Welcome to our dedicated page for Farmland Partners news (Ticker: FPI), a resource for investors and traders seeking the latest updates and insights on Farmland Partners stock.
Farmland Partners Inc (NYSE: FPI) maintains North America's premier agricultural real estate portfolio, combining farmland ownership with strategic operational expertise. This news hub delivers verified updates about FPI's land acquisitions, crop diversification strategies, and financial performance.
Investors and industry stakeholders will find timely reports on quarterly earnings, farmland portfolio expansions, and tenant partnership developments. Our curated collection includes official press releases about lease agreements, sustainability initiatives, and management insights directly from FPI's farmer-founded leadership team.
Key updates cover operational milestones across FPI's 400,000+ acre portfolio, including specialty crop innovations in almonds and citrus, alongside traditional row crop performance. Track the company's unique position at the intersection of agriculture and real estate through verified reports on rental income stability and geographic diversification strategies.
Bookmark this page for direct access to FPI's latest SEC filings, investor communications, and market analyses. Regularly updated content ensures informed decision-making about this NYSE-listed farmland REIT's evolving position in the agricultural real estate sector.
Farmland Partners Inc. (NYSE: FPI) has announced the sale of a 46-farm portfolio, totaling 41,554 acres, for $289 million to Farmland Reserve, Inc. The all-cash transaction is set to close on October 16, 2024. The portfolio spans several states, excluding Illinois farmland. FPI expects a total gain of approximately $50 million, representing a 21% increase over the aggregate net book value.
FPI's President and CEO, Luca Fabbri, emphasized that this sale, following a similar $200 million asset sale in 2023, demonstrates the company's undervalued status and the unrealized intrinsic value of its stock. The company plans to use the proceeds to reduce debt by about $140 million, buy back stock, pursue acquisitions, and potentially make a significant special distribution to shareholders at year-end.
Elizabeth Strom, Vice President of Murray Wise Associates (MWA), has been named the 2024 Land Broker of the Year by the Illinois chapter of the REALTORS® Land Institute (RLI). This prestigious award recognizes Strom's exceptional professionalism, ethics, market knowledge, and client service in the land brokerage industry.
Strom, who joined MWA in 2021, serves farmland buyers and sellers across the Midwest and oversees business development for MWA's farm management division. She holds multiple professional designations and licenses, including Accredited Farm Manager (AFM) and Real Estate Broker in Illinois, Iowa, and Tennessee.
MWA, a leading national agricultural real estate auction and brokerage company, was acquired by Farmland Partners Inc. (NYSE: FPI) in November 2021. The company manages over 45,000 acres of farmland assets across the country.
Farmland Partners Inc. (NYSE: FPI) has announced the appointment of Dr. Bruce Sherrick to its Board of Directors, effective July 23, 2024. Dr. Sherrick, a renowned agricultural economist and farmland expert, brings extensive experience in agricultural economics, farmland investment, and public company board service. He currently holds the Marjorie and Jerry Fruin Professorship at the University of Illinois and runs the TIAA-CREF Center for Farmland Research. Dr. Sherrick's expertise includes credit risk assessment, farmland investment performance tracking, and agricultural finance. His appointment is expected to provide valuable economic insights and a unique perspective to FPI's board, potentially strengthening the company's operational performance and future planning.
Farmland Partners Inc. (NYSE: FPI) reported its Q2 2024 financial results, showing a net loss of $2.1 million ($0.06 per share) compared to a net income of $7.9 million in Q2 2023. The company's AFFO improved to $0.5 million ($0.01 per share), excluding a one-time severance expense, compared to -$1.1 million in the same period last year. Total operating revenues slightly decreased by 1.2%, while operating expenses were reduced by 7.0%. The company's average gross book value of real estate decreased by 10.4% to $1.01 billion due to 2023 dispositions. FPI appointed Susan Landi as CFO and Treasurer, and declared a quarterly cash dividend of $0.06 per share. The company's total debt stood at $393.0 million as of June 30, 2024, with access to $163.8 million in liquidity.
Farmland Partners Inc. (NYSE: FPI) has announced the schedule for its second quarter 2024 earnings release and conference call. The company will release its financial results for the quarter ended June 30, 2024, after 5 p.m. (Eastern Time) on Wednesday, July 24, 2024. A conference call will follow on Thursday, July 25, 2024, at 11:00 a.m. (Eastern Time) to discuss the financial results and provide a company update.
Investors can access the call live by dialing 1-800-715-9871 and using the conference ID 5408499. A live listen-only webcast will also be available through the Investor Relations section of the Company's website. A replay of the conference call will be accessible until August 4, 2024, by dialing 1-800-770-2030 and using the playback ID 5408499. A webcast replay will also be available on the company's website for a time.
Farmland Partners (NYSE: FPI) has announced the promotion of Susan Landi to Chief Financial Officer (CFO) and Treasurer, effective May 28, 2024. Landi, who has been with the company for over four years, will oversee finance, accounting, treasury, and SEC financial reporting functions. She succeeds James Gilligan, who will remain with the company until June 30, 2024, to ensure a smooth transition. This staffing change is part of Farmland Partners' cost-cutting initiative aimed at reducing expenses and improving shareholder returns. Landi's extensive experience includes roles at Moss Adams and Hein & Associates before joining Farmland Partners in 2019.
Farmland Partners Inc. (NYSE: FPI) reported its first quarter 2024 financial results, showing a net income of $1.4 million, AFFO of $2.8 million, and an increase in the 2024 AFFO guidance range to $0.19-$0.26 per share. The company focused on reducing expenses, acquiring new properties, and enhancing its farm portfolio. FPI declared a quarterly dividend of $0.06 per share of common stock and Class A Common OP unit. The company had total debt outstanding of $383.0 million at the end of March 2024 and access to liquidity of $185.1 million. FPI also announced a conference call scheduled for May 1, 2024, to discuss the financial results and provide an update.
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