December 15 (SeeNews) - Bulgaria's Advance Terrafund REIT [BUL:ATER] said on Thursday that it purchased 43.9 hectares of agricultural land in November at an average price of 9,315 euro ($9,885) per hectare.
At the same time, the company sold 3 hectares of agricultural land at a price of 20,452 euro per hectare, it said in a stock exchange filing.
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The REIT expects to book rental revenue of about 4.6 million euro in the 2022-2023 crop year, which began on October 1, up from 3.1 million euro in the previous crop year. The company forecast an average yield of some 294.30 euro per hectare.
At the end of November, Advance Terrafund owned about 18,709 ha of farm land, as well as 6.08 ha of urban land.
The average monthly price per hectare of acquired agricultural land remained stable in November, after increasing by a quarter in October.
As at 1224 CET on Thursday, shares in Advance Terrafund REIT traded flat at 3.06 levs on the Bulgarian Stock Exchange.
($ = 0.9423 euro)