Farmland Partners Inc Stock Price, News & Analysis

Farmland Partners Inc. (NYSE: FPI) will disclose its financial results for the fourth quarter and fiscal year ended December 31, 2022, on February 22, 2023, post 5 p.m. ET. A conference call for discussion will take place on February 23, 2023, at 11:00 a.m. ET. The call can be accessed toll-free via different numbers for the USA, Canada, and other locations, with a passcode of 185046. A replay will be available until March 5, 2023. As of December 31, 2022, FPI owns and manages approximately 196,100 acres across 19 states, focusing on high-quality North American farmland and associated real estate loans.

Farmland Partners Inc. (NYSE: FPI) announced the acquisition of 291 acres of farmland in Schuyler County, Illinois, for $2.16 million at an auction on November 29. This property is strategically located near another FPI farm, which is expected to enhance operational efficiency and rental rates. The new farmland is leased to the existing tenant of a nearby FPI farm, promising strong rental income and potential asset appreciation, given that Illinois agricultural land has averaged 5.7% annual appreciation since 1970. As of now, FPI owns and manages approximately 195,000 acres across 19 states.

Farmland Partners Inc. (NYSE: FPI) has announced the acquisition of a 3,843-acre farm in Texas for $12.1 million, marking its first purchase in the state since 2020. The farm, located in Dallam and Hartley Counties, focuses on producing potatoes, corn, and wheat. FPI emphasizes the significance of this acquisition, which includes a favorable lease with CSS Farms, a major potato grower. Historically, Texas agricultural land has averaged 5.7% annual appreciation since 1970, suggesting strong future value.

Farmland Partners Inc. (NYSE: FPI) has announced that President Luca Fabbri will succeed Paul Pittman as CEO after the filing of the Annual Report for the fiscal year ended December 31, 2022. Pittman will remain as Executive Chairman. Fabbri, a co-founder and former CFO, has played a significant role in FPI's strategic direction. He expressed enthusiasm for leading the company and ensuring strong risk-adjusted returns for shareholders. FPI manages over 190,000 acres across 18 states, focusing on high-quality farmland acquisition.

Farmland Partners Inc. (NYSE: FPI) reported significant improvements in financial performance for Q3 2022, including a net income of $1.1 million, up from a loss of $2.7 million in Q3 2021. The company also achieved an increase in AFFO to $2.5 million versus a loss of $3.2 million in the previous year. Debt decreased by $16 million, and approximately 60% of leases were renewed with over 15% average rent increases. The company has raised its AFFO guidance for 2022 to between $0.27 and $0.31 per share. A new $75 million line of credit was secured to bolster liquidity.

Farmland Partners Inc. (NYSE: FPI) will release its financial results for the quarter ended September 30, 2022, on October 25, 2022, before the U.S. market opens. A conference call will take place on the same day at 1:00 p.m. (Eastern Time) to discuss these results and provide updates. Interested parties can access the call toll-free or via a live webcast on the company's Investor Relations website. Farmland Partners owns approximately 190,000 acres across 18 states and is a REIT focused on farmland acquisition and loans to farmers.

Farmland Partners Inc. (NYSE:FPI) announced the acquisition of two parcels of farmland totaling 270 acres in Edgar County, Illinois, on October 7. The company invested $1.32 million for 82 acres and $2.04 million for 188 acres. This acquisition expands FPI's contiguous farmland holdings to over 1,200 acres and is expected to enhance rental income and asset appreciation. Agricultural land in Illinois has historically appreciated at 5.7% annually. FPI aims to leverage these acquisitions to secure higher rental rates while benefiting shareholders.

Farmland Partners Inc. (NYSE: FPI) has acquired 161 acres of cropland in Benton County, Indiana, for approximately $2.1 million. This marks the company's first purchase in Indiana, signaling plans for further acquisitions in the area. The farm is expected to generate strong rental income through the end of the year, and its historical productivity suggests potential for asset appreciation. Agricultural land in Indiana has shown an average annual appreciation rate of 5.9% since 1970, according to USDA data.