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Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to third-party farmers (both tenant and non-tenant) and landowners secured by farm real estate and/or other agricultural related assets. As of December 31, 2025, the Company owned and/or managed approximately 71,600 acres of farmland in 11 states, including Arkansas, California, Colorado, Illinois, Indiana, Louisiana, Missouri, Nebraska, South Carolina, Texas and West Virginia. In addition, the Company owns land and buildings for four agriculture equipment dealerships in Ohio leased to Ag Pro under the John Deere brand. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Farmland Partners Inc is a publicly traded REIT that acquires and manages U.S. agricultural land, leasing properties to farming operators for rental income. Long-term growth drivers include global food demand, limited arable land supply and potential land-value appreciation that could support rental growth and portfolio expansion, and investors may view the company as a source of income and inflation-sensitive diversification.
Key risks include weather and crop volatility, tenant credit and operating risks, sensitivity of land values and distributions to interest rates and leverage, and regulatory or policy changes affecting agriculture.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 32.16M | 61.43M | 31.52M | 12.19M | 10.23M |
| Minority interest | -0.63M | -1.54M | -0.48M | -0.29M | -0.27M |
| Net income | 31.55M | 59.91M | 30.91M | 11.67M | -6.05M |
| Selling general administrative | 11.72M | 15.72M | 12.55M | 14.88M | 18.38M |
| Gross profit | 33.58M | 46.92M | 44.05M | 47.05M | 42.88M |
| Reconciled depreciation | 4.17M | 5.59M | 7.79M | 6.96M | 7.63M |
| Ebit | 41.78M | 80.29M | 54.17M | 24.97M | 16.79M |
| Ebitda | 45.95M | 85.88M | 61.67M | 32.76M | 24.55M |
| Depreciation and amortization | 4.17M | 5.59M | 7.50M | 7.79M | 7.77M |
| Non operating income net other | - | - | - | 3.36M | 9.38M |
| Operating income | 23.05M | 25.50M | 23.86M | 24.97M | 16.79M |
| Other operating expenses | 29.12M | 32.72M | 33.61M | 36.12M | 34.90M |
| Interest expense | 9.63M | 18.85M | 22.66M | 16.14M | 15.93M |
| Tax provision | -0.01M | -0.02M | -0.08M | 0.23M | 0.00M |
| Interest income | 9.43M | 18.73M | 22.66M | 16.09M | 15.91M |
| Net interest income | -9.63M | -18.85M | -21.68M | -16.14M | -15.93M |
| Non recurring | - | - | - | 0.11M | 0.06M |
| Income tax expense | -0.01M | -0.02M | -0.17M | 0.23M | 16.28M |
| Total revenue | 52.18M | 58.23M | 57.47M | 61.21M | 51.74M |
| Total operating expenses | 10.53M | 21.42M | 20.20M | 21.97M | 26.04M |
| Cost of revenue | 18.60M | 11.30M | 13.41M | 14.16M | 8.86M |
| Total other income expense net | 9.10M | 35.93M | 7.66M | -12.79M | -6.55M |
| Net income from continuing ops | 32.17M | 61.45M | 20.64M | 11.96M | 10.23M |
| Net income applicable to common shares | 28.80M | 56.43M | 27.79M | 8.40M | -5.86M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 719.07M | 868.56M | 1022.00M | 1160.15M | 1121.53M |
| Intangible assets | 0.00M | 1.37M | 2.04M | 2.06M | 1.92M |
| Other current assets | -4.41M | 0.06M | 2.73M | 3.38M | 3.98M |
| Total liab | 181.09M | 272.00M | 391.19M | 455.94M | 528.94M |
| Total stockholder equity | 459.35M | 481.91M | 515.88M | 580.79M | 458.31M |
| Deferred long term liab | - | - | - | 0.04M | 0.04M |
| Other current liab | -1.07M | 66.41M | 25.89M | 18.37M | 16.68M |
| Common stock | 0.43M | 0.46M | 0.47M | 0.53M | 0.44M |
| Capital stock | 0.43M | 0.46M | 0.47M | 0.53M | 0.44M |
| Retained earnings | -62.33M | -72.05M | -64.53M | -70.40M | -66.62M |
| Other liab | - | - | - | 0.04M | 0.04M |
| Good will | 0.00M | 2.71M | 2.71M | 2.71M | 2.71M |
| Other assets | 627.05M | 3.26M | 978.02M | 1129.18M | 1065.81M |
| Cash | 9.29M | 78.44M | 5.49M | 7.65M | 30.17M |
| Total current liabilities | 0.17M | 68.13M | 29.93M | 18.73M | 16.72M |
| Current deferred revenue | 1.24M | 0.07M | 2.15M | 0.04M | 0.04M |
| Net debt | 151.89M | 125.44M | 355.77M | 429.55M | 481.26M |
| Short term debt | 0.00M | 24.99M | 2.10M | 0.33M | 0.11M |
| Short long term debt total | 161.18M | 203.88M | 361.26M | 437.20M | 511.43M |
| Other stockholder equity | 521.25M | 551.99M | 579.94M | 647.35M | 524.21M |
| Property plant equipment | 616.44M | 718.04M | 961.93M | 1106.24M | 1065.21M |
| Total current assets | 91.84M | 139.66M | 49.49M | 39.62M | 48.22M |
| Long term investments | 4.25M | 4.10M | 4.14M | 4.18M | 3.43M |
| Net tangible assets | - | - | - | 686.24M | 453.69M |
| Short term investments | - | - | 1.71M | 4.18M | 3.43M |
| Net receivables | 84.64M | 58.50M | 38.93M | 28.98M | 11.01M |
| Long term debt | 160.84M | 203.68M | 360.86M | 436.88M | 511.32M |
| Inventory | 2.32M | 2.66M | 2.33M | 2.81M | 3.06M |
| Accounts payable | - | - | 27.39M | 18.69M | -0.11M |
| Noncontrolling interest in consolidated entity | - | - | - | 13.22M | 13.76M |
| Accumulated other comprehensive income | - | 1.51M | 2.69M | 3.31M | 0.28M |
| Common stock total equity | - | - | - | 0.53M | 0.44M |
| Retained earnings total equity | - | - | - | -70.40M | -66.59M |
| Non currrent assets other | -620.65M | 720.52M | 963.24M | 1111.26M | 1065.15M |
| Non current assets total | 0.17M | 728.89M | 972.51M | 1120.53M | 1073.30M |
| Capital lease obligations | 0.17M | 0.19M | 0.40M | 0.33M | 0.11M |
| Long term debt total | 160.84M | 203.68M | 360.86M | 436.88M | 511.32M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | - | 268.75M | 64.89M | -18.70M | -4.66M |
| Change to liabilities | - | - | - | 0.16M | -0.38M |
| Total cashflows from investing activities | 63.40M | 268.75M | 158.46M | -60.40M | -18.77M |
| Net borrowings | -42.98M | -158.52M | -76.39M | -75.28M | 4.07M |
| Total cash from financing activities | -149.97M | -211.94M | -173.51M | 20.83M | 13.87M |
| Change to operating activities | - | - | - | -0.04M | -0.96M |
| Net income | 31.55M | 61.45M | 30.76M | 11.96M | 10.26M |
| Change in cash | -69.15M | 72.95M | -2.17M | -22.52M | 2.95M |
| Begin period cash flow | 78.44M | 5.49M | 7.65M | 30.17M | 27.22M |
| End period cash flow | 9.29M | 78.44M | 5.49M | 7.65M | 30.17M |
| Total cash from operating activities | 17.43M | 16.14M | 12.89M | 17.05M | 7.86M |
| Issuance of capital stock | 0.00M | 0.03M | 0.11M | 121.37M | 27.16M |
| Depreciation | 4.17M | 5.59M | 7.50M | 6.96M | 7.63M |
| Other cashflows from investing activities | 63.40M | 268.75M | 158.46M | 17.06M | 69.78M |
| Dividends paid | 63.74M | 24.60M | 15.48M | -14.64M | -16.41M |
| Change to inventory | 0.34M | -0.32M | 0.47M | 0.25M | -1.72M |
| Change to account receivables | -0.07M | 2.86M | 0.80M | -2.33M | -0.97M |
| Sale purchase of stock | -38.14M | -27.53M | -72.65M | -10.16M | -0.65M |
| Other cashflows from financing activities | -5.11M | -1.32M | -9.19M | 221.19M | 39.68M |
| Change to netincome | - | - | - | -0.89M | -7.48M |
| Capital expenditures | 7.84M | 19.39M | 5.83M | 58.76M | 83.89M |
| Change receivables | - | - | - | -2.45M | -1.07M |
| Cash flows other operating | - | - | - | 0.24M | -0.64M |
| Cash and cash equivalents changes | - | - | - | -22.52M | 2.95M |
| Change in working capital | -2.16M | 0.21M | 1.19M | -2.18M | -3.81M |
| Stock based compensation | 2.16M | 2.35M | 1.85M | 1.94M | 1.26M |
| Other non cash items | -18.29M | -53.45M | -28.41M | -1.62M | 0.14M |
| Free cash flow | 17.43M | 16.14M | 12.89M | 17.05M | 7.86M |
Sector: Real Estate Industry: REIT - Specialty
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| FPI Farmland Partners Inc |
- -% |
8.85 | 19.28 | 161.29 | 9.91 | 1.12 | 12.74 | 14.47 |
| AMT American Tower Corp |
0.21 0.11% |
189.00 | 32.36 | 28.09 | 7.66 | 23.20 | 12.04 | 19.89 |
| EQIX Equinix Inc |
41.79 4.13% |
1054.50 | 76.95 | 63.29 | 9.32 | 5.79 | 10.70 | 25.99 |
| DLR Digital Realty Trust Inc |
- -% |
180.10 | 56.86 | 120.48 | 11.76 | 3.21 | 14.41 | 23.95 |
| CCI Crown Castle |
-0.15 0.17% |
88.45 | 34.66 | 33.44 | 8.69 | 8.86 | 15.87 | 24.61 |
Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to third-party farmers (both tenant and non-tenant) and landowners secured by farm real estate and/or other agricultural related assets. As of December 31, 2025, the Company owned and/or managed approximately 71,600 acres of farmland in 11 states, including Arkansas, California, Colorado, Illinois, Indiana, Louisiana, Missouri, Nebraska, South Carolina, Texas and West Virginia. In addition, the Company owns land and buildings for four agriculture equipment dealerships in Ohio leased to Ag Pro under the John Deere brand. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014.
4600 South Syracuse Street, Denver, CO, United States, 80237-2766
720 452 3100
11
| Name | Title | Year Born |
|---|---|---|
| Mr. Paul A. Pittman | Exec. Chairman & CEO | 1962 |
| Mr. Luca Fabbri | Pres | 1969 |
| Mr. James Gilligan | Chief Financial Officer | NA |
| Mr. Richard Keck | VP of Operations | NA |
| Ms. Christine M. Garrison | Gen. Counsel & Sec. | NA |
| Mr. Phillip Hayes | VP of Marketing | NA |
| Mr. Luca Fabbri | President, CEO & Board Director | 1969 |
| Mr. Paul A. Pittman J.D. | Executive Chairman | 1962 |
| Ms. Christine M. Garrison J.D. | General Counsel & Corporate Secretary | 1979 |
| Ms. Susan M. Landi | CFO & Treasurer | 1977 |
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