Farmland Partners reports Q2 adjusted FFO 1c, consensus 1c

Reports Q2 revenue $11.4M. The company said, “We enjoyed another strong performance of our core business in the second quarter thanks to the portfolio improvements and reduction in debt resulting from our portfolio disposition and acquisition activity in 2023, aided by a resilient farm economy. Moreover, we have enhanced our efficiency with cost saving initiatives that will benefit our operating performance in coming quarters. We continue to evaluate further opportunities for assets disposals in the remainder of the year, with the hope of generating proceeds to fund additional debt or preferred equity reductions and stock buybacks. We are optimistic that lower interest rates, improving capital markets, continued resiliency in the farm economy and a leaner corporate structure will continue to drive strong quarterly results, and that improved results will shrink the significant discount that our current stock price bears to our true intrinsic value.”