Farmland Partners Inc. (FPI) AI Stock Analysis

Farmland Partners Inc. operates as an internally managed real estate company specializing in North American farmland. Its strategy centers on acquiring and optimizing agricultural land assets, as well as extending secured loans to farmers backed by farm real estate collateral. The company owns approximately 155,000 acres across 16 states, including California, Illinois, Florida, and Colorado. Farmland Partners manages a wide variety of crop types and leases its acreage to more than 100 tenants. Operating as a real estate investment trust since 2014, the firm distributes taxable income to shareholders under favorable tax treatment while expanding its agricultural real estate holdings.

Farmland Partners delivered a 5-year revenue CAGR of 0.6% from FY2020 to FY2025. Annual revenue expanded from $51.7M in FY2021 to a peak of $61.2M in FY2022, before falling 10.4% to $52.2M in FY2025. Gross margin contracted to 64.4% in FY2025, while operating margin rose to 44.2%. Net income reached $31.5M in FY2025, down from $59.9M in FY2024. For the trailing twelve months ended June 30, 2026, revenue stood at $51.1M with a profit margin of 50.2%. In the latest quarter ended June 30, 2026, quarterly revenue fell 5.5% year-over-year, and quarterly earnings decreased 50.2%.

As of June 30, 2026, Farmland Partners held $11.4M in cash and short-term investments alongside $224.3M in total debt, resulting in net debt of $212.9M. Shareholders' equity was $460.0M against total assets of $699.8M, yielding a debt-to-equity ratio of 0.49 and a current ratio of 986.64. In FY2025, the company generated $17.4M in free cash flow, which was identical to operating cash flow. Capital deployment in FY2025 included $7.8M in capital expenditures, $38.1M in share buybacks, and $63.7M in dividends paid.

At a last close of $10.35 on October 16, 2026, Farmland Partners carried a market capitalization of $454.6M and an enterprise value of $683.7M. The stock trades at a trailing P/E of 20.3x, compared to 21.6x for the median of its US-listed Real Estate peers. Its forward P/E of 161.3x is substantially higher than the peer median of 23.5x, while its EV/EBITDA of 17.0x trades above the peer median of 14.7x. Over the past year, FPI generated a return of 5.1%, trailing the S&P 500 (SPY) return of 16.8%.

Farmland Partners pays a quarterly dividend with an annualized forward payout of $0.36 per share, representing a 3.48% dividend yield. The company has paid dividends for 13 consecutive years, achieving an annualized 5-year dividend growth rate of 17.1%. Its dividend payout ratio stands at 97.1%, and the last ex-dividend date was October 1, 2026.

Wall Street coverage includes 2 Hold ratings, with 0 Buy and 0 Sell recommendations. The mean price target is $10.50, implying an upside of 1.4% from the last close of $10.35. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $45.2M and EPS of $0.23, representing a projected 61.5% drop in EPS. The company beat EPS estimates in 3 of the last 4 quarters, and its next earnings date is November 4, 2026.

This page is an AI-written research summary of Farmland Partners Inc. (FPI). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: FPI income statement, FPI balance sheet, FPI key metrics, FPI analyst forecast, FPI chart. See the FPI stock overview for the latest quote and news.