Advance Terrafund bought 406 daa in August (NEUTRAL)

18.09.2023 Source: Advance Terrafund REIT; FFBH

Advance Terrafund REIT purchased 406 daa new land in Aug’23 at an average price of BGN 1 880/daa (+0.8% MoM). The fund didn’t sell directly any land during the month. As a result, the land portfolio increased to 174 586 daa (+0.2% MoM). The expected revenue for 2022-2023 agricultural year is BGN 8 031.7k (+31.8% YoY) with 35.7% of it already collected. Currently, the fund has rented out 143 074 daa, or 86.1% of its rentable portfolio at an average price of BGN 56.14/daa (+34.9% YoY).