American Farmland Company, incorporated in 1989 and headquartered in Kansas City, Missouri, was a publicly traded real estate investment trust (REIT) that specialized in the ownership and management of agricultural land. Trading under the NYSE MKT symbol AFCO, the company focused on acquiring high-quality farmland assets and generating rental income through long-term leases with farmers and agricultural enterprises.
The company’s core activities included identifying underperforming or undervalued farmland properties, negotiating purchase agreements and structuring lease arrangements designed to provide predictable cash flows. Its portfolio comprised irrigated and dryland farming properties used for growing row crops, grains and other staples. American Farmland Company’s strategy emphasized diversification across crop types, soil profiles and lease durations to mitigate risks associated with weather variability and commodity price swings.
Over its operational history, the company built a geographically diverse portfolio spanning the Midwest, Great Plains and South, with significant holdings in states such as Kansas, Iowa, Nebraska and Texas. Management collaborated closely with local operators, offering flexible lease structures and supporting capital improvements—such as irrigation infrastructure and soil enhancement—to drive long-term land productivity and value appreciation.
In December 2018, American Farmland Company completed a merger with Gladstone Land Corporation, a fellow farmland-focused REIT. The transaction combined the two companies’ assets and operations, resulting in one of the largest publicly traded farmland portfolios in the United States.
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