Farmland Partners Inc. FPI
Farmland Partners Inc. functions as an internally managed real estate enterprise, primarily focused on acquiring and holding premium North American agricultural land. The company also provides secured loans to farmers, collateralized by their farm real estate. As of the most recent disclosure, its expansive portfolio includes approximately 155,000 acres distributed across 16 U.S. states, covering significant agricultural areas from Alabama to Virginia. This diversified land base supports nearly 26 different crop varieties and is utilized by over 100 distinct agricultural tenants. Farmland Partners Inc. chose to be taxed as a Real Estate Investment Trust (REIT) for U.S. federal income tax purposes, commencing with the fiscal year that ended December 31, 2014.
Snapshot
Reported FFO / AFFO / leverage are from the Q1 2026 earnings release (filed 2026-04-29) — 8-K, EX-99.1.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $52.18M | $31.55M | $4.17M | $45.95M | $17.43M |
| 2024 | $58.23M | $59.91M | $5.59M | $85.88M | $16.14M |
| 2023 | $57.47M | $30.91M | $7.50M | $61.67M | $12.89M |
| 2022 | $61.21M | $11.67M | $6.96M | $35.29M | $17.05M |
| 2021 | $51.74M | $9.99M | $7.63M | $24.52M | $7.86M |
| 2020 | $50.69M | $7.12M | $7.97M | $30.31M | $19.73M |
Dividends
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-07-01 | 2026-07-01 | 2026-07-15 | 2026-04-28 | $0.09 | Quarterly |
| 2026-04-01 | 2026-04-01 | 2026-04-15 | 2026-02-17 | $0.09 | Irregular |
| 2026-01-02 | 2026-01-02 | 2026-01-15 | 2025-10-28 | $0.06 | Quarterly |
| 2025-12-23 | 2025-12-23 | 2026-01-07 | 2025-12-15 | $0.20 | Special |
| 2025-10-01 | 2025-10-01 | 2025-10-15 | 2025-07-22 | $0.06 | Quarterly |
| 2025-07-01 | 2025-07-01 | 2025-07-15 | 2025-05-06 | $0.06 | Quarterly |
| 2025-04-01 | 2025-04-01 | 2025-04-15 | 2025-02-18 | $0.06 | Irregular |
| 2025-01-02 | 2025-01-02 | 2025-01-15 | 2024-10-30 | $0.06 | Quarterly |
| 2024-12-23 | 2024-12-23 | 2025-01-08 | 2024-12-13 | $1.15 | Special |
| 2024-10-01 | 2024-10-01 | 2024-10-15 | 2024-07-24 | $0.06 | Quarterly |
| 2024-07-01 | 2024-07-01 | 2024-07-15 | 2024-04-30 | $0.06 | Quarterly |
| 2024-03-28 | 2024-04-01 | 2024-04-15 | 2024-02-28 | $0.06 | Quarterly |
| 2023-12-29 | 2024-01-02 | 2024-01-16 | 2023-10-25 | $0.06 | Special |
| 2023-09-29 | 2023-10-02 | 2023-10-16 | 2023-07-26 | $0.06 | Quarterly |
| 2023-06-30 | 2023-07-03 | 2023-07-17 | 2023-05-03 | $0.06 | Quarterly |
| 2023-03-31 | 2023-04-03 | 2023-04-17 | 2023-02-22 | $0.06 | Quarterly |
| 2022-12-29 | 2023-01-02 | 2023-01-17 | 2022-10-24 | $0.06 | Quarterly |
| 2022-09-29 | 2022-10-01 | 2022-10-17 | 2022-07-26 | $0.06 | Quarterly |
| 2022-06-30 | 2022-07-01 | 2022-07-15 | 2022-05-03 | $0.06 | Quarterly |
| 2022-03-31 | 2022-04-01 | 2022-04-15 | 2022-02-22 | $0.05 | Quarterly |
| 2021-12-31 | 2022-01-03 | 2022-01-18 | 2021-10-27 | $0.05 | Quarterly |
| 2021-09-30 | 2021-10-01 | 2021-10-15 | 2021-08-04 | $0.05 | Quarterly |
| 2021-06-30 | 2021-07-01 | 2021-07-15 | 2021-05-13 | $0.05 | Quarterly |
| 2021-03-31 | 2021-04-01 | 2021-04-15 | 2021-02-16 | $0.05 | Quarterly |
Coverage (payout of operating cash flow): 105.89%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.