FPI - Why Farmland Partners Stock Dropped 15.5% This Past Week
Shares of Farmland Partners (NYSE: FPI) fell 15.5% over the past week, according to data from S&P Global Market Intelligence , after the real estate company issued a tepid growth forecast and warned that its operating earnings could fall sharply in the coming year.
Farmland Properties purchased 20 properties and sold five in 2022. It also acquired land and buildings for four agriculture equipment dealerships.
Demand for farmland remains high, which is enabling the company to successfully lease its properties at attractive rates. Farmland Properties renewed 95% of its row crop fixed farm rent leases that expired in 2022 at an average rent increase of roughly 16%.
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Why Farmland Partners Stock Dropped 15.5% This Past Week