Financial PerformanceThe company reported AFFO numbers with a 38.3% decrease year-over-year, which was in-line with consensus estimates but lower than some estimates.
Net Asset ValueNet asset value (NAV) was down 4.2% to $14.91 mainly due to lower valuations of farms.
Underperforming Farms21 underperforming farms have impacted revenue, and though some are expected to be resolved or sold, soft prices have negatively affected pistachio and almond farms.