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FPI

Farmland Partners Inc.

https://www.farmlandpartners.com

Industry

REIT - Specialty

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.

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Farmland Partners Inc. (NYSE:FPI) is selling a 46-farm portfolio for $289 million, aiming to reduce debt, buy back stock, and pursue acquisitions. The sale is expected to generate a $50 million gain. FPI shares are trading lower by 1.04% following the announcement.

Portfolio Pulse from Nabaparna Bhattacharya

October 03, 2024 | 12:21 pm

Farmland Partners has sold a $289 million portfolio to Farmland Reserve, generating a $50 million gain over book value. The sale includes farms in several states but excludes valuable Illinois farmland. This follows a $200 million asset sale earlier in 2023.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 6:30 am

Farmland Partners (NYSE:FPI) reported Q2 2024 earnings per share of $0.01, meeting analyst expectations. However, the company's sales of $11.445 million missed the $11.895 million estimate by 3.78%, and decreased by 1.20% compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 8:13 pm

Farmland Partners has appointed Susan Landi as the new Chief Financial Officer (CFO).

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 8:14 pm

Farmland Partners has revised its 2024 AFFO (Adjusted Funds From Operations) guidance range upwards, from previously $0.15-$0.23 to now $0.19-$0.26, indicating a positive outlook on its financial performance.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 9:21 pm

Farmland Partners (NYSE:FPI) reported a Q1 2024 FFO of $0.06 per share, doubling from $0.03 YoY. However, their sales of $11.990M fell short of the $12.150M estimate, marking a 5.38% decrease from last year's $12.672M.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:49 pm

Farmland Partners (NYSE:FPI) reported Q4 2023 FFO of $0.16 per share, missing the $0.17 estimate, and sales of $21.59M, below the $22.29M estimate. This represents a 1.06% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 10:27 pm

The article lists companies scheduled to report their earnings on February 28, 2024, including their expected earnings per share and revenue. It covers a wide range of sectors and provides a comprehensive overview of the financial performance expectations for these companies.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 11:24 am

Raymond James analyst Buck Horne has reiterated an Outperform rating on Farmland Partners Inc (FPI) and increased the price target from $14 to $15. Despite a 10% year-over-year drop in agricultural commodity prices, U.S. farmers are experiencing strong profitability, with 2023 expected to be the third-highest year for farm income in a decade. FPI has repurchased over 11% of its shares year-to-date at $11/share and announced a special dividend of $0.21/share. The company has also completed property dispositions worth $71.1 million this quarter, with a year-to-date total of $122 million. FPI is executing a $190 million capital recycling program to leverage the difference between public valuation and private market value. Lease renewals in 2023 have seen an 18% increase year-to-date. With $163.1 million in available liquidity, FPI is well-positioned to maintain its dividend. The analyst estimates FPI's Net Asset Value/share at $16, indicating a 20% discount on the current share price, with the target price reflecting a 10% discount to NAV. FPI shares are up 1.65% at $12.97.

Portfolio Pulse from Shivani Kumaresan

December 26, 2023 | 6:51 pm

Wall Street analysts have updated their price targets and ratings for several companies. Karuna Therapeutics' target was raised but downgraded to Neutral. AlloVir's target was cut significantly and downgraded to Underperform. Farmland Partners, Huntington Bancshares, Cognizant Technology Solutions, Modine Manufacturing, and CMS Energy had their targets raised with positive ratings. Paychex and Omega Healthcare Investors had their targets cut with neutral and hold ratings, respectively. Equillium's target was slashed but maintained a Buy rating.

Portfolio Pulse from Avi Kapoor

December 26, 2023 | 1:03 pm

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