Farmland Partners

FPI

Market cap $456M

DENVER--(BUSINESS WIRE)--Farmland Partners Inc. (NYSE: FPI) (the “Company” or “FPI”) today announced that its Board of Directors has declared a one-time dividend of $0.20 per share of common stock and Class A Common OP Unit, payable in cash on January 7, 2026 to shareholders of record on December 23, 2025. The special dividend is in addition to the quarterly dividend of $0.06 per share of common stock and Class A Common OP Unit that FPI declared on October 28, 2025. For more details on the quar.

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Farmland Partners (FPI) is deeply undervalued, trading at a significant discount to its estimated asset value of $13–$20 per share. FPI's fundamentals remain strong: farmland values and AFFO per share are rising, while the stock price has dropped due to short-term market fears. Recent asset sales funded accretive share buybacks, debt reduction, and special dividends, further enhancing FPI's value for shareholders.

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Farmland Partners is undergoing a major transformation, shifting from owning farmland to focusing on management and reducing leverage. FPI has aggressively sold acreage to pay down debt, but revenue and profitability remain volatile, largely driven by asset sales rather than core operations. Despite management's progress, FPI trades at high valuation multiples, making the stock appear expensive relative to its underlying assets and earnings.

Farmland Partners gets a hold/neutral rating for my initial coverage, agreeing with today's consensus from analysts and the quant rating. This farmland REIT's upside potential is in its diversified national portfolio and potential future land values, but also low vacancy rates and scarcity of arable farmland for producing food. Other positives were FFO and operating cash flow growth, and a low debt-to-equity, but EBITDA margin and dividend growth could improve.

Farmland Partners offers modest regular dividends but consistently supplements returns with special dividends from profitable land sales, differentiating it from peers. FPI's Q3 2025 results showed stable AFFO growth, significant debt reduction, and ongoing share buybacks, with management raising full-year AFFO guidance. Unlike Gladstone Land, FPI's strategy relies on asset sales and value unlocks, making its total yield higher than the headline dividend suggests.

Farmland Partners Inc. ( FPI ) Q3 2025 Earnings Call October 30, 2025 11:00 AM EDT Company Participants Luca Fabbri - CEO, President & Non-Independent Director Christine Garrison - General Counsel & Secretary Paul Pittman - Executive Chairman Susan Landi - CFO & Treasurer Conference Call Participants Robert Stevenson - Janney Montgomery Scott LLC, Research Division Craig Kucera - Lucid Capital Markets, LLC, Research Division John Massocca - B. Riley Securities, Inc., Research Division Tousley Hyde - Raymond James & Associates, Inc., Research Division Presentation Operator Good day, everyone, and thank you for joining this Farmland Partners Inc. Q3 2025 Earnings Call.

Farmland Partners (FPI) came out with quarterly funds from operations (FFO) of $0.07 per share, beating the Zacks Consensus Estimate of $0.06 per share. This compares to FFO of $0.03 per share a year ago.

DENVER--(BUSINESS WIRE)--Farmland Partners Inc. (NYSE: FPI) (“FPI” or the “Company”) today reported financial results for the quarter ended September 30, 2025. Selected Highlights During the quarter ended September 30, 2025, the Company: recorded net income of $0.5 million, or $0.00 per share available to common stockholders, compared to $1.8 million, or $0.02 per share available to common stockholders for the same period in 2024; recorded AFFO of $2.9 million, or $0.07 per share, compared to $.