Farmland Partners Inc. (NYSE: FPI) is buying three farms in Nebraska and Colorado in a cash and stock deal.

Together, the farms total 2,592 acres and produce row crops, which are crops planted in rows that can be tended to by machinery. Farmland Partners is paying $16.6 million in cash, plus 63,581 shares of common stock and $2.7 million in units of limited partnership interest in its operating partnership, Farmland Partners Operating Partners LP. Farmland's stock was trading at around $10.89 mid-day on March 13, after the deal was announced.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.