Farmland Partners 2023 net income $31.7M ($0.55/shr); AFFO $0.16/shr; sold $195.5M in assets

Farmland Partners Inc.

2023-FY EPS reported $0.53 revenue$57,466,000

Net income $31.7M ($0.55/shr) vs $12.0M ($0.16/shr) in 2022, up 164.9%.
AFFO $8.1M ($0.16/shr) vs $15.8M ($0.30/shr) in 2022, down 48.4%.
Disposed 74 properties for $195.5M, recognized gain $36.1M; used proceeds for buybacks and debt reduction.
Repurchased 6.55M shares at $11.00/sh avg; reduced debt by $76.4M to $363.1M.
Renewed leases on 14% of revenue at avg rent increase of ~20%.

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 the year ended December 31, 2023.

Period: the year ended December 31, 2023
Result: reported results

Exact text from the filing

On February 28, 2024, Farmland Partners Inc. (the “Company”) issued a press release announcing its financial position as of December 31, 2023, results of operations for the year ended December 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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Farmland Partners Inc. filing history →

Source: SEC EDGAR

accession 0001558370-24-001994

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