News headlines about Farmland Partners (NYSE:FPI) have been trending somewhat positive on Wednesday, Accern reports. Accern identifies positive and negative media coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Farmland Partners earned a coverage optimism score of 0.15 on Accern’s scale. Accern also gave headlines about the financial services provider an impact score of 45.1887140541523 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Several equities research analysts recently weighed in on FPI shares. Robert W. Baird cut Farmland Partners from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $10.00 to $9.00 in a research note on Tuesday, August 15th. Zacks Investment Research upgraded Farmland Partners from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Tuesday, September 19th. Stifel Nicolaus restated a “buy” rating and set a $9.25 target price (down previously from $10.00) on shares of Farmland Partners in a research note on Monday, September 25th. Raymond James Financial, Inc. started coverage on Farmland Partners in a research note on Monday, September 18th. They set a “market perform” rating for the company. Finally, BidaskClub upgraded Farmland Partners from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $9.95.
Shares of Farmland Partners (FPI) traded up 1.00% during midday trading on Wednesday, reaching $9.10. The company’s stock had a trading volume of 130,012 shares. The company’s 50-day moving average price is $9.00 and its 200 day moving average price is $9.45. Farmland Partners has a 1-year low of $8.06 and a 1-year high of $11.97. The firm has a market capitalization of $296.13 million, a PE ratio of 162.50 and a beta of 0.20.
The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Monday, October 2nd were issued a dividend of $0.127 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date was Friday, September 29th. Farmland Partners’s dividend payout ratio is presently 425.04%.
In other news, General Counsel Erica Borenstein bought 3,000 shares of Farmland Partners stock in a transaction on Thursday, August 17th. The shares were bought at an average price of $8.45 per share, with a total value of $25,350.00. Following the acquisition, the general counsel now directly owns 19,404 shares in the company, valued at approximately $163,963.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have acquired 8,000 shares of company stock worth $67,450. 2.76% of the stock is currently owned by company insiders.
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About Farmland Partners
Farmland Partners, Inc is an internally managed real estate company. The Company owns and seeks to acquire farmland located in agricultural markets throughout North America. The Company is the sole member of the general partner of Farmland Partners Operating Partnership, LP (the Operating Partnership).
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