Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate. As of the date of this release, the Company owns approximately 155,000 acres in 16 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota and Virginia. We have approximately 26 crop types and over 100 tenants. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014.
IPO Year: 2014
Exchange: NYSE
Website: farmlandpartners.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/13/2023 | $12.50 | Neutral | B. Riley Securities |
| 1/13/2023 | Neutral → Buy | Janney | |
| 6/21/2022 | $16.00 | Buy | ROTH Capital |
| 10/14/2021 | $14.00 | Buy | Berenberg |
4 - Farmland Partners Inc. (0001591670) (Issuer)
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Significantly Reduces Debt, Increases 2024 Earnings Guidance, And Projects Special Dividend Of At Least $1.00 Farmland Partners Inc. (NYSE:FPI) ("FPI" or the "Company") today reported financial results for the quarter ended September 30, 2024. Selected Highlights During the quarter ended September 30, 2024, the Company: recorded net income of $1.8 million, or $0.02 per share available to common stockholders, compared to $4.3 million (which included $10.3 million of gain on disposition of assets, net), or $0.07 per share available to common stockholders for the same period in 2023; recorded AFFO of $1.4 million, or $0.03 per share, compared to ($0.5) million, or ($0.01) per share, for
Farmland Partners Inc. (NYSE:FPI) (the "Company") today announced it will release its financial results for the quarter ended September 30, 2024, after 5 p.m. (Eastern Time) on Wednesday, October 30, 2024, and will host a conference call the following day, Thursday, October 31, 2024, at 11:00 a.m. (Eastern Time) to discuss the financial results and provide a company update. The call can be accessed live over the phone by dialing 1-800-715-9871 and using the conference ID 4868033. The conference call will also be available via a live listen-only webcast and can be accessed through the Investor Relations section of the Company's website, www.farmlandpartners.com. A replay of the conference
Transaction Generated Approximate $50 Million Gain Over Net Book Value Farmland Partners Inc. (NYSE:FPI) (the "Company" or "FPI") today confirmed that the recently announced sale of a portfolio of farmland to Farmland Reserve, Inc. ("Farmland Reserve") closed as scheduled on October 16, 2024 (the "Transaction"). The portfolio sold to Farmland Reserve consisted of 46 farms, comprising 41,554 acres of farmland in Arkansas, Florida, Louisiana, Mississippi, Nebraska, Oklahoma, and the Carolinas. The $289 million all-cash Transaction generated a total gain for FPI of approximately $50 million, or approximately 21 percent over the aggregate net book value of the farms within the portfolio. FPI
Transaction to Generate an Approximate $50 Million Gain Over Net Book Value Farmland Partners Inc. (NYSE:FPI) (the "Company" or "FPI") today announced that it is selling a portfolio of 46 farms, comprising 41,554 acres of farmland (the "Portfolio"), for $289 million in a single transaction ("the "Transaction") with Farmland Reserve, Inc. The all-cash deal has been finalized by both parties and is scheduled to close on October 16, 2024, once all conditions to closing are satisfied. The Portfolio includes farms across several regions and states, including Arkansas, Florida, Louisiana, Mississippi, Nebraska, Oklahoma, and the Carolinas. The Transaction does not include any of the Company's I
Strong Performance Driven By Portfolio Improvement Farmland Partners Inc. (NYSE:FPI) ("FPI" or the "Company") today reported financial results for the quarter ended June 30, 2024. Selected Highlights During the quarter ended June 30, 2024, the Company: recorded net income (loss) of ($2.1) million, or ($0.06) per share available to common stockholders, compared to $7.9 million (which included $11.1 million of gain on disposition of assets), or $0.14 per share available to common stockholders for the same period in 2023; recorded AFFO of $0.5 million, or $0.01 per share (excluding $1.4 million, or approximately $0.03 per share, in a one-time severance expense), compared to ($1.1)
Farmland Partners Inc. (NYSE:FPI) (the "Company") today announced it will release its financial results for the quarter ended June 30, 2024, after 5 p.m. (Eastern Time) on Wednesday, July 24, 2024, and will host a conference call the following day, Thursday, July 25, 2024, at 11:00 a.m. (Eastern Time) to discuss the financial results and provide a company update. The call can be accessed live over the phone by dialing 1-800-715-9871 and using the conference ID 5408499. The conference call will also be available via a live listen-only webcast and can be accessed through the Investor Relations section of the Company's website, www.farmlandpartners.com. A replay of the conference call wi
Increased Fiscal Year 2024 Guidance Farmland Partners Inc. (NYSE:FPI) ("FPI" or the "Company") today reported financial results for the quarter ended March 31, 2024. Selected Highlights During the quarter ended March 31, 2024, the Company: recorded net income of $1.4 million, or $0.01 per share available to common stockholders, compared to $1.7 million, or $0.02 per share available to common stockholders for the same period in 2023; recorded AFFO of $2.8 million, or $0.06 per share, compared to $1.6 million, or $0.03 per share, for the same period in 2023; had average gross book value of real estate of $1.00 billion compared to $1.14 billion for the same period in 2023, a dec
Farmland Partners Inc. (NYSE:FPI) (the "Company") today announced it will release its financial results for the quarter ended March 31, 2024, after 5 p.m. (Eastern Time) on Tuesday, April 30, 2024, and will host a conference call the following day, Wednesday, May 1, 2024, at 11:00 a.m. (Eastern Time) to discuss the financial results and provide a company update. The call can be accessed live over the phone by dialing 1-800-715-9871 and using the conference ID 2678168. The conference call will also be available via a live listen-only webcast and can be accessed through the Investor Relations section of the Company's website, www.farmlandpartners.com. A replay of the conference call wil
Completed Nearly $200 million of Asset Sales, Demonstrating Gains, and Returning Capital to Shareholders Farmland Partners Inc. (NYSE:FPI) ("FPI" or the "Company") today reported financial results for the year ended December 31, 2023. Selected Fiscal Year 2023 Highlights During the year ended December 31, 2023, the Company: recorded net income of $31.7 million, or $0.55 per share available to common stockholders, compared to $12.0 million, or $0.16 per share available to common stockholders for the same period in 2022; recorded AFFO of $8.1 million, or $0.16 per share, compared to $15.8 million, or $0.30 per share, for the same period in 2022; completed dispositions of 74 pro
Farmland Partners Inc. (NYSE:FPI) (the "Company") today announced it will release its financial results for the fourth quarter and year ended December 31, 2023, after 5 p.m. (Eastern Time) on Wednesday, February 28, 2024, and will host a conference call the following day, Thursday, February 29, 2024, at 11:00 a.m. (Eastern Time) to discuss the financial results and provide a company update. The call can be accessed live over the phone by dialing 1-888-596-4144 and using the conference ID 9397607. The conference call will also be available via a live listen-only webcast and can be accessed through the Investor Relations section of the Company's website, www.farmlandpartners.com. A repl
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8-K - Farmland Partners Inc. (0001591670) (Filer)
10-Q - Farmland Partners Inc. (0001591670) (Filer)
8-K - Farmland Partners Inc. (0001591670) (Filer)
8-K - Farmland Partners Inc. (0001591670) (Filer)
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Farmland Partners Inc. (NYSE:FPI) (the "Company" or "FPI") today announced the addition of Dr. Bruce Sherrick, a renowned agricultural economist and farmland expert at the University of Illinois, to its Board of Directors (the "Board"), effective July 23, 2024. Dr. Sherrick has held the Marjorie and Jerry Fruin Professorship at the University of Illinois since 2013 and has run the TIAA-CREF Center for Farmland Research at the university's Department of Agricultural and Consumer Economics since 2014. For the past 22 years, Dr. Sherrick has also been a Managing Partner at Integrated Financial Analytics & Research (iFAR), a consulting firm that specializes in credit risk assessment and model
DENVER, Oct. 11, 2021 /PRNewswire/ -- Farmland Partners Inc. (NYSE:FPI) ("Farmland Partners" or the "Company") today announced the appointment of Luca Fabbri as President of the Company, effective immediately. Mr. Fabbri's responsibilities will include portfolio management, new growth initiatives, capital markets and investor relations, and he will continue to report directly to the Chairman and Chief Executive Officer. Prior to his appointment as President, Mr. Fabbri served as Chief Financial Officer and Treasurer of the Company since its inception. Prior to co-founding Farmland Partners, Mr. Fabbri spent over 20 years as an entrepreneur and executive in finance, technology and agricult
DENVER, Feb. 18, 2021 /PRNewswire/ -- Farmland Partners Inc. (NYSE: FPI) (the "Company" or "FPI") announced today the appointment of Toby O'Rourke to the FPI's Board of Directors, effective February 11, 2021. Following the appointment of Ms. O'Rourke as an independent Board member, the Board will be comprised of six directors, five of whom are independent. Ms. O'Rourke has served as the President and Chief Executive Officer of KOA, Inc. ("KOA"), a franchisor campground operator, since March 2019. Ms. O'Rourke served as the President of KOA from March 2018 to March 2019 and the Chief Operations Officer of KOA from January 2016 to March 2018. Ms. O'Rourke holds an undergraduate degree from t
DENVER, Dec. 8, 2020 /PRNewswire/ -- Farmland Partners Inc. (NYSE: FPI) (the "Company") today announced that real estate veteran Tom Heneghan has joined Farmland Partner's board of directors. An entity controlled by Mr. Heneghan has also entered into a stock purchase agreement to acquire 1,250,000 shares of the Company's common stock at $8.00 per share in a privately negotiated transaction for proceeds of $10 million. Mr. Heneghan has more than 30 years of leadership experience in the real estate industry with a long track-record of identifying opportunities to institutionalize and scale various sectors, domestically and internationally. These sectors include manufactured home communiti
B. Riley Securities resumed coverage of Farmland Partners with a rating of Neutral and set a new price target of $12.50
Janney upgraded Farmland Partners from Neutral to Buy
ROTH Capital initiated coverage of Farmland Partners with a rating of Buy and set a new price target of $16.00
Berenberg initiated coverage of Farmland Partners with a rating of Buy and set a new price target of $14.00
Significantly Reduces Debt, Increases 2024 Earnings Guidance, And Projects Special Dividend Of At Least $1.00 Farmland Partners Inc. (NYSE:FPI) ("FPI" or the "Company") today reported financial results for the quarter ended September 30, 2024. Selected Highlights During the quarter ended September 30, 2024, the Company: recorded net income of $1.8 million, or $0.02 per share available to common stockholders, compared to $4.3 million (which included $10.3 million of gain on disposition of assets, net), or $0.07 per share available to common stockholders for the same period in 2023; recorded AFFO of $1.4 million, or $0.03 per share, compared to ($0.5) million, or ($0.01) per share, for
Farmland Partners Inc. (NYSE:FPI) (the "Company") today announced it will release its financial results for the quarter ended September 30, 2024, after 5 p.m. (Eastern Time) on Wednesday, October 30, 2024, and will host a conference call the following day, Thursday, October 31, 2024, at 11:00 a.m. (Eastern Time) to discuss the financial results and provide a company update. The call can be accessed live over the phone by dialing 1-800-715-9871 and using the conference ID 4868033. The conference call will also be available via a live listen-only webcast and can be accessed through the Investor Relations section of the Company's website, www.farmlandpartners.com. A replay of the conference
Transaction Generated Approximate $50 Million Gain Over Net Book Value Farmland Partners Inc. (NYSE:FPI) (the "Company" or "FPI") today confirmed that the recently announced sale of a portfolio of farmland to Farmland Reserve, Inc. ("Farmland Reserve") closed as scheduled on October 16, 2024 (the "Transaction"). The portfolio sold to Farmland Reserve consisted of 46 farms, comprising 41,554 acres of farmland in Arkansas, Florida, Louisiana, Mississippi, Nebraska, Oklahoma, and the Carolinas. The $289 million all-cash Transaction generated a total gain for FPI of approximately $50 million, or approximately 21 percent over the aggregate net book value of the farms within the portfolio. FPI
Transaction to Generate an Approximate $50 Million Gain Over Net Book Value Farmland Partners Inc. (NYSE:FPI) (the "Company" or "FPI") today announced that it is selling a portfolio of 46 farms, comprising 41,554 acres of farmland (the "Portfolio"), for $289 million in a single transaction ("the "Transaction") with Farmland Reserve, Inc. The all-cash deal has been finalized by both parties and is scheduled to close on October 16, 2024, once all conditions to closing are satisfied. The Portfolio includes farms across several regions and states, including Arkansas, Florida, Louisiana, Mississippi, Nebraska, Oklahoma, and the Carolinas. The Transaction does not include any of the Company's I
Murray Wise Associates (MWA) announced today that Vice President Elizabeth Strom was recently recognized as the 2024 Land Broker of the Year by the Illinois chapter of the REALTORS® Land Institute (RLI), during its annual meeting. The annual award is selected by peers and acknowledges an RLI member in the state for their professionalism, ethics, market knowledge, client service, and work within the local community. "Liz embodies all of the qualities the industry prioritizes, and we could not be prouder of her for this well-deserved honor," said MWA President Eric Sarff. "She has been an invaluable member of our team since she joined us in 2021, and her infectious personality and business
Farmland Partners Inc. (NYSE:FPI) (the "Company" or "FPI") today announced the addition of Dr. Bruce Sherrick, a renowned agricultural economist and farmland expert at the University of Illinois, to its Board of Directors (the "Board"), effective July 23, 2024. Dr. Sherrick has held the Marjorie and Jerry Fruin Professorship at the University of Illinois since 2013 and has run the TIAA-CREF Center for Farmland Research at the university's Department of Agricultural and Consumer Economics since 2014. For the past 22 years, Dr. Sherrick has also been a Managing Partner at Integrated Financial Analytics & Research (iFAR), a consulting firm that specializes in credit risk assessment and model
Strong Performance Driven By Portfolio Improvement Farmland Partners Inc. (NYSE:FPI) ("FPI" or the "Company") today reported financial results for the quarter ended June 30, 2024. Selected Highlights During the quarter ended June 30, 2024, the Company: recorded net income (loss) of ($2.1) million, or ($0.06) per share available to common stockholders, compared to $7.9 million (which included $11.1 million of gain on disposition of assets), or $0.14 per share available to common stockholders for the same period in 2023; recorded AFFO of $0.5 million, or $0.01 per share (excluding $1.4 million, or approximately $0.03 per share, in a one-time severance expense), compared to ($1.1)
Farmland Partners Inc. (NYSE:FPI) (the "Company") today announced it will release its financial results for the quarter ended June 30, 2024, after 5 p.m. (Eastern Time) on Wednesday, July 24, 2024, and will host a conference call the following day, Thursday, July 25, 2024, at 11:00 a.m. (Eastern Time) to discuss the financial results and provide a company update. The call can be accessed live over the phone by dialing 1-800-715-9871 and using the conference ID 5408499. The conference call will also be available via a live listen-only webcast and can be accessed through the Investor Relations section of the Company's website, www.farmlandpartners.com. A replay of the conference call wi
Staff Reduction Part of Company's Cost-Cutting Initiative Farmland Partners Inc. (NYSE:FPI) (the "Company" or "FPI") today announced that Susan Landi has been appointed to the Company's executive team as Chief Financial Officer ("CFO") and Treasurer. Ms. Landi, the senior accounting professional at FPI for over four years, assumed her new role on May 28, 2024. Ms. Landi's responsibilities will include overseeing the Company's finance, accounting, treasury, and SEC financial reporting functions. Ms. Landi succeeds James Gilligan, who has stepped down as CFO upon mutual agreement with the Company and will remain as an employee with the Company through June 30, 2024 to ensure a smooth tran
Increased Fiscal Year 2024 Guidance Farmland Partners Inc. (NYSE:FPI) ("FPI" or the "Company") today reported financial results for the quarter ended March 31, 2024. Selected Highlights During the quarter ended March 31, 2024, the Company: recorded net income of $1.4 million, or $0.01 per share available to common stockholders, compared to $1.7 million, or $0.02 per share available to common stockholders for the same period in 2023; recorded AFFO of $2.8 million, or $0.06 per share, compared to $1.6 million, or $0.03 per share, for the same period in 2023; had average gross book value of real estate of $1.00 billion compared to $1.14 billion for the same period in 2023, a dec
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Farmland Partners (NYSE:FPI) reported quarterly earnings of $0.01 per share which met the analyst consensus estimate. The company reported quarterly sales of $11.445 million which missed the analyst consensus estimate of $11.895 million by 3.78 percent. This is a 1.20 percent decrease over sales of $11.584 million the same period last year.
Farmland Partners (NYSE:FPI) reported quarterly earnings of $0.06 per share. This is a 100 percent increase over earnings of $0.03 per share from the same period last year. The company reported quarterly sales of $11.990 million which missed the analyst consensus estimate of $12.150 million by 1.32 percent. This is a 5.38 percent decrease over sales of $12.672 million the same period last year.
Farmland Partners (NYSE:FPI) reported quarterly earnings of $0.16 per share which missed the analyst consensus estimate of $0.17 by 5.88 percent. The company reported quarterly sales of $21.59 million which missed the analyst consensus estimate of $22.29 million by 3.12 percent. This is a 1.06 percent decrease over sales of $21.82 million the same period last year.
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Raymond James analyst Buck Horne reiterated an Outperform rating on the shares of Farmland Partners Inc (NYSE:FPI) and raised the price target from $14 to $15. Though agricultural commodity prices have fallen about 10% year-over-year (per USDA data), U.S. farmers continue to enjoy strong farm-level profitability, says the analyst. According to the analyst, 2023 is expected to rank as the third-highest year for farm income in the past decade. Year-to-date, FPI has repurchased over 11% of its outstanding shares for $11/ share and announced a special dividend of $0.21/ share this month, making its next twelve-month yield at 3.5%. The analyst believes FPI continues to benefit from strong ap
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. HC Wainwright & Co. raised Karuna Therapeutics, Inc. (NASDAQ:KRTX) price target from $300 to $330. HC Wainwright & Co. analyst Raghuram Selvaraju downgraded the stock from Buy to Neutral. Karuna Therapeutics shares jumped 47.7% to close at $317.85 on Friday. See how other analysts view this stock. B of A Securities cut the price target for AlloVir, Inc. (NASDAQ:ALVR) from $17 to $1. B of A Securities analyst Jason Zemansky downgraded the stock from Buy to Underperform. AlloVir shares fell 67.2% to
Raymond James analyst Buck Horne maintains Farmland Partners (NYSE:FPI) with a Outperform and raises the price target from $14 to $15.
As much as investors love regular dividend payments, it's even more "special" when one of their stocks pays a special dividend, most often at the end of the calendar year. Because real estate investment trusts (REITs) are required to pay shareholders 90% or more of taxable income each year, special dividend distributions are often required when a REIT disposes of assets with large gains, which increases the taxable income for that year. The special dividend benefits shareholders with a larger annual yield and helps the REIT by creating shareholder confidence and loyalty. But keep in mind that the payment of a special dividend will decrease the share price by a similar amount, just as