Farmland Partners Inc Stock Price, News & Analysis

Farmland Partners Inc. (NYSE: FPI) announced the acquisition of a 166-acre corn and soybean farm in Bureau County, Illinois, for $2.4 million. The farm features a grain bin with a capacity of 16,000 bushels and is located in a region noted for profitable production. FPI's portfolio now includes 220 farms across the U.S. Corn Belt, totaling 44,700 acres. The company emphasizes its ongoing search for high-quality farmland and highlights the property's favorable soils and market access.

Farmland Partners Inc. (NYSE: FPI) announced its inclusion in the MSCI US REIT Index (RMZ) effective May 31, 2022. This index is widely used to measure the performance of equity REITs. Chairman and CEO Paul Pittman emphasized that this milestone highlights the company's growth strategy and aims to enhance visibility among investors, potentially attracting additional capital.

As of now, Farmland Partners owns or manages about 185,000 acres across 19 states, focusing on high-quality farmland and loans secured by real estate.

Farmland Partners Inc. (NYSE: FPI) reported Q1 2022 results showing a net income of $1.1 million, down from $2.5 million in Q1 2021. However, adjusted funds from operations (AFFO) surged over 200% to $3.0 million compared to $0.9 million in the same quarter last year. The company decreased its debt by $48.4 million and announced a 20% increase in its quarterly dividend to $0.06 per share, effective July 2022. A recent legal victory involved the dismissal of a class action lawsuit, enhancing the company's outlook amidst ongoing challenges in global agriculture due to geopolitical tensions.

Farmland Partners Inc. (NYSE: FPI) will announce its financial results for Q1 2022 on May 3, 2022, after 5 p.m. Eastern Time. A conference call to discuss these results will occur on May 4, 2022, at 11:00 a.m. Eastern Time. Interested parties can listen live via phone or through the Company's website. Farmland Partners manages approximately 185,000 acres across 19 states and specializes in owning and acquiring high-quality farmland and providing loans to farmers. The Company operates as a REIT for tax purposes since 2014.

Farmland Partners Inc. (NYSE: FPI) has sold approximately 303 acres of farmland in North Carolina to a solar developer for $4 million, realizing a net gain of nearly $2.3 million, or 132%. The parcel was acquired in 2015 as part of a larger 944-acre farm. The company plans to continue leasing the remaining land to a local farmer. This sale aligns with FPI's strategy to collaborate with renewable energy producers, which includes leasing land for solar and wind projects capable of generating over 110 megawatts of electricity.

Farmland Partners Inc. (NYSE: FPI) has acquired a 439-acre farm in Colfax County, Nebraska, for approximately $2.6 million. The farm consists of 425 tillable acres, with 350 being pivot irrigated, and is leased back to the seller for one year at a gross capitalization rate of 5.2%. Chairman and CEO Paul Pittman stated this purchase aligns with the company's growth strategy and enhances its property portfolio in Nebraska. U.S. agriculture land has appreciated at a CAGR of about 5.7% since 1970, suggesting potential long-term value increase for the newly acquired property.

Farmland Partners Inc. (NYSE: FPI) has announced the acquisition of a 65-acre corn and soybean farm in Edgar County, Illinois, for $910,000, which will be leased back to the seller for the remainder of the year. This acquisition expands FPI's portfolio to approximately 1,180 acres in the area. In March, FPI also purchased a 369-acre farm in Rock Island County, increasing its holdings to 187 farms across Illinois, covering 38,212 acres. CEO Paul Pittman expressed optimism about future acquisitions and the income potential of the new property.

Farmland Partners Inc. (NYSE: FPI) has acquired 369 acres of farmland in Rock Island County, Illinois, for $3 million. The property features 346 tillable acres under a three-year cash-rent lease, anticipated to yield a 4% annual return alongside asset appreciation. This acquisition enhances FPI's portfolio, now totaling approximately 5,620 acres in the area, all farmed by a single tenant known for high productivity. FPI is recognized as the largest publicly traded farmland REIT by U.S. acreage, managing about 186,400 acres across 19 states.