Farmland Partners

Farmland Partners, Inc. operates as a real estate investment trust. the firm engages in the management and acquisition of farmland and land with agricultural development potential. Its property portfolio focuses on the primary crops, such as corn, soybeans, wheat, rice and cotton and the remaining land is used to grow specialty crops, such as almond, citrus, blueberries, vegetables and edible beans. The company was founded on September 27, 2013 and is headquartered in Denver, CO.

Earnings data Q1 2021

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Farmland Partners excels in 2022 but faces challenges in specialty crops

Farmland Partners navigated a successful year in 2022 with strong financial performance and rent renewals. However, challenges like increased interest costs and drought effects on specialty crops pose concerns for the company's outlook. Evaluating specialty crop strategies and mitigating volatility are key focus areas for future growth.

Farmland Partners reports robust Q1 performance amidst market challenges

Farmland Partners (FPI) showcased strong financial performance and a strategic approach to enhancing shareholder value in Q1 2023.
The company's emphasis on farmland asset value, debt reduction, and stock buybacks reflects a proactive and investor-friendly strategy.
Despite challenges like weather risks and debt priorities, Farmland Partners remains resilient and poised to capitalize on market opportunities.

Farmland Partners boosts earnings through strategic asset sales and debt reduction

Farmland Partners delivered a strong performance in Q2 2023, with increased net income and earnings per share driven by strategic asset sales and debt reduction.
The company's focus on enhancing shareholder value through stock buybacks, debt reduction, and portfolio concentration positions it well for future growth and stability.
While facing challenges such as slowing transaction volumes, Farmland Partners has opportunities to optimize its portfolio, capitalize on market conditions, and drive value creation.
Management's proactive stance and diverse buyer base signal resilience and adaptability in navigating the evolving farm economy landscape for sustained success.

Farmland Partners (FPI) reports robust Q3 performance and growth opportunities

Farmland Partners (FPI) delivered a solid performance in Q3 2023, driven by property sales, share repurchases, and lease renewal growth.
The company's strengths in debt reduction, strategic asset sales, and exposure to renewable energy demand position it well for future growth.
While facing challenges related to specific crop types and capital allocation, Farmland Partners (FPI) has opportunities to capitalize on property sales, renewable energy demand, and shareholder value enhancement.

Farmland Partners (FPI) reports robust Q4 performance and growth opportunities

Farmland Partners (FPI) showcased strong financial performance and strategic initiatives in Q4 2023, focusing on cost-cutting, asset sales, and debt reduction.
The company faces challenges such as borrowing costs, asset sale limitations, and rent variability, but opportunities exist in regional focus, cost-cutting, and rent increases.
Investors are encouraged to consider Farmland Partners (FPI) for its undervaluation, asset sale strategy, and potential for growth through stock buybacks and debt reduction.

Farmland Partners reports strong Q1 earnings, eyes acquisitions for growth

Farmland Partners Inc. delivered a strong performance in Q1 2024, emphasizing cost control and strategic adjustments. The company faces challenges in regulatory constraints and cost management but sees opportunities in acquisitions and asset sales. Overall, Farmland Partners remains focused on financial stability and growth amidst market uncertainties.

Farmland Partners (FPI) reports strong Q2 performance and strategic growth plans

Farmland Partners (FPI) had a solid Q2 performance, addressing challenges in the farm economy and West Coast markets. The company is focused on leveraging strengths like rent increases and asset sales while exploring opportunities for growth and revenue diversification.

Farmland Partners (FPI) excels in asset sales, eyes growth opportunities

Farmland Partners (FPI) showcased strong financial metrics, emphasized asset appreciation, and outlined a positive outlook for 2024. Analyst inquiries focused on revenue sources, debt management, and growth strategies, reflecting investor interest in the company's performance and future prospects.

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Farmland Partners, Inc. is an internally managed real estate company. It engages in the business of owning and seeking to acquire high-quality farmland located in agricultural markets. The company was founded by Luca Fabbri on September 27, 2013 and is headquartered in Denver, CO.

We had touted the preferred shares of this company as a cash-like alternative the last time we covered it. The par value of the issue was tied to the land values and we had provided our estimate for it.

Farmland Partners: Key Developments

DENVER, Aug. 6, 2021 /PRNewswire/ -- Farmland Partners Inc. (NYSE: FPI) (the "Company") today posted the Cumulative Farmland Value Appreciation ("FVA"), the FVA Factor, and the FVA Amount as updated for 2021, as those terms are defined in the final prospectus for the Company's 6.00% Series B Participating Preferred Stock (NYSE:FPIPRB) ("Series B Preferred Stock"). The FVA Factor and FVA Amount were calculated using data contained in the Land Values 2021 Summary, which was released today by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA).

Farmland Partners Inc. Announces Farmland Value Appreciation Amount for its 6.00% Series B Participating Preferred Stock

Farmland Partners Inc. (FPI) CEO Paul Pittman on Q2 2021 Results - Earnings Call Transcript

DENVER, Aug. 4, 2021 /PRNewswire/ -- Farmland Partners Inc. (NYSE: FPI) ("FPI" or the "Company") today reported financial results for the three and six months ended June 30, 2021. Selected 2021 Highlights During the six months ended June 30, 2021, the Company: experienced strong farmland values with accelerating appreciation, especially in row crop regions; showed substantial increases in lease renewal rates so far, reflecting increased farmer profitability; recorded net income of $(0.4) million, $4.2 million excluding litigation-related items1, compared to $0.6 million, $1.4 million excluding litigation related items2 for the same period in 2020; recorded AFFO of $(5.3) million, $(0.6) million excluding litigation-related items1, compared to $(1.8) million, $(1.0) million excluding litigation related items2 for the same period in 2020; completed four acquisitions, for total consideration of $29.9 million; completed fifteen property dispositions, for total consideration of $28.3 million and total gain on sale of $3.5 million; retained property management for ten out of fifteen disposed properties, growing the off-balance sheet asset management business to $21.5 million of AUM; sold 1,954,293 shares of common stock at an average price of $13.11 for aggregate net proceeds of $25.4 million under the ATM Program; and reached settlement with Quinton Mathews regarding the falsity of claims that were used to launch the "short and distort" scheme targeting FPI, its management, and its stockholders (FPI press release).

Farmland Partners Inc. Reports Second Quarter 2021 Results

DENVER, July 30, 2021  /PRNewswire/ -- Farmland Partners Inc. (NYSE:FPI) (the "Company") today announced it will release its financial results for the quarter ended June 30, 2021 after 5 p.m. (Eastern Time) on Wednesday, August 4, 2021, and will host a conference call on Thursday, August 5, 2021 at 12:00 p.m.

Farmland Partners Inc. Announces Date for Second Quarter 2021 Earnings Release and Conference Call

DENVER, July 29, 2021 /PRNewswire/ -- Farmland Partners Inc. (NYSE:FPI) (the "Company") announced today the closing of new loans under the FPI Loan Program.  This agricultural lending product allows farmers with qualifying collateral to generate liquidity from land equity that is often tied up because of traditional lending practices.

Farmland Partners Inc. Reopens Loan Program to Enhance Farmers' Access to Liquidity

DENVER, July 27, 2021 /PRNewswire/ -- Farmland Partners Inc. (NYSE: FPI) (the "Company") today announced that it purchased 182 acres of cropland in Northern Florida for total consideration of $1 million. This highly improved property consists of 160 irrigated, tillable acres.

Farmland Partners Inc. Acquires 182 Acres of Florida Farmland for $1 Million

Valuations are stretched in equities and bonds. Most preferred shares offer poor return prospects.

Farmland: Quality Preferreds Below Par

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DENVER, June 30, 2021 /PRNewswire/ -- Farmland Partners Inc. (NYSE: FPI) (the "Company" or "Farmland") today announced that Anna Barber, the named plaintiff in a shareholder derivative claim filed in the U.S. District Court for the District of Colorado, has voluntarily dismissed her derivative claim brought against the Company, and certain of its officers and directors.  Barber's derivative claim arose from a "short-and-distort" attack on Farmland, in which an anonymous short-seller writing under the pseudonym "Rota Fortunae," later disclosed as Quinton Mathews, published an article on Seeking Alpha on July 11, 2018, alleging fraud at the Company.

Plaintiff Voluntarily Dismisses Derivative Complaint against Defendants Farmland Partners Inc., its Officers and Directors

Farmland in general is a strong investment class.

Farmland Partners: 10 Reasons To Buy The Stock

DENVER, June 21, 2021 /PRNewswire/ -- Farmland Partners Inc. (NYSE: FPI) ("FPI" or the "Company") today announced the successful resolution of its litigation against Quinton Mathews, the previously anonymous author of an attack published on the financial website "Seeking Alpha" on July 11, 2018 as part of a "short and distort" scheme targeting FPI, management and its stockholders.  As Mr. Mathews acknowledged publicly (https://seekingalpha.com/instablog/47800059-rota-fortunae/5605955-mathews-settlement-press-release), the July 2018 Article was full of false statements that drove down FPI's stock price, allowing Mr.

"Rota Fortunae," Author of July 2018 Attack on Farmland Partners, Retracts Short and Distort Article, Admits Article's Falsity, and Returns Multiples of Trading Profits He Gained from Attack

DENVER, June 16, 2021 /PRNewswire/ -- Farmland Partners Inc. (NYSE: FPI) (the "Company" or "Farmland") today announced that the Maryland Circuit Court for Baltimore City has dismissed pending shareholder derivative claims brought by two Farmland shareholders against the Company, its officers and board of directors.  Derivative Complaints Based on Solely on False and Misleading Statements in a "Short and Distort Attack" Plaintiffs' demands arose from a "short-and-distort" attack on Farmland, in which an anonymous short-seller writing under the pseudonym "Rota Fortunae" later disclosed as Quinton Mathews, published an article on Seeking Alpha alleging fraud at the Company, including allegations that the company had improperly failed to disclose certain loans that it had made to farmers as material related-party transactions.

Maryland Circuit Court Dismisses Derivative Complaint against Defendants Farmland Partners Inc., its Officers and Directors

DENVER, June 1, 2021 /PRNewswire/ -- Farmland Partners Inc. (NYSE: FPI) (the "Company") today announced that it purchased 8,349 acres of cropland in Southern Louisiana for total consideration of $26.8 million. This highly improved property consists of 5,943 tillable acres, with a rich history of growing rice and soybeans.

Farmland Partners Inc. Acquires 8,349 Acres of Louisiana Farmland for $26.8 Million

Farmland Partners' (FPI) CEO Paul Pittman on Q1 2021 Results - Earnings Call Transcript

Farmland Partners (FPI) delivered FFO and revenue surprises of -150.00% and 15.83%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

Farmland Partners (FPI) Reports Q1 Loss, Tops Revenue Estimates

DENVER, May 13, 2021 /PRNewswire/ -- Farmland Partners Inc. (NYSE: FPI) ("FPI" or the "Company") today reported financial results for the quarter ended March 31, 2021. Selected Q1 2021 Highlights During the quarter ended March 31, 2021, the Company: recorded net income of $2.5 million, $5.0 million excluding litigation-related legal expenses1; recorded AFFO of -$1.6 million, $0.9 million excluding litigation-related legal expenses; completed two acquisitions, for total consideration of $2.9 million; completed 14 dispositions, for total consideration of $28.5 million, total gain on sale of $3.4 million; reduced debt by $20 million; bought back 8,291 shares of Series B preferred stock at a weighted average price of $25.82 for an aggregate purchase price of $0.2 million; and grew the off-balance sheet asset management business to ten properties and $21.5 million of AUM.

Farmland Partners Inc. Reports First Quarter 2021 Results

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DENVER , May 7, 2021 /PRNewswire/ -- Farmland Partners Inc. (NYSE:FPI) (the "Company") today announced it will release its financial results for the quarter ended March 31, 2021 before 8 a.m. (Eastern Time) on Thursday, May 13, 2021, and will host a conference call the same day at 11:00 a.m.

Farmland Partners Inc. Announces Date for First Quarter 2021 Earnings Release and Conference Call

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We last wrote about the preferred shares of Farmland Partners in December 2020. Since then, we have had the annual results released and there has also been a change in a key factor dictating conversion of preferred shares.

Farmland Partners: Preferred Shares Are Still Attractive

Farmland Partners Inc. (FPI) CEO Paul Pittman on Q4 2020 Results - Earnings Call Transcript

Farmland Partners (FPI) delivered FFO and revenue surprises of -51.52% and -19.37%, respectively, for the quarter ended December 2020. Do the numbers hold clues to what lies ahead for the stock?

Farmland Partners (FPI) Q4 FFO and Revenues Miss Estimates

DENVER, March 17, 2021 /PRNewswire/ -- Farmland Partners Inc. (NYSE: FPI) ("FPI" or the "Company") today reported financial results for the quarter and fiscal year ended December 31, 2020. Selected 2020 Highlights During the year ended December 31, 2020, the Company: completed three acquisitions, for total consideration of $1.4 million; completed seven dispositions, for total consideration of $20.5 million, total gain on sale of $3.2 million, representing an IRR of approximately 11%; accretively repurchased 1,034,167 shares of common stock at a weighted average price of $6.59 per share for an aggregate purchase price of $6.8 million and 140,189 shares of Series B preferred stock at a weighted average price of $22.08 per share for an aggregate purchase price of $3.1 million.

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