Farmland Partners (FPI) Company Report

Farmland Partners reported strong Q4 2025 Adjusted Funds From Operations (AFFO) of $11.4 million ($0.26 per share) and full-year 2025 AFFO of $17.9 million ($0.39 per share), with 2026 AFFO guidance ranging from $14.4 million to $16.4 million ($0.33-$0.37 per share).
The company increased its quarterly dividend by 50% to $0.09 per share.
FPI strengthened its balance sheet by repaying its Series A preferred units in cash and significantly reducing debt, resulting in $111.7 million in undrawn capacity on lines of credit as of February 19, 2026.
Strategic initiatives included the sale of its MWA subsidiary to simplify operations and a continued focus on disposing of California properties (excluding top-tier almond and tree nut assets) and other non-core holdings.

Feb 19, 2026, 4:00 PM

Transcript

Farmland Partners Reports Strong Full Year 2025 Results, Raises Dividend

FPI

Earnings

Dividends

Share Buyback

Farmland Partners Inc. reported full-year 2025 AFFO of $0.39 per share, exceeding its updated guidance of $0.34 per share, and net income of $0.65 per share.
The company's Board of Directors raised the quarterly cash dividend by 50% to $0.09 per share and declared a one-time special dividend of $0.20 per share in December 2025.
FPI significantly decreased total indebtedness by $43.0 million to $161.6 million at December 31, 2025, and repurchased 3,411,581 shares of common stock at a weighted average price of $11.07 per share.
During 2025, FPI completed dispositions of 60 properties for $90.2 million, recognizing a net gain on sale of $34.9 million, and acquired six properties for $7.3 million.

Feb 19, 2026, 4:00 PM

Presentation

Farmland Partners Reports Strong Q4 and Full Year 2025 Results, Increases Dividend, and Outlines Strategic Dispositions

FPI

Earnings

Dividends

M&A

Farmland Partners reported strong Adjusted Funds From Operations (AFFO) for Q4 and full year 2025, with $11.4 million (or $0.26 per share) for the quarter and $17.9 million (or $0.39 per share) for the full year, both higher than 2024.
The company increased its quarterly dividend by 50% to $0.09 per share and provided a 2026 AFFO guidance range of $14.4 million to $16.4 million (or $0.33 to $0.37 per share).
FPI strengthened its balance sheet by repaying Series A preferred equity in cash and reducing overall debt, which decreased interest expense by $9.2 million since October 2024.
The company sold its MWA subsidiary to simplify operations and reduce G&A expenses , and plans to continue disposing of assets, especially in California, while remaining bullish on Illinois properties.

Feb 19, 2026, 4:00 PM

Transcript

Farmland Partners Reports Strong Q4 2025 AFFO, Raises Dividend, and Provides 2026 Guidance

FPI

Earnings

Dividends

Guidance Update

Farmland Partners reported Adjusted Funds From Operations (AFFO) of $11.4 million or $0.26 per weighted average share for Q4 2025, and $17.9 million or $0.39 per weighted average share for the full year 2025, both exceeding prior year results.
The company increased its quarterly dividend by 50% to $0.09 per share.
For 2026, Farmland Partners projects AFFO to be between $14.4 million and $16.4 million, or $0.33 to $0.37 per share.
Strategic initiatives included strengthening the balance sheet through debt reduction, cash repayment of Series A preferred units, and the sale of its MWA subsidiary.
The company plans to continue asset dispositions, with a focus on gradually liquidating most California properties due to a negative outlook on the region.

Feb 19, 2026, 4:00 PM

Transcript

Farmland Partners Inc. Reports Full Year 2025 Results, Raises Dividend, and Improves Balance Sheet

FPI

Earnings

Dividends

Share Buyback

Farmland Partners Inc. reported net income of $32.2 million, or $0.65 per share, and AFFO of $17.9 million, or $0.39 per share, for the year ended December 31, 2025, exceeding its Q3 2025 updated AFFO guidance by $0.05 per share.
The company raised its quarterly dividend by 50% to $0.09 per share (annualized to $0.36 per share) and declared a one-time special dividend of $0.20 per share in December 2025.
FPI significantly reduced its total indebtedness by $43.0 million to $161.6 million at December 31, 2025, and subsequently redeemed the remaining 68,000 Series A preferred units for $68.2 million in February 2026, simplifying its balance sheet.
During 2025, FPI completed dispositions of 60 properties for $90.2 million, recognizing a net gain on sale of $34.9 million, and repurchased 3,411,581 shares of common stock at a weighted average price of $11.07 per share.

Feb 18, 2026, 9:05 PM

8-K

Farmland Partners Inc. Reports Full Year 2025 Results and Raises Dividend

FPI

Earnings

Dividends

Share Buyback

For the full year ended December 31, 2025, Farmland Partners Inc. reported net income of $32.2 million and Adjusted Funds From Operations (AFFO) of $17.9 million, or $0.39 per share, surpassing its Q3 2025 AFFO guidance.
The company increased its quarterly dividend by 50% to $0.09 per share and repurchased 3,411,581 shares of common stock at a weighted average price of $11.07 per share.
FPI reduced its total indebtedness by $43.0 million to $161.6 million by December 31, 2025, and completed dispositions of 60 properties for $90.2 million, while acquiring six properties for $7.3 million.

Feb 18, 2026, 9:05 PM

Press Release

Farmland Partners Inc. Reports Q3 2025 Results, Raises 2025 AFFO Guidance, and Announces Special Dividend

FPI

Earnings

Guidance Update

Dividends

Farmland Partners Inc. reported Q3 2025 net income of $0.5 million ($0.00 per share) and AFFO of $2.9 million ($0.07 per weighted average share). For the nine months ended September 30, 2025, net income was $10.4 million ($0.18 per share) and AFFO was $6.5 million ($0.14 per weighted average share).
The company updated its 2025 AFFO guidance to a range of $14.5 million to $16.6 million, or $0.32 to $0.36 per share, an increase from the prior quarter.
FPI announced a planned special dividend for 2025, targeting a range of $0.18 to $0.22 per share to be issued in January 2026 alongside the regular dividend.
Key strategic actions include the sale of its Murray Wise Associates subsidiary, expected to close on November 15 , and the exchange of $31 million worth of CSA Preferred units for properties in Illinois, which appreciated by 56% over 10 years and is set to close on December 10.
Significant debt reductions resulted in a $3.2 million decrease in interest expense for the three months ended September 30, 2025, and $8.4 million for the nine months ended September 30, 2025. The company had approximately $159 million in full undrawn capacity on its lines of credit at the end of Q3 2025.

Oct 30, 2025, 3:00 PM

Transcript

Farmland Partners Inc. Reports Q3 2025 Results, Raises Guidance, and Announces Strategic Dispositions

FPI

Earnings

Guidance Update

M&A

Farmland Partners Inc. (FPI) reported net income of $0.5 million and AFFO of $2.9 million, or $0.07 per share, for the third quarter ended September 30, 2025.
The company increased its fiscal year 2025 AFFO guidance range to $0.32 to $0.36 per share, up from $0.28 to $0.34.
During the quarter, FPI repurchased 1,248,802 shares of its common stock at a weighted average price of $10.84 per share.
Subsequent to September 30, 2025, FPI entered into agreements to sell its brokerage and farm management business for $5.3 million and dispose of 23 properties in exchange for $31.0 million of Series A preferred units.
A quarterly cash dividend of $0.06 per share was declared, payable January 15, 2026, and a special dividend between $0.18 and $0.22 per share is projected for the year ended 2025, payable in January 2026.

Oct 30, 2025, 3:00 PM

Presentation

Farmland Partners Inc. Reports Third Quarter 2025 Results and Updates Guidance

FPI

Earnings

Guidance Update

M&A

Farmland Partners Inc. reported net income of $0.5 million and AFFO of $2.9 million, or $0.07 per share, for the quarter ended September 30, 2025.
The company increased its Fiscal Year 2025 AFFO guidance range to $0.32 to $0.36 from $0.28 to $0.34.
Subsequent to Q3 2025, Farmland Partners Inc. agreed to sell its brokerage and farm management business for $5.3 million and dispose of 23 properties for $31.0 million in exchange for Series A preferred units, reducing exposure from $99.0 million to $68.0 million.
During Q3 2025, the company repurchased 1,248,802 shares of its common stock at a weighted average price of $10.84 per share.
A special dividend for 2025 is projected to be between $0.18 and $0.22 per share, payable in January 2026.

Oct 29, 2025, 8:10 PM

Press Release

Farmland Partners Inc. Reports Third Quarter 2025 Results and Increased Guidance

FPI

Earnings

Guidance Update

M&A

Farmland Partners Inc. reported net income of $0.5 million, or $0.00 per share, and AFFO of $2.9 million, or $0.07 per share, for the third quarter ended September 30, 2025.
The company increased its fiscal year 2025 AFFO guidance range to $0.32 to $0.36 per share.
During the third quarter, FPI repurchased 1,248,802 shares of its common stock at a weighted average price of $10.84 per share and made $23.0 million in repayments against its lines of credit.
Subsequent to September 30, 2025, the company entered into a definitive agreement to sell its brokerage and farm management business for $5.3 million and expects to issue a special dividend for 2025 between $0.18 and $0.22 per share, payable in January 2026.