Farmland Partners Inc Stock Price, News & Analysis

Farmland Partners Inc. (NYSE: FPI) has scheduled its first quarter 2025 earnings release and conference call. The company will release its financial results for Q1 2025 after 5 p.m. ET on Wednesday, May 7, 2025. A conference call to discuss the results will be held the following day, Thursday, May 8, 2025, at 11:00 a.m. ET.

Investors can access the call by dialing 1-800-715-9871 (Conference ID: 4868033) or through a live webcast on the company's website. A replay will be available until May 18, 2025, by dialing 1-800-770-2030 (Playback ID: 4868033) or through the Investor Relations section of www.farmlandpartners.com.

Farmland Partners Inc. (NYSE: FPI) reported its financial results for the year ended December 31, 2024. Key highlights include:

• Net income of $61.5 million, or $1.19 per share, up from $31.7 million, or $0.55 per share in 2023.
• Adjusted Funds from Operations (AFFO) of $14.1 million, or $0.29 per share, an 80% increase from $8.1 million, or $0.16 per share in 2023.
• Completed 54 farm dispositions for $312.0 million with a total gain of $54.1 million.
• Acquired four properties for $17.9 million.
• Repurchased 2,240,295 shares at an average price of $12.25 per share.
• Reduced total debt by $158.5 million, eliminating floating rate debt and projecting $10.9 million in annual interest savings.
• Decreased debt as a percentage of gross book value from 36.3% to 27.2%.
• Increased operating revenues by 1.3% and reduced operating expenses by 15.0%.
• Declared a special dividend of $1.15 per share.

Subsequent to December 31, 2024, FPI completed a $4.1 million farm disposition, repaid $2.0 million on MetLife Term Loan #9, issued $3.1 million in loans, and repurchased 63,023 shares at $11.74 per share. The company declared a quarterly dividend of $0.06 per share, payable on April 15, 2025.

Farmland Partners Inc. (NYSE: FPI) has scheduled its fourth quarter and fiscal year 2024 earnings release for February 19, 2025, after 5 p.m. Eastern Time. The company will host a conference call on February 20, 2025, at 11:00 a.m. Eastern Time to discuss financial results and provide company updates.

Investors can access the conference call by dialing 1-800-715-9871 (Conference ID: 4868033) or through a live webcast available on the Investor Relations section of the company's website. A replay will be available until March 2, 2025, via phone (1-800-770-2030, Playback ID: 4868033) and on the company's website.

Farmland Partners (NYSE: FPI) has disclosed the tax treatment of its 2024 common stock distributions. The company distributed a total of $1.60 per share throughout 2024, consisting of multiple quarterly dividends of $0.06 per share and two special dividends: $0.21 (partially allocated to 2024) and $1.15.

The distributions were characterized as follows: $0.176684 per share as taxable ordinary dividends (including qualified dividends and Section 199A dividends) and $1.218463 per share as capital gains. The company confirmed that the capital gains were determined under Section 1231 and are excluded from 'applicable partnership interest' disclosures.

Farmland Partners (NYSE: FPI) has declared a special one-time dividend of $1.15 per share of common stock and Class A Common OP Unit, payable on January 8, 2025, to shareholders of record on December 23, 2024. This follows a successful year where FPI sold farmland and related assets for approximately $308 million, generating a total gain of about $51 million (20% over aggregate net book value). The company has improved its performance by reducing operational expenses, decreasing debt exposure, and increasing rental rates on its remaining portfolio. This special dividend, required for REIT compliance, is additional to the previously declared quarterly dividend of $0.06 per share.

Farmland Partners Inc. (NYSE: FPI) reported third quarter 2024 financial results. Net income was $1.8 million, or $0.02 per share, down from $4.3 million, or $0.07 per share, in the same period in 2023. AFFO increased to $1.4 million, or $0.03 per share, compared to a loss of $0.5 million, or ($0.01) per share, in Q3 2023. Total operating revenues rose 14.6% to $13.3 million. The company reduced total operating expenses by 30.2% and completed $308 million in farm dispositions, repaying $189.4 million in debt. Debt as a percentage of gross book value decreased to 27.1%. FPI increased its 2024 AFFO guidance and projects a special dividend of at least $1.00 per share. CEO Luca Fabbri highlighted the company's strong operating quarter and strategic moves to reduce debt and enhance shareholder value.

Farmland Partners (NYSE: FPI) has scheduled its Q3 2024 earnings release for October 30, 2024, after 5 p.m. Eastern Time. The company will host a conference call on October 31, 2024, at 11:00 a.m. Eastern Time to discuss financial results and provide updates. Investors can access the call via phone (1-800-715-9871, ID: 4868033) or through a live webcast on the company's website. A replay will be available until November 10, 2024.

Farmland Partners Inc. (NYSE: FPI) has completed a $289 million all-cash sale of a farmland portfolio to Farmland Reserve, Inc. The transaction, which closed on October 16, 2024, involved 46 farms totaling 41,554 acres across seven states. FPI generated an approximate $50 million gain, representing a 21% increase over the portfolio's net book value.

The company has already used $146.6 million of the proceeds to reduce its debt. FPI is considering further debt reductions and may use the remaining capital for stock buybacks, new farmland acquisitions, and other corporate purposes. Additionally, FPI anticipates being in a position to issue a significant special dividend to stockholders at the end of the year as a result of this transaction.

Farmland Partners Inc. (NYSE: FPI) has announced the sale of a 46-farm portfolio, totaling 41,554 acres, for $289 million to Farmland Reserve, Inc. The all-cash transaction is set to close on October 16, 2024. The portfolio spans several states, excluding Illinois farmland. FPI expects a total gain of approximately $50 million, representing a 21% increase over the aggregate net book value.

FPI's President and CEO, Luca Fabbri, emphasized that this sale, following a similar $200 million asset sale in 2023, demonstrates the company's undervalued status and the unrealized intrinsic value of its stock. The company plans to use the proceeds to reduce debt by about $140 million, buy back stock, pursue acquisitions, and potentially make a significant special distribution to shareholders at year-end.