Farmland Partners (NYSE:FPI) Shares Gap Up Following Analyst Upgrade

Farmland Partners Inc. (NYSE:FPIGet Rating)’s share price gapped up before the market opened on Thursday after Raymond James raised their price target on the stock from $15.00 to $17.00. The stock had previously closed at $14.53, but opened at $14.83. Raymond James currently has an outperform rating on the stock. Farmland Partners shares last traded at $14.59, with a volume of 2,517 shares changing hands.

FPI has been the subject of several other reports. Roth Capital initiated coverage on Farmland Partners in a report on Tuesday, June 21st. They set a “buy” rating and a $16.00 price target for the company. StockNews.com upgraded Farmland Partners from a “sell” rating to a “hold” rating in a report on Tuesday, August 30th.

Institutional Investors Weigh In On Farmland Partners

Several large investors have recently bought and sold shares of the business. Daiwa Securities Group Inc. increased its holdings in Farmland Partners by 10.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 8,577 shares of the financial services provider’s stock worth $118,000 after buying an additional 815 shares in the last quarter. Van ECK Associates Corp increased its holdings in Farmland Partners by 28.5% in the 1st quarter. Van ECK Associates Corp now owns 4,934 shares of the financial services provider’s stock worth $68,000 after buying an additional 1,094 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Farmland Partners by 5.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 30,910 shares of the financial services provider’s stock worth $437,000 after buying an additional 1,500 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Farmland Partners in the 4th quarter worth about $30,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Farmland Partners by 3.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 74,790 shares of the financial services provider’s stock worth $1,029,000 after buying an additional 2,655 shares in the last quarter. 42.52% of the stock is currently owned by institutional investors.

Farmland Partners Trading Down 1.2 %

The firm has a fifty day moving average of $14.44 and a 200 day moving average of $14.26. The company has a market capitalization of $779.16 million, a P/E ratio of 1,435.00 and a beta of 0.72.

Farmland Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Saturday, October 1st will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.67%. Farmland Partners’s dividend payout ratio is currently 2,400.00%.

Farmland Partners Company Profile

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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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