California’s drought puts water on the mind these days, particularly given all the agricultural production there. There are publicly traded companies with land and water rights in these agricultural areas, but data points are few.
Limoneira discusses some of their water rights in their latest 10-k, noting:
“In connection with our September 6, 2013 acquisition of Associated and its property ownership in Yuma, Arizona and its related membership in the Yuma Mesa Irrigation and Drainage District (“YMIDD”), we have been allocated approximately 11,000 acre feet of water sourced from the Colorado River. During December 2013, Associated entered into an agreement with the YMIDD to participate in a Pilot Fallowing Program in which Associated has agreed to forego its water allocation for approximately 286 acres of land in exchange for $750 per acre through December 31, 2016, unless terminated sooner by YMIDD.”
Disclosure: no position