Farmland Partners Q1 net income $0.02/share, AFFO $0.03; plans $79-84M in asset sales

Farmland Partners Inc.

2023-Q1 EPS reported $0.02 revenue$12,672,000

Net income of $1.7M ($0.02/share) vs $1.1M ($0.00/share) YoY; AFFO of $1.6M ($0.03/share) vs $2.1M ($0.04/share).
Repurchased 1.46M shares at avg $9.99 in Q1; additional 1.18M at $10.75 after quarter-end.
Post-quarter, 11 farms under contract for ~$42M (gain $9-11M); planned auctions for $37-42M.
Total operating revenues $12.7M (down 8.8% YoY); operating income $4.8M (up 12.0%).
Liquidity of $159.2M; completed one farm acquisition ($8.9M) and three dispositions ($3.3M).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Farmland Partners Inc. reported financial results for three months ended March 31, 2023.

Period: three months ended March 31, 2023
Result: reported results

Exact text from the filing

On May 3, 2023, Farmland Partners Inc. (the “Company”) issued a press release announcing its financial position as of March 31, 2023, results of operations for the three months ended March 31, 2023 and other related information. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

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Source: SEC EDGAR

accession 0001558370-23-007858

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