The Mormon Church, a massive landholder, just expanded its $2B US farmland portfolio across 8 states [Yahoo! Finance]
Farmland Partners Inc. (FPI)
NASDAQ:AMEX Investor Relations:
ir.farmlandpartners.com
Company Research
Source: Yahoo! Finance
The real estate arm of the Church of Jesus Christ of Latter-day Saints, Utah-based Farmland Reserve Inc., is acquiring the farmland from Denver-based Farmland Partners Inc., a publicly traded real estate investment trust. The transaction, set to close on Oct. 16, involves 41,554 acres of farmland spread across states including Arkansas, Florida, Nebraska, Mississippi and the Carolinas, according to DTN At nearly $7,000 per acre, the sale will hand Farmland Partners a significant windfall. The company expects to pocket a total gain of about $50 million from the sale, or roughly 21% above the book value of the properties. Farmland Partners plans to use the capital to reduce debt by around $140 million, buy back stock and fund future acquisitions. The company is also considering a “significant special distribution” to its shareholders by the end of the year, according to Luca Fabbri, president and CEO of Farmland Partners. Fabbri expressed excitement about the deal and noted tha
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FPI
News
- Farmland Partners Inc. (NYSE: FPI) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- How To Put $100 In Your Retirement Fund Each Month With Farmland Partners [Yahoo! Finance]Yahoo! Finance
- Farmland Partners Inc. (NYSE: FPI) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Farmland Partners Inc. Reports Third Quarter 2024 ResultsBusiness Wire
- Farmland Partners Inc. Announces Date for Third Quarter 2024 Earnings Release and Conference CallBusiness Wire
FPI
Earnings
- 10/30/24 - Beat
FPI
Sec Filings
- 11/12/24 - Form SC
- 11/7/24 - Form SC
- 11/5/24 - Form 4
- FPI's page on the SEC website