Insider Buying: Farmland Partners CEO Buys 2,000 Shares of Stock (FPI)
Farmland Partners (NYSE:FPI) CEO Paul A. Pittman purchased 2,000 shares of the stock in a transaction dated Thursday, June 5th. The shares were purchased at an average cost of $13.06 per share, for a total transaction of $26,120.00. Following the completion of the purchase, the chief executive officer now directly owns 110,357 shares in the company, valued at approximately $1,441,262. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.
FPI has been the subject of a number of recent research reports. 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.
Farmland Partners (NYSE:FPI) opened at 13.15 on Friday. Farmland Partners has a one year low of $11.81 and a one year high of $14.00. The stock’s 50-day moving average is $13.0 and its 200-day moving average is $13.10. The company’s market cap is $52.8 million.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.