Welcome to our dedicated page for Farmland Partners news (Ticker: FPI), a resource for investors and traders seeking the latest updates and insights on Farmland Partners stock.
Farmland Partners Inc. (NYSE: FPI) is an internally managed real estate company focused on owning and acquiring high-quality North American farmland. Founded by farmers, the management team brings years of hands-on farm operations experience, aligning with top-quality operators across the United States. This strategy helps build a diverse portfolio of agricultural assets.
FPI's core business involves purchasing and leasing farmland properties. The company generates revenue primarily from rental income received from tenants. The portfolio includes land used for growing primary crops such as corn, soybeans, wheat, rice, and cotton, as well as specialty crops like almonds, citrus, blueberries, and vegetables.
As of March 28, 2016, Farmland Partners owned 258 farms spanning 108,163 acres across 13 states, including Arkansas, Colorado, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, Texas, and Virginia. These assets offer stable rental income and potential value appreciation, providing an attractive risk-adjusted return over time.
FPI also makes loans to farmers, secured by farm real estate, further diversifying its revenue streams and supporting the agricultural community. The company's recent achievements include acquiring Murray Wise Associates LLC in November 2021, a leading national agricultural real estate auction and brokerage company.
Farmland Partners continues to expand its footprint and capabilities by leveraging its extensive industry knowledge and strategic partnerships. With a focus on sustainable farming practice, the company supports innovative agricultural operations like hydroponic growing systems, which conserve water and improve crop yields.
Investors can find the latest updates and news about Farmland Partners Inc. on various platforms, including StockTitan, ensuring they stay informed about the company's performance and developments.
Farmland Partners Inc. (NYSE: FPI) reported its Q2 2024 financial results, showing a net loss of $2.1 million ($0.06 per share) compared to a net income of $7.9 million in Q2 2023. The company's AFFO improved to $0.5 million ($0.01 per share), excluding a one-time severance expense, compared to -$1.1 million in the same period last year. Total operating revenues slightly decreased by 1.2%, while operating expenses were reduced by 7.0%. The company's average gross book value of real estate decreased by 10.4% to $1.01 billion due to 2023 dispositions. FPI appointed Susan Landi as CFO and Treasurer, and declared a quarterly cash dividend of $0.06 per share. The company's total debt stood at $393.0 million as of June 30, 2024, with access to $163.8 million in liquidity.
Farmland Partners Inc. (NYSE: FPI) has announced the schedule for its second quarter 2024 earnings release and conference call. The company will release its financial results for the quarter ended June 30, 2024, after 5 p.m. (Eastern Time) on Wednesday, July 24, 2024. A conference call will follow on Thursday, July 25, 2024, at 11:00 a.m. (Eastern Time) to discuss the financial results and provide a company update.
Investors can access the call live by dialing 1-800-715-9871 and using the conference ID 5408499. A live listen-only webcast will also be available through the Investor Relations section of the Company's website. A replay of the conference call will be accessible until August 4, 2024, by dialing 1-800-770-2030 and using the playback ID 5408499. A webcast replay will also be available on the company's website for a time.
Farmland Partners (NYSE: FPI) has announced the promotion of Susan Landi to Chief Financial Officer (CFO) and Treasurer, effective May 28, 2024. Landi, who has been with the company for over four years, will oversee finance, accounting, treasury, and SEC financial reporting functions. She succeeds James Gilligan, who will remain with the company until June 30, 2024, to ensure a smooth transition. This staffing change is part of Farmland Partners' cost-cutting initiative aimed at reducing expenses and improving shareholder returns. Landi's extensive experience includes roles at Moss Adams and Hein & Associates before joining Farmland Partners in 2019.
Farmland Partners Inc. (NYSE: FPI) reported its first quarter 2024 financial results, showing a net income of $1.4 million, AFFO of $2.8 million, and an increase in the 2024 AFFO guidance range to $0.19-$0.26 per share. The company focused on reducing expenses, acquiring new properties, and enhancing its farm portfolio. FPI declared a quarterly dividend of $0.06 per share of common stock and Class A Common OP unit. The company had total debt outstanding of $383.0 million at the end of March 2024 and access to liquidity of $185.1 million. FPI also announced a conference call scheduled for May 1, 2024, to discuss the financial results and provide an update.
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