Farmland Partners Inc Stock Price, News & Analysis

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.

Farmland Partners Inc. (NYSE: FPI) announced the acquisition of two farms in eastern Louisiana, totaling over 8,000 acres. This raises the company's total holdings in the state to 17,000 acres. The larger farm, located in Avoyelles Parish, spans 7,273 acres and was purchased for $25.1 million. The second farm covers 732 acres and cost $3.6 million. These farms are expected to yield annual returns of 3.5% to 4% based on historical crop production and pricing. FPI now manages approximately 187,000 acres across 18 states, reinforcing its position as the largest publicly traded farmland REIT.

Farmland Partners (NYSE: FPI) announced the acquisition of over 1,400 acres of farmland, expanding its portfolio to approximately 179,000 acres across 18 states. The first purchase, 1,287 acres in Colorado, cost $5.6 million with a three-year lease at a 5% yield. The next acquisition, a 166-acre citrus farm in California, was bought for $6 million, including existing crops. CEO Paul Pittman emphasized growth in high-quality farms as a core strategy to generate stable income and land appreciation for investors.

Farmland Partners Inc. (NYSE: FPI) has appointed Danny Moore, a U.S. Navy veteran, to its Board of Directors, effective November 30. Moore brings extensive operational experience from his military and aerospace careers, including a role at BAE Systems and ownership of consulting firms serving the Department of Defense. With this addition, the board now comprises eight members, six of whom are independent. Moore expressed enthusiasm for joining during a period of growth, citing recent acquisitions and positive trends in farmland appreciation.

Farmland Partners Inc. (NYSE: FPI) announced the acquisition of Murray Wise Associates LLC (MWA) for $5 million in cash and $3 million in stock. This deal enhances FPI's farmland investment platform by adding approximately 16,700 acres and diversifying revenue streams through expanded asset management services. MWA, founded by farmland investment pioneer Murray Wise, has a strong history of managing over $1 billion in assets. The transaction is projected to be modestly accretive to FPI's Adjusted Funds From Operations, with greater benefits anticipated in the medium to long term as synergies develop.