Farmland Partners Inc. (NYSE: FPI) (the “Company” or “FPI”) yesterday purchased a 439-acre farm located in Colfax County, Nebraska, for approximately $2.6 million.

The corn and soybean farm includes 425 tillable acres, 350 of which are pivot irrigated. It is being rented back to the seller on a one-year lease with a gross capitalization rate of 5.2 percent.

“Our Company is in growth mode and this purchase is exactly what we’re seeking for our investors,” said FPI Chairman and CEO Paul Pittman. “It was acquired at a fair price in an appreciating market, it has a high-yielding lease, and it further diversifies our holdings in Nebraska and across the country.”

FPI also expects the value of the newly acquired farmland to grow over the long-term. U.S. agriculture land has appreciated at a compound annual growth rate of approximately 5.7 percent since 1970, based on U.S. Department of Agriculture data.

The deal comes on the heels of two farmland purchases in Illinois within the past week, and Pittman noted that the Company is actively working on additional acquisitions.

FPI is the nation’s largest publicly traded farmland REIT by U.S. acreage. It now owns 30 farms in Nebraska across 8 counties.

About Farmland Partners Inc.

Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate. As of the date of this release, the Company owns and/or manages approximately 187,000 acres in 19 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, North Carolina, South Carolina, South Dakota and Virginia. We have approximately 26 crop types and more than 100 tenants. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014. Additional information: www.farmlandpartners.com or (720) 452-3100.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the federal securities laws, including, without limitation, statements with respect to expected yields on acquired farmland, our outlook, proposed and pending acquisitions and dispositions, the potential impact of trade disputes and recent extreme weather events on the Company's results, financing activities, crop yields and prices and anticipated rental rates. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" or similar expressions or their negatives, as well as statements in future tense. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, beliefs and expectations, such forward-looking statements are not predictions of future events or guarantees of future performance and our actual results could differ materially from those set forth in the forward-looking statements. Some factors that might cause such a difference include the following: general volatility of the capital markets and the market price of the Company's common stock, changes in the Company's business strategy, availability, terms and deployment of capital, the Company's ability to refinance existing indebtedness at or prior to maturity on favorable terms, or at all, availability of qualified personnel, changes in the Company's industry, interest rates or the general economy, adverse developments related to crop yields or crop prices, the degree and nature of the Company's competition, the timing, price or amount of repurchases, if any, under the Company's share repurchase program, the ability to consummate acquisitions or dispositions under contract and the other factors described in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, and the Company's other filings with the Securities and Exchange Commission. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

Phillip Hayes, phayes@farmlandpartners.com

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