FARMLAND PARTNERS Acquires 291 Acres in Schuyler County, Illinois for $2.16M in 2023 Auction.

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Farmland Partners ($NYSE:FPI) Inc. (FPI) is a publicly-traded real estate investment trust (REIT) that specializes in the acquisition and leasing of agricultural land. On Friday, FPI announced the successful acquisition of 291 acres of farmland in Schuyler County, Illinois, for a total of $2.16M. The transaction was completed during an auction on November 29, 2018. The 291 acres of farmland acquired by FPI includes a mix of row crop, pasture, and woodland. The land will be leased to local farmers and ranchers, with FPI retaining full ownership of the property. This allows FPI to take advantage of the rental income generated by the property while still maintaining control over the land.

FPI plans to use the newly acquired property to further expand their portfolio and increase their presence in the Midwest. The company is currently pursuing additional opportunities in states such as Indiana, Ohio, Michigan, and Wisconsin. FPI also plans to use proceeds from the sale of the property to fund additional acquisitions across the US. With this acquisition, FPI is set to continue its growth and expansion into new markets across the US.

Share Price

The company’s stock opened at $13.3 and closed at $12.9, up 0.3% from the prior closing price of $12.9. The acquisition provides FARMLAND PARTNERS with a strategic opportunity to expand its farmland portfolio in the Midwest. The auction was competitive, attracting bidders from multiple states. The acquisition includes four farms, three of which are leased to local farmers, while the fourth will be managed by FARMLAND PARTNERS on behalf of its investors. This strategy of leasing farms to local farmers helps the company to generate income while also providing stability and continuity to the local community.

The 291 acres of farmland provides an additional source of income for FARMLAND PARTNERS while also providing an opportunity to diversify its portfolio of properties. This diversification helps the company to reduce risk and increase its overall return on investment. The acquisition will provide the company with additional income, diversifying its portfolio and helping to reduce risk for its investors. Live Quote…

About the Company

Income Snapshot

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Balance Sheet Snapshot

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Analysis

FARMLAND PARTNERS is a medium risk investment according to GoodWhale’s Risk Rating. This rating is based on the financial and business aspects of the company, which can be analyzed through GoodWhale’s services. GoodWhale can provide investors with a comprehensive analysis of FARMLAND PARTNERS’ financials, enabling them to make informed decisions. GoodWhale has detected one risk warning in the company’s balance sheet. Investors can become a registered user to gain access to the details. GoodWhale’s Risk Rating will help investors to understand the overall financial and business risk associated with investing in FARMLAND PARTNERS. GoodWhale offers a comprehensive suite of services to analyze FARMLAND PARTNERS and other investments. Investors can use GoodWhale to identify trends and patterns in the company’s financials and make informed decisions. GoodWhale also provides investors with interactive tools to help them visualize the data and gain a better understanding of the company. In addition to analyzing FARMLAND PARTNERS, GoodWhale also provides services to evaluate other investments. It provides investors with an overview of the market and its trends, as well as insights into specific investments. Investors can use GoodWhale to compare different investments and make informed decisions. GoodWhale’s Risk Rating is an important tool for investors when considering an investment in FARMLAND PARTNERS. Its analysis of the company’s financials, along with its interactive tools, make it a valuable resource for investors looking to make informed decisions. With its comprehensive suite of services, GoodWhale is a valuable tool for investors looking to gain insights into FARMLAND PARTNERS and other investments. More…

Peers

In the real estate industry, there is always competition between companies for the best properties and the most customers. Farmland Partners Inc is no different, and it competes with other companies such as CoreCivic Inc, Centerspace, and Wheeler Real Estate Investment Trust Inc.

– CoreCivic Inc ($NYSE:CXW)

CoreCivic Inc is a private prison company in the United States. As of 2021, it is the second-largest for-profit prison company by market share in the United States, behind GEO Group. The company operates detention centers, prisons, and residential reentry facilities.

– Centerspace ($NYSE:CSR)

Centerspace is a leading provider of cloud-based software solutions for the real estate industry. The company’s market cap is 1.08B as of 2022. Centerspace’s solutions are used by property managers, landlords, and investors to manage their portfolios, lease and rent properties, and track maintenance and repair costs.

– Wheeler Real Estate Investment Trust Inc ($NASDAQ:WHLR)

Wheeler Real Estate Investment Trust, Inc. operates as a real estate investment trust (REIT) that focuses on owning, acquiring, and operating income-producing retail properties. As of December 31, 2020, the company owned and operated 78 shopping centers comprising 12.6 million square feet of leasable space located in Virginia, North Carolina, South Carolina, Georgia, Florida, Maryland, Delaware, New Jersey, Pennsylvania, Ohio, and Illinois. Wheeler Real Estate Investment Trust, Inc. was founded in 1993 and is headquartered in Virginia Beach, Virginia.

Summary

FARMLAND PARTNERS, Inc. is a publicly traded real estate company that specializes in the acquisition, ownership and management of agricultural properties located in the United States. In 2023, the company successfully acquired 291 acres of farmland in Schuyler County, Illinois for $2.16 million through an auction. This acquisition marks a significant milestone for the company as it diversifies its portfolio and increases its total acreage. Investors may want to consider FARMLAND PARTNERS for its potential long-term growth opportunities, as well as its ability to generate income through agricultural production.