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An update from Farmland ( (FPI) ) is now available.
Farmland Partners Inc. has struck a deal to sell a 46-farm portfolio, totaling 41,554 acres, to Farmland Reserve, Inc. for $289 million. Set to close on October 16, 2024, the transaction is part of a strategic move by Farmland Partners to reallocate capital, aiming to cut debt, repurchase stock, and fund acquisitions. The sale, which does not include their highly valued Illinois farmland, will result in a $50 million gain over net book value, reinforcing the company’s message of undervalued assets and its commitment to delivering shareholder value.
See more data about FPI stock on TipRanks’ Stock Analysis page.