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 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.
Farmland Partners Inc. (NYSE: FPI) highlights the impact of lower corn and soybean yields in the U.S. Midwest, as revealed by Pro Farmer’s Midwest Crop Tour. The company emphasizes the importance of resilience through investments in farmland improvements amid challenging conditions. CEO Paul Pittman notes that the company's diverse portfolio and investment strategies aim to enhance tenant productivity. The USDA forecasts a $36.4 billion increase in total crop receipts for 2022. Rising grain prices are expected to benefit farmland values and farmers' incomes.
Farmland Partners Inc. (NYSE: FPI) announced the upcoming construction of a solar power project in Clark County, Illinois, spanning six properties and 1,542 acres. The project will enhance rental income, with rents expected to be nearly 50% higher than current farm rates. Construction payments will also exceed this higher rate during the 12-month build. FPI's renewable energy portfolio will grow, already capable of producing over 110 megawatts, sufficient for 20,900 U.S. homes. Energy tenants currently generate nearly $1.5 million annually for FPI.
Farmland Partners Inc. (NYSE:FPI) announced the acquisition of two farms in Illinois totaling 485 acres. The first, a 286-acre farm in Edgar County, was bought for approximately $4.8 million on July 29, while a 199-acre farm in Fulton County was purchased for about $1.8 million on August 1. These acquisitions allow FPI to expand its farmland portfolio and improve efficiencies for its tenants, driving potential rental income and asset appreciation. The company has acquired 11 farms in 2022, covering 3,056 acres, solidifying its position as the largest publicly traded farmland REIT in the U.S.
Farmland Partners Inc. (FPI) reported a significant improvement in its financial performance for Q2 2022, achieving net income of $3 million ($0.04 per share), up from a loss of $2.9 million in Q2 2021. Adjusted Funds from Operations (AFFO) also rose to $1.1 million ($0.02 per share), compared to a loss of $3.6 million the previous year. The company reduced its debt by $38.4 million, maintaining strong liquidity with $51.7 million available. Additionally, FPI renewed over one-third of its expiring leases with rent increases over 15% and successfully had a class action lawsuit dismissed, enhancing its operational outlook.
Farmland Partners Inc. (NYSE: FPI) will release its financial results for Q2 2022 on July 27, 2022, before the U.S. market opens. A conference call is scheduled for the same day at 1:00 p.m. ET to discuss these results and provide updates. The call can be accessed toll-free from the USA at 1-844-200-6205. Farmland Partners owns and manages approximately 185,000 acres across 18 states, focusing on high-quality farmland investments and loans secured by farm real estate.
Farmland Partners Inc. (NYSE:FPI) has acquired 158 acres of farmland in Hamilton County, Nebraska, for
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