New Survey: Farmland Partners’ Tenants Embrace Sustainable Farming Practices
April 25 2022 - 7:10AM
Business Wire
Farmland Partners Inc. (NYSE: FPI) (the “Company” or “FPI”)
today released the results of an internal survey conducted to help
quantify the responsible farming practices being used within the
Company’s portfolio.
“FPI’s tenants include farm families that are leading the way in
sustainability by embracing the latest agronomic techniques,
technologies, and conservation practices to drive efficiency and
preserve the land they farm,” concluded the report.
For example, 97% of survey respondents said that they invest in
soil health; 94% practice conservation tillage; 87% use variable
rate application technology to apply crop inputs; and 51%
participate in federal conservation programs.
The survey also found high adoption rates for other
environmental strategies, such as grassed waterways or buffer
strips to slow runoff and trap soil sediment, planting cover crops,
and the use of diesel exhaust fluid to reduce emissions from farm
equipment.
“It’s important to recognize the role farmland and farmers play
in affordably feeding the world’s growing population in an
environmentally responsible way,” said FPI Chairman and CEO Paul
Pittman. “We’re proud to say that our tenants are leaders in this
movement.”
Pittman said that this survey was used to help in identifying
the agronomic tools and techniques commonly used on farmland owned
and managed by the Company, and that it will continue this type of
communication to better understand tenants’ operations and promote
sustainability.
The survey was sent to 137 FPI tenants across the country – 63%
of whom submitted responses from February 23 to March 31, 2022. The
survey’s results are available at
http://ir.farmlandpartners.com/Tenant-Survey/default.aspx.
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 nearly
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220425005339/en/
Phillip Hayes phayes@farmlandpartners.com
Farmland Partners (NYSE:FPI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Farmland Partners (NYSE:FPI)
Historical Stock Chart
From Apr 2023 to Apr 2024