Farmland Partners Inc Stock Price, News & Analysis

Farmland Partners Inc. (NYSE: FPI) has acquired a 439-acre farm in Colfax County, Nebraska, for approximately $2.6 million. The farm consists of 425 tillable acres, with 350 being pivot irrigated, and is leased back to the seller for one year at a gross capitalization rate of 5.2%. Chairman and CEO Paul Pittman stated this purchase aligns with the company's growth strategy and enhances its property portfolio in Nebraska. U.S. agriculture land has appreciated at a CAGR of about 5.7% since 1970, suggesting potential long-term value increase for the newly acquired property.

Farmland Partners Inc. (NYSE: FPI) has announced the acquisition of a 65-acre corn and soybean farm in Edgar County, Illinois, for $910,000, which will be leased back to the seller for the remainder of the year. This acquisition expands FPI's portfolio to approximately 1,180 acres in the area. In March, FPI also purchased a 369-acre farm in Rock Island County, increasing its holdings to 187 farms across Illinois, covering 38,212 acres. CEO Paul Pittman expressed optimism about future acquisitions and the income potential of the new property.

Farmland Partners Inc. (NYSE: FPI) has acquired 369 acres of farmland in Rock Island County, Illinois, for $3 million. The property features 346 tillable acres under a three-year cash-rent lease, anticipated to yield a 4% annual return alongside asset appreciation. This acquisition enhances FPI's portfolio, now totaling approximately 5,620 acres in the area, all farmed by a single tenant known for high productivity. FPI is recognized as the largest publicly traded farmland REIT by U.S. acreage, managing about 186,400 acres across 19 states.

Farmland Partners Inc. (NYSE: FPI) has initiated a $3.5 million loan to a Colorado farming family under its FPI Loan Program, with a repayment term of three years and a loan-to-value ratio of approximately 50%. This program aims to provide flexible financing options for farmers who struggle with traditional banking limitations. The company targets loan amounts between $500,000 and $10 million, emphasizing its commitment to support agricultural growth while enhancing shareholder value.

Farmland Partners Inc. (NYSE: FPI) reported a successful 2021, highlighting a 12% increase in Q4 total operating revenue, reaching $20.0 million. Net income grew to $13.2 million and Adjusted Funds from Operations (AFFO) surged 78% to $8.9 million compared to 2020. The company also converted $120.5 million in preferred stock to common stock, enhancing cash flow. FPI completed 12 property acquisitions totaling $81.2 million and achieved a $9.3 million gain from property disposals. The company declared a quarterly dividend of $0.05 per share.

Farmland Partners Inc. (NYSE: FPI) announced it will release its financial results for the fourth quarter and fiscal year ended December 31, 2021, on February 22, 2022, after 5 p.m. Eastern Time. The company will hold a conference call on February 23, 2022, at 11:00 a.m. Eastern Time to discuss these results. The call can be accessed via a toll-free phone number or through a live webcast on the company's website. Farmland Partners owns and manages approximately 186,000 acres across 19 states and has been taxed as a real estate investment trust since 2014.

Farmland Partners Inc. (NYSE: FPI) announced the acquisition of a 177-acre farm in Mercer County, Illinois, for $1.475 million on January 28, 2022. This farm is expected to yield an annual return of 3.6% through an existing three-year cash lease. CEO Paul Pittman highlighted the strategic importance of this acquisition as part of FPI's expansion plans, aiming to enhance their portfolio, which now includes 185 farms across Illinois totaling 38,343 acres. The purchase marks a promising start to 2022 for the company, reinforcing its position as the largest publicly traded farmland REIT in the U.S.

Winstead PC announced a significant legal victory for its client, Sabrepoint Capital Management, in a lawsuit initiated by Farmland Partners, Inc. (NYSE: FPI). The court dismissed FPI's claims against Sabrepoint, ruling that Sabrepoint was not liable for a Seeking Alpha article that sparked the litigation. The court's decision came after Sabrepoint moved for summary judgment, asserting that the factual issues were previously determined in a related Colorado case. Sabrepoint is entitled to recover its attorney fees under the Texas Citizens Participation Act.

Farmland Partners Inc. (NYSE: FPI) announced the completion of the second stage of a three-part conservation deal with Ducks Unlimited for approximately 1,268 acres in Virginia. The transaction, aimed at habitat restoration, includes a total of three tracts, with gross proceeds projected at $8 million and an anticipated gain of around $800,000 relative to book value. The first tract was sold in January 2021, and the second was completed on December 17, 2021. The final tract is expected to close by November 30, 2023. The deal highlights FPI's commitment to environmental conservation and shareholder value.