Farmland Partners Inc Stock Price, News & Analysis

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.

Farmland Partners Inc. (NYSE: FPI) has announced significant developments in its solar projects on Illinois farms, with power production set to begin as early as December 2021. The two main projects cover 432 and 1,542 acres, expected to increase rental income from an average of $245 per acre to $570 once fully operational. Additionally, a third project in North Carolina is generating $600 per acre in excess revenue. The company plans to diversify its revenue through solar and wind developments, with approximately 20,000 acres under various stages of planning and development.

Farmland Partners Inc. (NYSE: FPI) has acquired 815 acres in Mississippi County, Missouri, for $6.5 million. The farmland is nearly all tillable and will primarily produce rice, corn, and soybeans, leased for three years at a yield of approximately 4%. Additionally, the company purchased two farms in central Illinois, totaling 258 acres, with an expected return of 3.5%. This expansion enhances the company’s portfolio, which currently includes approximately 167,000 acres across 17 states, underscoring its commitment to investing in high-quality farmland.

Farmland Partners Inc. (FPI) reported financial results for the three and nine months ending September 30, 2021. The company faced a net loss of $(3.1) million compared to net income of $1.2 million in the same period of 2020. Affording further scrutiny, AFFO was $(8.5) million, a decline from $(3.2) million year-over-year. Despite these losses, FPI completed five acquisitions totaling $31 million and disposed of seventeen properties yielding a gain of $3.4 million. The Board declared a quarterly dividend of $0.05 per share, payable on January 18, 2022.

Farmland Partners Inc. (NYSE:FPI) will announce its financial results for Q3 2021 on October 27, 2021, at 5:00 p.m. ET. The company will hold a conference call on October 28, 2021, at 11:00 a.m. ET to discuss these results and provide updates. Investors can join by phone or listen via a live webcast on their Investor Relations page. The company currently manages approximately 166,000 acres across 16 states and operates as a REIT.

Farmland Partners Inc. (NYSE: FPI) has appointed Luca Fabbri as President, effective immediately, expanding his role from Chief Financial Officer. Fabbri will oversee portfolio management and growth initiatives. James Gilligan is now Chief Financial Officer and Treasurer, responsible for finance, accounting, and reporting functions. The company's leadership transition aims to accelerate growth, with a management team focused on driving revenue and portfolio expansion. Farmland Partners operates approximately 166,000 acres across 16 states, owning and managing farmland assets.

Farmland Partners Inc. (NYSE:FPI) will hold a conference call on September 30, 2021, at 12:30 p.m. ET to discuss company updates, particularly regarding the 'Series B Preferred Conversion' presentation available on its website. Interested participants can join via phone or listen to a live webcast through the Investor Relations section online. A replay will be accessible until October 14, 2021. The Company manages approximately 166,000 acres across 16 states, making it a key player in the North American farmland market.