Farmland Partners Trading Up 4.9% on Insider Buying Activity (FPI)
Farmland Partners (NYSE:FPI) was up 4.9% during trading on Thursday following insider buying activity, AmericanBankingNews.com reports. The stock traded as high as $11.86 and last traded at $11.64, with a volume of 83,075 shares trading hands. The stock had previously closed at $11.10.
Specifically, CEO Paul A. Pittman acquired 8,000 shares of Farmland Partners stock in a transaction dated Wednesday, August 20th. The stock was purchased at an average price of $11.15 per share, with a total value of $89,200.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
The stock’s 50-day moving average is $12.14 and its 200-day moving average is $12.71. The company’s market cap is $45.8 million.
Farmland Partners (NYSE:FPI) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.04 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.07 by $0.03. Analysts expect that Farmland Partners will post $-0.13 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Monday, September 29th.
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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