Farmland Partners Q1 AFFO rises 80% to $2.8M; raises FY2024 AFFO guidance

Farmland Partners Inc.

2024-Q1 EPS reported $0.01 revenue$11,990,000

Net income $1.4M ($0.01/share) vs $1.7M in Q1 2023; revenue down 5.4% to $12.0M.
AFFO grew to $2.8M ($0.06/share) from $1.6M; record first-quarter AFFO.
Raised FY2024 AFFO guidance to $0.19-$0.26 per share from $0.15-$0.23.
Acquired three properties for $16.3M; total real estate book value fell 12.2% to $1.00B.
Q1 included ~$1.2M in forfeited deposit income from terminated repurchase agreement.

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 0.95

Farmland Partners Inc. reported quarter ended March 31, 2024 results: revenue $11,990, net income $1,408, EPS $0.01. Guidance raised.

Period: quarter ended March 31, 2024
Revenue: $11,990
Net income: $1,408
EPS: $0.01
Guidance: raised
Result: reported results

Exact text from the filing

share $ 0.06 $ 0.03 100.0 % Adjusted EBITDAre (2) $ 8,582 $ 7,088 21.1 % Operating Results: Total Operating Revenues $ 11,990 $ 12,672 (5.4) % Net Operating Income (NOI) $ 9,651 $ 9,544 1.1 % NM = Not Meaningful (1) Basic net income per share available to common stockholders. See “Note

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Source: SEC EDGAR

accession 0001558370-24-006266

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