FBR Capital Markets Initiates Coverage on Farmland Partners (FPI)
FBR Capital Markets started coverage on shares of Farmland Partners (NYSE:FPI) in a research note issued on Thursday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $13.50 price target on the stock. FBR Capital Markets’ price target would indicate a potential upside of 13.26% from the company’s current price.
In other Farmland Partners news, CEO Paul A. Pittman purchased 5,550 shares of Farmland Partners stock on the open market in a transaction that occurred on Tuesday, August 26th. The stock was purchased at an average price of $11.51 per share, for a total transaction of $63,880.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Farmland Partners (NYSE:FPI) traded up 0.10% on Thursday, hitting $11.932. 13,400 shares of the company’s stock traded hands. Farmland Partners has a one year low of $10.21 and a one year high of $14.00. The stock has a 50-day moving average of $11.96 and a 200-day moving average of $12.65. The company’s market cap is $45.3 million.
Farmland Partners (NYSE:FPI) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.07 by $0.03. On average, analysts predict that Farmland Partners will post $0.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Stockholders of record on Wednesday, October 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 3.52%. The ex-dividend date of this dividend 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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