Farmland Partners Inc. Announces Agreement for Acquisition of Approximately 22,300 Acres in Illinois for $197 Million

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Go back to Farmland Partners Inc. Announces Agreement for Acquisition of Approximately 22,300 Acres in Illinois for $197 Million

Farmland Partners (FPI) Tops Q3 EPS by 6c; Announces Farmland Acquisition in Illinois

November 10, 2015 7:49 AM EST

Farmland Partners (NYSE: FPI) reported Q3 EPS of $0.11, $0.06 better than the analyst estimate of $0.05. Revenue for the quarter came in at $4.17 million versus the consensus estimate of $3.51 million.

The company also announced that it has entered into a purchase agreement to acquire approximately 22,300 acres of farmland in Illinois for a total purchase price of $197 million. The consideration consists of $50 million in cash, a combination of common stock of the Company and common units of limited partnership interest in the Company's operating partnership ("OP Units") valued at $30 million and $117 million in newly classified preferred OP... More