Farmland Partners/$FPI
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Capital at risk
About Farmland Partners
Farmland Partners Inc owns and seeks to acquire high-quality farmland throughout North America. The company is an internally managed real estate company which owns and contracts farmland and storage facilities located across the United States. Majority of the properties in its portfolio are used to grow primary crops, such as corn, soybeans, wheat, rice and cotton, and rest to produce specialty crops, such as almonds, pictachios, citrus, avacados, strawberies, and edible beans. The company generates its revenues through the rent it receives from its tenants.
- Ticker
- $FPI
- Sector
- Real Estate
- Primary listing
- NYSE
- Employees
- 12
- Headquarters
- Denver, United States
- Website
- www.farmlandpartners.com
FPI Metrics
BasicAdvanced
$471M
19.84
$0.55
0.69
$0.50
3.31%
Price and volume
Market cap
$471M
Beta
0.69
52-week high
$13.23
52-week low
$9.21
Average daily volume
547K
Dividend rate
$0.50
Financial strength
Current ratio
8.787
Quick ratio
1.33
Long term debt to equity
0.428
Total debt to equity
0.484
Dividend payout ratio (TTM)
79.41%
Interest coverage (TTM)
2.23%
Profitability
EBITDA (TTM)
26.776
Gross margin (TTM)
82.68%
Net profit margin (TTM)
50.19%
Operating margin (TTM)
45.19%
Effective tax rate (TTM)
0.03%
Revenue per employee (TTM)
$4,260,000
Management effectiveness
Return on assets (TTM)
1.96%
Return on equity (TTM)
5.03%
Valuation
Price to earnings (TTM)
19.845
Price to revenue (TTM)
9.181
Price to book
1.02
Price to tangible book (TTM)
1.02
Price to free cash flow (TTM)
25.448
Free cash flow yield (TTM)
3.93%
Free cash flow per share (TTM)
0.427
Dividend yield (TTM)
4.60%
Forward dividend yield
3.31%
Growth
Revenue change (TTM)
-5.75%
Earnings per share change (TTM)
-55.86%
3-year revenue growth (CAGR)
-4.49%
10-year revenue growth (CAGR)
10.11%
3-year earnings per share growth (CAGR)
28.82%
10-year earnings per share growth (CAGR)
23.04%
3-year dividend per share growth (CAGR)
7.72%
10-year dividend per share growth (CAGR)
-5.17%
Bulls say / Bears say
By redeeming all remaining 68,000 Series A preferred units for approximately $68.2 million in February 2026, FPI streamlined its capital structure and eliminated dilution risk, potentially lowering its cost of capital and enhancing financial flexibility. (SEC 10-Q)
In Q2 2026, FPI’s adjusted FFO rose 30.6% year-over-year to $1.694 million (AFFO per share of $0.04), and the company raised the low end of its 2026 AFFO per share guidance to $0.31, underscoring robust cash flow generation and management’s confidence in its farmland portfolio. (Reuters)
During the first half of 2026, FPI realized net gains of $3.3 million from the disposition of two properties (including a $3.5 million gain on the sale of an Illinois farm to a solar developer), demonstrating effective capital recycling and value creation. (TradingView News)
In Q1 2026, operating revenue fell 1.5% year-over-year to $10.1 million while net income and AFFO also declined, signaling pressure on top-line growth from lower solar lease income and portfolio adjustments. (Reuters)
FPI lowered its full-year 2026 AFFO per share guidance in April due to non-cash loan loss allowances, reflecting elevated credit risk and potential stress in its loan portfolio. (Reuters)
For the six months ended June 30 2026, total operating revenues declined 3.5% YoY (rental income down 7.6% and crop sales down 41.2%), while mortgage debt increased by $63 million to $223.9 million, elevating leverage and financial risk. (SEC 10-Q)
Data summarised monthly by Lightyear AI. Last updated on 29 Aug 2026.
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Funds containing FPI
Fund name | Fund size | $FPI weighting |
|---|---|---|
SPDR Russell 2000 US Small Cap€R2US | €4.8B | 0.02% |
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