Farmland (FPI) AI Stock Analysis

• Market Cap: $478.74M
• Dividend Yield: 12.8%
• Average Volume (3M): 440.90K
• Price to Earnings (P/E): 8.9
• Beta (1Y): 0.55
• Revenue Growth: -2.90%
• EPS Growth: 282.07%
• Country: US
• Employees: 23
• Sector: Real Estate
• Sector Strength: 46
• Industry: REIT - Specialty
• EPS (TTM): 0.14
• Shares Outstanding: 44,164,368
• 10 Day Avg. Volume: 363,648
• 30 Day Avg. Volume: 440,903
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 1.82
• Enterprise Value/Revenue: 15.85
• Enterprise Value/Gross Profit: 20.60
• Enterprise Value/Ebitda: 10.77
• 1Y Price Target: $12.00
• Price Target Upside: 10.50% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0

• Rating: 70 Outperform
• Price Target: $12.00 ▲(10.50% Upside)

Farmland Partners, Inc. shows strong valuation metrics with a low P/E ratio and high dividend yield, making it attractive for value and income investors. Financial performance is solid, though revenue growth is a concern. Technical indicators suggest a bearish trend, and the earnings call highlighted both strategic successes and significant challenges, particularly in California.

Farmland Business Overview & Revenue Model

Company Description

Farmland Partners Inc. (FPI) is a publicly traded real estate investment trust (REIT) that focuses on acquiring and managing high-quality farmland across the United States. The company operates primarily in the agricultural sector, investing in a diversified portfolio of farmland utilized for various crops, including row crops, fruits, and vegetables. FPI aims to provide investors with exposure to the agricultural sector while benefiting from the appreciation of farmland value and income generated from leases with farmers.

How the Company Makes Money

Farmland Partners generates revenue primarily through leasing farmland to farmers who cultivate the land and pay rent. The company employs a triple-net lease structure, where tenants are responsible for property taxes, insurance, and maintenance, thus providing a stable income stream for FPI. Additionally, FPI benefits from the appreciation of farmland value over time, which contributes to its overall asset value. The company also engages in the sale of farmland, which can generate capital gains. Strategic partnerships with agricultural operators and investors further enhance its revenue potential, allowing for more effective management and optimization of its farmland assets.

Farmland Financial Statement Overview

Summary

Farmland's financials reflect a company with strong operational profitability and reasonable leverage. While there are challenges in maintaining consistent revenue growth, the company efficiently manages its cash flows and maintains a healthy balance sheet.

Income Statement

The income statement shows a mixed performance. While there is a significant improvement in net income and profitability metrics like the net profit margin and gross profit margin have improved, the revenue has shown volatility with a recent decline. The EBIT and EBITDA margins are healthy, indicating strong operational efficiency.

Balance Sheet

The balance sheet reflects moderate financial health. The debt-to-equity ratio is reasonable but shows a reliance on debt financing. However, the equity ratio is solid, suggesting that the company is well-capitalized. Return on Equity is robust, indicating effective use of shareholder funds.

Cash Flow

Cash flow analysis indicates stable cash generation capabilities. Free cash flow growth is positive, although operating cash flow fluctuated. The company maintains a healthy operating cash flow to net income ratio, suggesting good cash conversion efficiency.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	58.23M	57.47M	61.21M	51.74M	50.69M
Gross Profit	46.92M	44.05M	47.05M	42.88M	39.95M
EBITDA	85.88M	31.36M	31.93M	24.52M	30.31M
Net Income	59.91M	30.91M	11.67M	9.99M	7.12M
Balance Sheet
Total Assets	868.56M	1.02B	1.16B	1.12B	1.09B
Cash, Cash Equivalents and Short-Term Investments	78.44M	5.49M	7.65M	30.17M	27.22M
Total Debt	203.88M	361.26M	437.20M	511.43M	506.72M
Total Liabilities	272.00M	391.19M	455.94M	528.94M	645.31M
Stockholders Equity	481.91M	515.88M	580.79M	458.31M	429.84M
Cash Flow
Free Cash Flow	16.14M	12.89M	12.80M	5.14M	17.07M
Operating Cash Flow	16.14M	12.89M	17.05M	7.86M	19.73M
Investing Cash Flow	268.75M	158.46M	-60.40M	-18.77M	18.67M
Financing Cash Flow	-211.94M	-173.51M	20.83M	13.87M	-23.74M

Farmland Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 10.86
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FPI, the sentiment is Positive. The current price of 10.86 is above the 20-day moving average (MA) of 10.74, below the 50-day MA of 11.10, and below the 200-day MA of 11.02, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 49.02 is Neutral, neither overbought nor oversold. The STOCH value of 68.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FPI.

Farmland Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RYN	75 Outperform	$4.11B	11.39	36.96%	10.94%	9.90%	137.73%
FPI	70 Outperform	$478.74M	8.87	14.30%	12.80%	-2.90%	282.07%
PCH	67 Neutral	$3.34B	81.82	2.07%	4.23%	-1.15%	14.51%
WY	67 Neutral	$19.00B	68.53	2.85%	3.15%	-6.57%	-62.32%
Sector *	63 Neutral	$6.93B	13.52	-0.57%	7.16%	3.62%	-22.63%

Farmland Corporate Events

Farmland Faces Shareholder Rejection on Executive Pay

At the Annual Meeting of Stockholders on May 6, 2025, Farmland Partners Inc. presented four proposals for consideration. The proposals included the election of six director nominees, ratification of Crowe LLP as the accounting firm, an advisory vote on executive compensation, and an amendment to the equity incentive plan. Notably, the proposal on executive compensation did not pass, prompting the company to engage further with stockholders to align management incentives with shareholder interests.