Farmland Partners Inc | 6.00% Series B Participating Preferred Stock (FPI.PRB)

This preferred is marked as having been called.
Prospectus excerpt:  We are offering 5,250,000 shares of our 6.00% Series B Participating Preferred Stock, $0.01 par value per share, or the Series B Participating Preferred Stock. We are organized and conduct our operations to qualify as a real estate investment trust, or REIT, for U.S. federal income tax purposes. To assist us in qualifying as a REIT, among other purposes, our charter generally limits any person from beneficially or constructively owning more than 9.8% in value or number of shares, whichever is more restrictive, of the outstanding shares of any class or series of our capital stock. Liquidation Preference and Farmland Value Appreciation Amount. The Series B Participating Preferred Stock has an initial liquidation preference of $25.00 per share, or the initial liquidation preference, that may be increased by an additional Farmland Value Appreciation Amount, or the FVA Amount, that represents the cumulative change, from the 2017 estimated average value per acre of farmland in the 17 states in which we own farmland, or the Portfolio States, weighted by the percentage of the total unaudited book value of our properties held in each Portfolio State as of June 30, 2017, or the Weighting Factor. Farmland value appreciation, or FVA, is determined using "Farm Real Estate, Average Value per Acre," or Land Value, contained in the annual agricultural Land Values summary, or Land Value Report, released by the National Agricultural Statistics Service, or NASS, the Agricultural Statistics Board, or ASB, and the United States Department of Agriculture, or USDA. The FVA Amount will become fixed (based on the FVA Amount calculated based on the 2024 Land Value Report (as defined herein)) and cease to accrue on and after September 30, 2024. The FVA Amount and the Premium Amount (as defined herein) will be subject to a cap as described below.

Full Prospectus PDF », FPI Page »

Alternate symbology:FPI-B, FPI-PB, FPIprB
Call Date:9/30/2021 (Now Trading Post Call Date)
Shares Offered:5,250,000
Liquidation Preference:$25
Recent Market Price:$24.93
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-0.07 (-0.28%)
Annualized Dividend:1.5
Recent Ex-Date:9/14/2021
Current Yield:6.02%
Original Coupon:6.00%
Pay Period:Quarterly
Pay Dates:31-Mar, 30-Jun, 30-Sep, 31-Dec
CDx3 Compliance Rating: Learn FPI.PRB's Rating
Farmland Partners is an internally managed real estate company that owns and seeks to acquire farmland located in agricultural markets throughout North America. Co. owns farms in Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota, and Virginia. In addition, the main portion of Co.'s portfolio (by value) was used to grow primary crops, such as corn, soybeans, wheat, rice and cotton, with the balance used to produce specialty crops, such as blueberries, vegetables, citrus, nuts and edible beans. In addition, Co. is engaged in farmland asset management on behalf of third parties.

Preferred: FPI.PRB

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Farmland Partners Inc
Number of ETFs Holding FPI: 
21 (see which ones)
Total Market Value Held by ETFs: 
Total Market Capitalization: 
% of Market Cap. Held by ETFs: 

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