DENVER--(BUSINESS WIRE)--Farmland Partners Inc. (NYSE: FPI) (the “Company” or “FPI”) today announced that it has joined Field to Market: The Alliance for Sustainable Agriculture™ as an associate member.
Field to Market’s more than 165 members – spanning the agricultural supply chain including farmer organizations, agribusinesses, brands and retailers, research institutions, and conservation organizations – work together to foster continuous improvement and increased transparency in the sustainability of commodity crop production. FPI is the first real estate investment trust (REIT) to join the organization and represents one of the association’s largest landowners.
“We believe that farmers are tremendous stewards of the land, maximizing food production for a growing world population while decreasing its environmental impact,” said FPI President Luca Fabbri. “Agriculture will continue to make advancements on the sustainability front, and it will be important to arm farmers with the tools and resources they need to voluntarily implement the practices that make the most sense for their operations. Field to Market agrees and plays an important role in farm sustainability.”
Fabbri noted that FPI’s tenants are already embracing the latest agronomic techniques, technologies, and conservation practices to drive efficiency and preserve the land they farm. According to a tenant survey released by the Company in April, 97% of respondents said that they invest in soil health, 94% practice conservation tillage, 87% use variable rate application technology to apply crop inputs, and 51% participate in federal conservation programs.
The survey also found high adoption rates for other environmental strategies, such as grassed waterways or buffer strips to slow runoff and trap soil sediment, planting cover crops, and the use of diesel exhaust fluid to reduce emissions from farm equipment.
“We are excited to welcome Farmland Partners to our membership and look forward to working closely with them as we continue to focus on defining, measuring, and advancing the sustainability of America’s food, feed, fiber, and fuel production,” said Field to Market President Scott Herndon.
About Farmland Partners Inc.
Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate. As of the date of this release, the Company owns and/or manages nearly 195,000 acres in 19 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, North Carolina, South Carolina, Texas, and Virginia. We have approximately 26 crop types and more than 100 tenants. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014. Additional information: www.farmlandpartners.com or (720) 452-3100.
About Field to Market
Field to Market: The Alliance for Sustainable Agriculture™ brings together a diverse group of grower organizations; agribusinesses; food, feed, beverage, restaurant, and retail companies; conservation groups; universities and public sector partners to focus on defining, measuring, and advancing the sustainability of food, feed, fiber, and fuel production. Field to Market is comprised of over 165 members representing all facets of the U.S. agricultural supply chain. Additional information: https://fieldtomarket.org/.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the federal securities laws, including, without limitation, statements with respect to expected yields on acquired farmland, our outlook, proposed and pending acquisitions and dispositions, the potential impact of trade disputes and recent extreme weather events on the Company's results, financing activities, crop yields and prices and anticipated rental rates. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" or similar expressions or their negatives, as well as statements in future tense. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, beliefs and expectations, such forward-looking statements are not predictions of future events or guarantees of future performance and our actual results could differ materially from those set forth in the forward-looking statements. Some factors that might cause such a difference include the following: general volatility of the capital markets and the market price of the Company's common stock, changes in the Company's business strategy, availability, terms and deployment of capital, the Company's ability to refinance existing indebtedness at or prior to maturity on favorable terms, or at all, availability of qualified personnel, changes in the Company's industry, interest rates or the general economy, adverse developments related to crop yields or crop prices, the degree and nature of the Company's competition, the timing, price or amount of repurchases, if any, under the Company's share repurchase program, the ability to consummate acquisitions or dispositions under contract and the other factors described in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, and the Company's other filings with the Securities and Exchange Commission. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
