Farmland Partners Q2 net income $7.9M; AFFO turns negative; $44.4M farm sales

Farmland Partners Inc.

2023-Q2 EPS reported $0.15 revenue$24,256,000

Net income of $7.9M ($0.14/share) vs $3.0M ($0.04/share) YoY. AFFO of ($1.1M) vs $1.1M.
Completed 17 farm dispositions for $44.4M aggregate consideration with $11.1M gain.
Repurchased 4.14M shares at avg $11.37; YTD repurchases 5.71M shares.
Targeting additional farm sales of over $80M in H2 to reduce high-cost debt; lower-than-expected transaction volumes noted.
One farm acquisition for $8.9M; 11 farms under contract for ~$22M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Farmland Partners Inc. reported financial results for the three and six months ended June 30, 2023.

Period: the three and six months ended June 30, 2023
Result: reported results

Exact text from the filing

On July 26, 2023, Farmland Partners Inc. (the “Company”) issued a press release announcing its financial position as of June 30, 2023, results of operations for the three and six months ended June 30, 2023 and other related information.

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Source: SEC EDGAR

accession 0001558370-23-012303

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