Limoneira (LMNR) said Thursday it completed three separate water pumping rights deals in the Santa Paula Basin in California for $1.7 million.
The rights were sold at $30,000 per acre-foot, according to the agribusiness company.
Limoneira said it holds about 21,000 acre-feet of rights across the Santa Paula and Fillmore Basins, the Paso Robles Basin, and Class 3 Colorado River water rights.
Shares of the company were up 3.5% in recent trading.
Price: 23.25, Change: +0.78, Percent Change: +3.47
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