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) announced the acquisition of 291 acres of farmland in Schuyler County, Illinois, for $2.16 million at an auction on November 29. This property is strategically located near another FPI farm, which is expected to enhance operational efficiency and rental rates. The new farmland is leased to the existing tenant of a nearby FPI farm, promising strong rental income and potential asset appreciation, given that Illinois agricultural land has averaged 5.7% annual appreciation since 1970. As of now, FPI owns and manages approximately 195,000 acres across 19 states.
Farmland Partners Inc. (NYSE: FPI) has announced the acquisition of a 3,843-acre farm in Texas for $12.1 million, marking its first purchase in the state since 2020. The farm, located in Dallam and Hartley Counties, focuses on producing potatoes, corn, and wheat. FPI emphasizes the significance of this acquisition, which includes a favorable lease with CSS Farms, a major potato grower. Historically, Texas agricultural land has averaged 5.7% annual appreciation since 1970, suggesting strong future value.
Farmland Partners Inc. (NYSE: FPI) has announced that President
Farmland Partners Inc. (NYSE: FPI) reported significant improvements in financial performance for Q3 2022, including a net income of $1.1 million, up from a loss of $2.7 million in Q3 2021. The company also achieved an increase in AFFO to $2.5 million versus a loss of $3.2 million in the previous year. Debt decreased by $16 million, and approximately 60% of leases were renewed with over 15% average rent increases. The company has raised its AFFO guidance for 2022 to between $0.27 and $0.31 per share. A new $75 million line of credit was secured to bolster liquidity.
Farmland Partners Inc. (NYSE: FPI) will release its financial results for the quarter ended September 30, 2022, on October 25, 2022, before the U.S. market opens. A conference call will take place on the same day at 1:00 p.m. (Eastern Time) to discuss these results and provide updates. Interested parties can access the call toll-free or via a live webcast on the company's Investor Relations website. Farmland Partners owns approximately 190,000 acres across 18 states and is a REIT focused on farmland acquisition and loans to farmers.
Farmland Partners Inc. (NYSE:FPI) announced the acquisition of two parcels of farmland totaling 270 acres in Edgar County, Illinois, on October 7. The company invested $1.32 million for 82 acres and $2.04 million for 188 acres. This acquisition expands FPI's contiguous farmland holdings to over 1,200 acres and is expected to enhance rental income and asset appreciation. Agricultural land in Illinois has historically appreciated at 5.7% annually. FPI aims to leverage these acquisitions to secure higher rental rates while benefiting shareholders.
Farmland Partners Inc. (NYSE: FPI) has acquired 161 acres of cropland in Benton County, Indiana, for approximately $2.1 million. This marks the company's first purchase in Indiana, signaling plans for further acquisitions in the area. The farm is expected to generate strong rental income through the end of the year, and its historical productivity suggests potential for asset appreciation. Agricultural land in Indiana has shown an average annual appreciation rate of 5.9% since 1970, according to USDA data.
Redeux Energy Partners announced significant advancements in their utility-scale solar and energy storage developments, exceeding 2022 goals in market coverage and project capacity. The company formed a multi-state land lease with Farmland Partners Inc. (NYSE: FPI) to develop projects across 2,800 acres in Arkansas and Mississippi. With a pipeline exceeding 1.7 GW, Redeux aims for 2 GW by year-end, a 400% increase from 2021. Five new senior team members have been added, enhancing their expertise and operational capacity to meet clean energy demands.
Farmland Partners Inc. (NYSE: FPI) has expanded its asset management portfolio by acquiring an additional 4,488 acres and reinforcing its brokerage operations with the hire of William Hughes as Director of Acquisitions. Hughes brings nearly 25 years of experience in agriculture and real estate, previously leading U.S. Agri-Services Group LLC. FPI now manages nearly 30,000 acres for third parties and owns over 160,000 acres across the U.S. This strategic move aims to enhance FPI's capabilities and growth potential in farmland management.
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