Paul Pittman, CEO of Farmland Partners Inc (FPI), recently picked up 2,000 more shares. The buy increased his holdings by 0.1 percent, and came to a total purchase price of just under $27,000.
This marks the first insider buy of the year. Pittman was an active buyer late last year with a number of transactions at a slightly lower price. The last insider sale at the company occurred in March of last year.
Overall, insiders at the company own over 9.4 percent of shares.
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The real estate investment trust (REIT) focuses on North American farmland. Shares have been performing strongly in recent weeks, as agricultural prices have surged and as farmland in other parts of the world have become a warzone.
Action to take: While structured as a REIT and required to pay out 90 percent of all income earned, this REIT has a low yield of just 1.5 percent, so income investors may want to look elsewhere. It may be a better play for agricultural trends, which could further drive increased capital gains in the months ahead.
Traders might want to consider the August $17.50 calls. Last going for about $0.20, the option is inexpensive and would require a big boost in shares from here to move in-the-money. But it’s also cheap enough to deliver high double-digit profits or better in the coming months.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.