIGet Rating) last posted its quarterly earnings data on Monday, February 21st. The financial services provider reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.09. Farmland Partners had a net margin of 13.30% and a return on equity of 1.94%. During the same period in the previous year, the firm posted $0.16 earnings per share. Equities research analysts anticipate that Farmland Partners Inc. will post 0.21 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Friday, April 1st were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, March 31st. Farmland Partners’s dividend payout ratio is presently -83.33%.

In other Farmland Partners news, CEO Paul A. Pittman bought 2,000 shares of the stock in a transaction on Friday, March 25th. The stock was purchased at an average price of $13.44 per share, with a total value of $26,880.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 9.30% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new stake in Farmland Partners during the 4th quarter worth $30,000. Signaturefd LLC acquired a new position in shares of Farmland Partners in the 4th quarter valued at $44,000. National Bank of Canada FI acquired a new position in shares of Farmland Partners in the 4th quarter valued at $44,000. Van ECK Associates Corp acquired a new position in shares of Farmland Partners in the 4th quarter valued at $46,000. Finally, Fifth Third Bancorp acquired a new position in shares of Farmland Partners in the 4th quarter valued at $54,000. 47.28% of the stock is owned by hedge funds and other institutional investors.

About Farmland Partners (NYSE:FPI)

Farmland Partners Inc is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate. As of the date of this release, the Company owns approximately 155,000 acres in 16 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota and Virginia.

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