Farmland Partners Inc Stock Price, News & Analysis

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.

Farmland Partners Inc. announced the conversion of its 6.00% Series B preferred stock into common stock, with a conversion date set for October 4, 2021. The conversion will yield approximately 12.1 million shares of common stock, reflecting a conversion premium of 45.2%. This move is expected to enhance the common equity market capitalization by over 35% and simplify the company's capital structure while reducing leverage. Holders of the converted shares will be eligible for quarterly dividends, and the Series B stock will be delisted from the NYSE post-conversion.

Farmland Partners Inc. (NYSE: FPI) reported no significant damage to its farms from Hurricanes Ida and Nicholas, despite severe weather in the Delta region. The company shared updates on lease renewals, indicating that approximately 40,100 acres (27% of its owned portfolio) are up for renewal in 2021, with 23,250 acres (59% of renewals) completed. The renewal trends show a weighted average increase of 10-11%. These renewals are set to begin contributing to revenue more significantly in 2022 and beyond. The next earnings call will provide further updates.

Farmland Partners Inc. (NYSE: FPI) announced a $29 million investment through its Promised Land Opportunity Zone Farms I, LLC, acquiring a farm in eastern North Carolina. This acquisition brings the OZ Fund's total portfolio value to approximately $53 million, covering around 8,300 acres across four states. The company increased its membership interest in the OZ Fund to about 10%, aiming to leverage its asset management capabilities for shareholder value through management fees.

Promised Land Opportunity Zone Farms I, LLC acquired 4,528 acres of cropland in eastern North Carolina for $29 million. This strategic investment aims to boost economic activity and labor opportunities in the area. The newly added land enhances Promised Land's portfolio to approximately $53 million, spanning 8,300 acres across multiple states, including North Carolina and Illinois. The farmland includes over 4,000 tillable acres and is poised for capital improvements such as drainage, irrigation, and grain storage. Farmland Partners Inc. (NYSE: FPI) manages the property, leveraging scalable investment opportunities.