Farmland Partners (FPI) Tops Q3 EPS by 6c; Announces Farmland Acquisition in Illinois
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Farmland Partners Inc. Announces Third Quarter AFFO Per Share of $0.11 - a 101% Year-Over-Year Increase
November 9, 2015 6:28 PM ESTDENVER, Nov. 9, 2015 /PRNewswire/ -- Farmland Partners Inc. (NYSE: FPI) (the "Company") today reported financial results for the quarter ended September 30, 2015.
Third Quarter Highlights
Reported Adjusted Funds from Operations ("AFFO") per fully diluted weighted average share of $0.11 for the quarter ended September 30, 2015, a 101% increase over the same quarter from the prior year Reported operating revenues of $4.2 million, a 230% increase over the same quarter from the prior year Closed on, or entered into contracts for, the acquisition of 3,923 acres for an aggregate purchase price of $19.3... MoreFarmland Partners Inc. Announces Agreement for Acquisition of Approximately 22,300 Acres in Illinois for $197 Million
November 9, 2015 5:13 PM ESTDENVER, Nov. 9, 2015 /PRNewswire/ -- Farmland Partners Inc. (NYSE: FPI) (the "Company") today 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 Units ("Preferred OP Units").
The 2,608,695 shares common stock and OP Units to be issued... More
