Farmland Partners Inc. · REIT (real estate trust)

FPI

Low riskNext report: In 1 days (est.)

View price ↗

The short version

A high-quality, profitable business with shrinking sales.

Going well

Pays a 4.3% dividend yield
Profitable every year for 10 years
Brings in more cash than it spends

Watch out for

Revenue down 10.4% from the year before

Money moves

No insider buying or selling in the last 30 days
Institutions added 0.3% to their holdings in the quarter ending June 2026 (98 bought, 73 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$10.25-0.1% that day

Company value: $447M; Share price times all shares
Price vs profit (P/E): 20.1x; You pay about $20 for each $1 of yearly profit
Price vs sales: 8.7x; Company value is 8.7 times a year of sales
Dividend yield: 4.3%; Yearly dividend as a share of today's price
Cash vs value: 3%; Cash as a share of company value
Debt vs value: 36%; Debt as a share of company value

From FPI's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$9.4M-5.7% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $51.5M, down 6.4% from the 12 months before. Over 5 years, sales grew about 0.6% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of FPI. Starting points are the company's recent numbers.

Sales growth-6% a yearRecently: -6.4% a yearProfit margin50%Last 12 months: 49.8%P/E at the end20xToday: 20.1x. Many steady companies trade at 12x to 25xShare count change0% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$38M

Profit in 5 years$19M

Price these guesses point to$8.66-16% vs $10.25 todayAbout -3.3% a year, before dividends

What today's price needs: with a 50% margin and a 20x P/E, sales could shrink about 2.8% a year for 5 years and still match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

4/4Strong

PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.60.5%
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$17.4M
PassShare count not growingNot diluting owners. Falling means buybacks.+0.6% in 3 years

Revenue: $52.2M; -10.4% vs prior year
5-year growth: +0.6%/yr; revenue, per year
Total debt: $161.6M
Free cash flow: $17.4M; 33.4% of revenue

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+, debt under half of equity, gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Jul 29

Revenue: $9.4M; -5.7% YoY
EPS: $0.07; vs $0.14
Free cash flow: -$3.1M
Share count: -19.7%; vs a year ago

Insider rating

Last 90 days

No open-market insider buys or sells in the last 90 days.

Weekly insider trend

No trades to chart yet.

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 0.2
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Steady+0.3%

Institutions added 0.3% to their holdings. 98 bought, 73 sold.

Shares held by institutions23.5M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

-3.7%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

0.5x · $224.8M debt

Shares outstandingLatest reported

44M

Why low risk

Revenue down 10.4% from the year before

Earnings reports

Last 12

Next reportIn 1 days (est.)Estimated from the same quarter last year

Results filedJul 29
Results filedApr 29
Results filedFeb 18
Results filedOct 29, 2025
Results filedJul 23, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

No offerings, red flags or new big holders. Clean record.

Insider trades

Open-market buys and sells, last 90 days

No open-market buys or sells in 90 days. Grants and option exercises are left out.

"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.

Latest filings

Straight from SEC EDGAR

Quarterly reportJul 30 · Form 10-Q ↗Earnings resultsJul 29 · Form 8-K ↗

BoughtBruce J SherrickDirector

2,000 shares at $9.65 · $19K

+6% of holdings
Now owns 33,726 shares
Filed 1 day after trade

Jun 25Form 4 ↗

Quarterly reportApr 30 · Form 10-Q ↗Shareholder vote resultsApr 30 · Form 8-K ↗

Stock awardDanny D. MooreDirector

3,726 shares at $11.54 · $43K

+16% of holdings
Now owns 27,433 shares
Filed 2 days after trade

Apr 28Form 4 ↗

Stock awardBruce J SherrickDirector

3,726 shares at $11.54 · $43K

+13% of holdings
Now owns 31,726 shares
Filed 2 days after trade

Apr 28Form 4 ↗

Stock awardJohn A GoodDirector

3,986 shares at $11.54 · $46K

+26% of holdings
Now owns 19,086 shares
Filed 2 days after trade

Apr 28Form 4 ↗

Earnings resultsApr 29 · Form 8-K ↗5%+ holder update (passive)Mar 26 · Form SCHEDULE 13G/A ↗Proxy statementMar 17 · Form DEF 14A ↗DEFA14AMar 17 · Form DEFA14A ↗ARSMar 17 · Form ARS ↗

Shares withheld for taxesChristine M. GarrisonGeneral Counsel and Secretary

892 shares at $12.97 · $12K

-2% of holdings
Now owns 40,406 shares
Filed 1 day after trade

Mar 4Form 4 ↗

Shares withheld for taxesLuca FabbriPresident and CEO, Director

3,903 shares at $12.97 · $51K

-1% of holdings
Now owns 373,521 shares
Filed 1 day after trade

Mar 4Form 4 ↗

Source: SEC EDGAR filings. For informational purposes. Not investment advice.

Report a problem with this page