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.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-02-19 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Reported FFO / AFFO / leverage are from the Q1 2026 earnings release (filed 2026-04-29) — 8-K, EX-99.1 ✓ Verified to filing.
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.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
Model FPI yourself — any amount, shares, per-payment & a multi-year DRIP projection →
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
Recent regular dividends per share (special distributions excluded), oldest → newest.
| 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 | Quarterly |
| 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).
Recent news — FPI
Farmland Partners (FPI) Q1 FFO and Revenues Beat Estimates
Farmland Partners Inc. Reports First Quarter 2026 Results
Farmland Partners Inc. Announces Date for First Quarter 2026 Earnings Release and Conference Call
Accordant Advisory Group Inc Grows Stake in Farmland Partners Inc. $FPI
REITs: A Regime Change Is Needed
Headlines via Financial Modeling Prep; links open the original publisher in a new tab. Not an endorsement or investment advice.
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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.