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0 0 0.00541516245487353 0.00541516245487353 0.00541516245487353 0.000902527075812095 0.000902527075812095 0.000902527075812095
Stock impact report

Farmland Partners Completes $289 Million Farmland Sale

Farmland Partners Inc. (FPI) 
NASDAQ:AMEX Investor Relations: ir.farmlandpartners.com
Company Research Source: Business Wire
Transaction Generated Approximate $50 Million Gain Over Net Book Value DENVER--(BUSINESS WIRE)--Farmland Partners Inc. (NYSE: FPI) (the “Company” or “FPI”) today confirmed that the recently announced sale of a portfolio of farmland to Farmland Reserve, Inc. (“Farmland Reserve”) closed as scheduled on October 16, 2024 (the “Transaction”).The portfolio sold to Farmland Reserve consisted of 46 farms, comprising 41,554 acres of farmland in Arkansas, Florida, Louisiana, Mississippi, Nebraska, Oklahoma, and the Carolinas. The $289 million all-cash Transaction generated a total gain for FPI of approximately $50 million, or approximately 21 percent over the aggregate net book value of the farms within the portfolio.FPI has already used $146.6 million of the proceeds from the Transaction to reduce its debt, and further debt reductions are being considered. In addition, remaining capital may be deployed for stock buybacks, new farmland acquisitions, and other corporate purposes. FPI also exp Show less Read more
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