Farmland partners inc. reports first quarter 2021 results

Denver, may 13, 2021 /prnewswire/ -- farmland partners inc. (nyse: fpi) ("fpi" or the "company") today reported financial results for the quarter ended march 31, 2021. selected q1 2021 highlights during the quarter ended march 31, 2021, the company: recorded net income of $2.5 million, $5.0 million excluding litigation-related legal expenses1; recorded affo of -$1.6 million, $0.9 million excluding litigation-related legal expenses; completed two acquisitions, for total consideration of $2.9 million; completed 14 dispositions, for total consideration of $28.5 million, total gain on sale of $3.4 million; reduced debt by $20 million; bought back 8,291 shares of series b preferred stock at a weighted average price of $25.82 for an aggregate purchase price of $0.2 million; and grew the off-balance sheet asset management business to ten properties and $21.5 million of aum.
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