Farmland Partners to Sell $289 Million of Farmland to Farmland Reserve, Inc.
Farmland Partners Inc. (FPI)
NASDAQ:AMEX Investor Relations:
ir.farmlandpartners.com
Company Research
Source: Business Wire
Transaction to Generate an Approximate $50 Million Gain Over Net Book Value DENVER--(BUSINESS WIRE)--Farmland Partners Inc. (NYSE: FPI) (the “Company” or “FPI”) today announced that it is selling a portfolio of 46 farms, comprising 41,554 acres of farmland (the “Portfolio”), for $289 million in a single transaction (“the “Transaction”) with Farmland Reserve, Inc. The all-cash deal has been finalized by both parties and is scheduled to close on October 16, 2024, once all conditions to closing are satisfied.The Portfolio includes farms across several regions and states, including Arkansas, Florida, Louisiana, Mississippi, Nebraska, Oklahoma, and the Carolinas. The Transaction does not include any of the Company’s Illinois farmland, which is among the most valuable land it owns. FPI’s total gain on sale will be approximately $50 million, or approximately 21 percent over the aggregate net book value of the farms comprising the Portfolio. In 2023, FPI also sold approximately $200 millio
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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
- Farmland Partners Inc. Reports Third Quarter 2024 ResultsBusiness Wire
- Farmland Partners Inc. Announces Date for Third Quarter 2024 Earnings Release and Conference CallBusiness Wire
- Farmland Partners Completes $289 Million Farmland Sale [Yahoo! Finance]Yahoo! Finance
- Farmland Partners Completes $289 Million Farmland SaleBusiness Wire
FPI
Earnings
- 10/30/24 - Beat
FPI
Sec Filings
- 11/5/24 - Form 4
- 10/31/24 - Form 10-Q
- 10/30/24 - Form 8-K
- FPI's page on the SEC website