Farmland Partners Inc. (NYSE: FPI) is an internally managed real estate company specializing in the ownership and acquisition of high-quality North American farmland. As of December 31, 2023, the company owned and/or managed approximately 171,100 acres across 16 states, including Arkansas, California, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Nebraska, North Carolina, Oklahoma, South Carolina, and Texas.
As of February 7, 2025, FPI’s stock closed at $11.81, reflecting a slight decrease of 0.17% from the previous day. Over the past 52 weeks, the stock has experienced a price change of +8.05%, with a beta of 0.72, indicating lower volatility compared to the broader market.
In 2023, Farmland Partners reported revenue of $57.47 million, a 6.19% decrease from the previous year’s $61.26 million. However, earnings saw a significant increase of 230.75%, reaching $27.79 million.
The company maintains a trailing twelve months (TTM) price-to-earnings (P/E) ratio of 36.76 and a forward P/E ratio of 12.05. Its price-to-book (P/B) ratio stands at 1.12. The enterprise value (EV) to EBITDA ratio is 28.73, and the EV to sales ratio is 16.43.
FPI offers an annual dividend of $1.39 per share, yielding approximately 11.77%. The ex-dividend date was January 2, 2025.
Analyst opinions on FPI are mixed. Scott Fortune of Roth MKM reiterated a “Buy” rating with a price target of $14.00 on October 4, 2024, suggesting potential upside. Conversely, John Massocca of B. Riley Financial lowered the price target to $11.50 while maintaining a “Hold” rating on September 9, 2024.
In summary, Farmland Partners Inc. has demonstrated strong earnings growth despite a decline in revenue. The company offers a substantial dividend yield and holds a diversified portfolio of farmland assets. Investors should consider the mixed analyst perspectives and the company’s valuation metrics when evaluating FPI as a potential investment.
Key Metrics & Risk
Based on 1256 trading days of close price data (daily returns, annualized using 252 trading days).
| Metric | Value |
|---|---|
| Latest Price | $10.33 |
| Day Change | $+0.05 (+0.49%) |
| 52-Week High | $10.48 |
| 52-Week Low | $10.25 |
| Volume | 364,300 |
| Metric | Daily | Annualized |
|---|---|---|
| Expected Return | 0.0134% | 3.44% |
| Risk (Std Dev) | 1.7819% | 28.29% |
| Total Return (period) | -3.11% | | First Price | $10.66 | | Period | 1256 days (start to 2026-06-05) |