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 appointment of Jennifer Grafton to its Board of Directors, effective March 16, 2023. Grafton brings extensive legal expertise and executive leadership experience, currently serving as Executive Vice President and General Counsel at E2open Parent Holdings, Inc. She has a strong background in corporate governance, ESG, and risk management. Grafton expressed enthusiasm for contributing to the Company’s continued success following a strong performance in 2022. Farmland Partners manages approximately 196,100 acres across 19 states and is positioned as a significant player in the North American farmland sector.
Farmland Partners Inc. announced the elevation of Luca Fabbri as CEO, succeeding Paul Pittman, who will continue as Executive Chairman. This transition is part of a previously approved succession plan. Fabbri co-founded FPI and has been with the company since its inception, previously serving as CFO and President. He holds degrees from the University of Naples and MIT.
FPI manages approximately 196,100 acres across 19 states and operates as a REIT. The company aims to leverage its deep understanding of agriculture as it moves forward under Fabbri's leadership.
Farmland Partners Inc. (NYSE: FPI) reported record financial results for 2022, achieving a net income of $12.0 million ($0.16 per share) compared to $10.3 million for 2021. The company posted Adjusted Funds from Operations (AFFO) of $15.8 million ($0.30 per share), a significant increase from $0.4 million in 2021. FPI reduced its total debt by $73.9 million to $439.5 million and increased liquidity to $176.7 million. The company renewed 95% of its row crop fixed farm rent leases with a 16% average increase. While facing challenges in specialty crops and rising interest costs, FPI remains positive about the farm economy and its business outlook.
Farmland Partners Inc. (NYSE: FPI) will disclose its financial results for the fourth quarter and fiscal year ended December 31, 2022, on February 22, 2023, post 5 p.m. ET. A conference call for discussion will take place on February 23, 2023, at 11:00 a.m. ET. The call can be accessed toll-free via different numbers for the USA, Canada, and other locations, with a passcode of 185046. A replay will be available until March 5, 2023. As of December 31, 2022, FPI owns and manages approximately 196,100 acres across 19 states, focusing on high-quality North American farmland and associated real estate loans.
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.
FAQ
What is the current stock price of Farmland Partners (FPI)?
What is the market cap of Farmland Partners (FPI)?
What does Farmland Partners Inc. do?
Where is Farmland Partners Inc.'s farmland located?
What types of crops are grown on Farmland Partners Inc.'s properties?
How does Farmland Partners Inc. generate revenue?
What is the significance of Farmland Partners Inc.'s management team?
Does Farmland Partners Inc. support sustainable farming practices?
When did Farmland Partners Inc. acquire Murray Wise Associates LLC?
What is the company's strategy for achieving risk-adjusted returns?
How can investors stay updated about Farmland Partners Inc.?
What is the primary goal of Farmland Partners Inc.?
