Company invites individual and institutional investors as well as advisors to attend interactive real-time virtual VirtualInvestorConferences.com
DENVER, Aug. 9, 2016 /PRNewswire/ -- Farmland Partners Inc. (NYSE: FPI) (the "Company"), based in Denver, and focused on investing in farmland, today announced that Paul Pittman, Chairman and Chief Executive Officer, will present live during the REIT-focused VirtualInvestorConferences.com event on August 11, 2016.
DATE: Thursday, August 11, 2016
TIME: 11:30am ET
This will be a live, interactive online event where investors are invited to ask the Company questions in real-time - both in the presentation hall as well as the association's "virtual trade booth." If attendees are not able to join the event live on the day of the conference, an on-demand archive will be available for 90 days.
It is recommended that investors pre-register and run the online system check to save time and receive event updates.
Learn more about the event at www.VirtualInvestorConferences.com.
Recent Company Highlights
- Reported operating revenue of $6.0 million for the quarter ended June 30, 2016, a 109% increase over the same period last year
- Reported net income of $1.3 million for the quarter ended June 30, 2016, an 808% increase over the same period last year
- Reported Adjusted EBITDA of $4.0 million for the quarter ended June 30, 2016, a 43% increase over the same period last year
- Completed acquisitions of 3,622 acres of farmland for an aggregate purchase price of approximately $11.5 million
- Sold 696,607 shares of our common stock under our "at-the-market" offering program at a volume weighted average price per share of $11.16 and generated net proceeds of approximately $7.7 million
- Announced the inclusion of our common stock to the Russell 3000 Index, Russell 2000 Index, and Russell Global Index
- Declared a dividend of $0.1275 per share ($0.51 annualized) for the second quarter of 2016 – a 4.27% distribution rate based on the Company's closing stock price on Wednesday, August 3, 2016
Adjusted EBITDA is a non-GAAP financial measure, which should be considered along with, but not as an alternative to, net income or loss as a measure of the Company's operating performance. For the definition of Adjusted EBITDA and for reconciliations of net income to Adjusted EBITDA, please see our Quarterly Report on Form 10-Q for the three and six months ended June 30, 2016 filed with the Securities and Exchange Commission on August 8, 2016.
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. The Company's portfolio is comprised of 270 farms with an aggregate of 115,214 acres (including four farms totaling 3,974 acres under contract) in Arkansas, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, Texas and Virginia. 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.
Since 2010, VirtualInvestorConferences.com, created by BetterInvesting (NAIC) and PRNewswire, has been the only monthly virtual investor conference series that provides an interactive forum for presenting companies to meet directly with investors using a graphically-enhanced online platform.
Designed to replicate the look and feel of location-based investor conferences, Virtual Investor Conferences unites PR Newswire's leading-edge online conferencing and investor communications capabilities with BetterInvesting's extensive retail investor audience network.
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SOURCE Farmland Partners Inc.