Insider Buying: Paul A. Pittman Buys 2,000 Shares of Farmland Partners Stock (FPI)
Farmland Partners (NYSE:FPI) CEO Paul A. Pittman acquired 2,000 shares of the stock on the open market in a transaction dated Wednesday, June 4th. The stock was purchased at an average cost of $13.15 per share, for a total transaction of $26,300.00. Following the completion of the purchase, the chief executive officer now directly owns 108,357 shares in the company, valued at approximately $1,424,895. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on FPI shares. Analysts at BMO Capital Markets initiated coverage on shares of Farmland Partners in a research note on Monday, May 19th. They set an “outperform” rating and a $15.00 price target on the stock. Separately, analysts at Stephens initiated coverage on shares of Farmland Partners in a research note on Wednesday, May 7th. They set an “overweight” rating and a $16.00 price target on the stock. Finally, analysts at Janney Montgomery Scott initiated coverage on shares of Farmland Partners in a research note on Wednesday, May 7th. They set a “buy” rating and a $15.00 price target on the stock.
Shares of Farmland Partners (NYSE:FPI) opened at 13.09 on Friday. Farmland Partners has a 1-year low of $11.81 and a 1-year high of $14.00. The stock’s 50-day moving average is $13.10 and its 200-day moving average is $13.10. The company’s market cap is $52.5 million.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Friday, June 27th.
Farmland Partners Inc is an internally managed real estate company that owns and seeks to acquire primary row crop farmland located in agricultural markets throughout North America.
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