March 15 (SeeNews) - Bulgaria's Advance Terrafund REIT [BUL:ATER] said on Wednesday that it purchased 30.4 hectares (ha) of agricultural land in February at an average price of 8,232 euro ($8,823.97) per hectare.
In parallel, the company sold 1.9 ha of agricultural land at a price of 20,452 euro per hectare last month, it said in a stock exchange filing.
The REIT expects to book rental revenue of about 4.09 million euro in the 2022-2023 crop year, which began on October 1, compared with 3.1 million euro in the previous crop year. The trust envisages an average yield of some 287.14 euro per hectare. By the end of February, Advance Terrafund had collected 29.7% of the rents for the current crop year and 87.0% for the prior one, it said.
At the end of February, the company owned about 17, 996 ha of farm land and 6.08 ha of urban land.
The average monthly price per hectare of acquired agricultural land fell by 13.2% in February, after rising by 1.2% in January.
Shares in Advance Terrafund REIT last traded at 3.30 levs on the Bulgarian Stock Exchange.
($ = 0.9368 euro)