Farmland Partners Q1 operating revenue and net income fall

Farmland Partners

29/04/2026 21:28

Corrects Q1 dividend to $0.09 from $0.36 in Key Details table

Overview

Operating revenue fell 1.5% yr/yr; net income and AFFO also declined

Company raised dividend 50% and redeemed Series A preferred units, eliminating dilution risk

Outlook

Company reduced 2026 AFFO per share guidance due to non-cash loan loss allowances

Farmland Partners says ongoing disruptions and near-term volatility impact agriculture industry

Result Drivers

PORTFOLIO ADJUSTMENTS - Disposed of a West Coast property to reduce exposure to higher-risk assets

BALANCE SHEET SIMPLIFICATION - Redeemed all Series A preferred units, eliminating dilution risk and simplifying capital structure

LOWER SOLAR LEASE INCOME - Decrease in income from a solar lease arrangement contributed to lower operating revenue

Company press release: ID:nBw6YgTcMa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Operating Revenue
$10.10 mln
Q1 EPS
$0.01
Q1 Net Income
$646,000
Q1 Adjusted FFO
$2.08 mln
Q1 Dividend
$0.09


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the specialized reits peer group is "buy"

Wall Street's median 12-month price target for Farmland Partners Inc is $12.50, about 8.3% above its April 28 closing price of $11.54

The stock recently traded at 51 times the next 12-month earnings vs. a P/E of 65 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)