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Farmland Partners Inc (FPI)



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Upturn Advisory Summary
06/30/2025: FPI (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $12.25
1 Year Target Price $12.25
1 | Strong Buy |
1 | Buy |
2 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 6.51% | Avg. Invested days 45 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 541.78M USD | Price to earnings Ratio 10.66 | 1Y Target Price 12.25 |
Price to earnings Ratio 10.66 | 1Y Target Price 12.25 | ||
Volume (30-day avg) 4 | Beta 0.88 | 52 Weeks Range 8.65 - 12.80 | Updated Date 06/30/2025 |
52 Weeks Range 8.65 - 12.80 | Updated Date 06/30/2025 | ||
Dividends yield (FY) 2.09% | Basic EPS (TTM) 1.08 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 107.15% | Operating Margin (TTM) 37.63% |
Management Effectiveness
Return on Assets (TTM) 1.74% | Return on Equity (TTM) 10.2% |
Valuation
Trailing PE 10.66 | Forward PE 161.29 | Enterprise Value 708285601 | Price to Sales(TTM) 9.58 |
Enterprise Value 708285601 | Price to Sales(TTM) 9.58 | ||
Enterprise Value to Revenue 12.54 | Enterprise Value to EBITDA 8.45 | Shares Outstanding 45990000 | Shares Floating 40749796 |
Shares Outstanding 45990000 | Shares Floating 40749796 | ||
Percent Insiders 10.6 | Percent Institutions 61.95 |
Analyst Ratings
Rating 2 | Target Price 12.25 | Buy 1 | Strong Buy 1 |
Buy 1 | Strong Buy 1 | ||
Hold 2 | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Farmland Partners Inc

Company Overview
History and Background
Farmland Partners Inc. (FPI) was founded in 2014. It is a real estate investment trust (REIT) focused on acquiring and managing high-quality farmland throughout North America. It has grown through acquisitions and organic growth.
Core Business Areas
- Farmland Acquisition: Acquiring diverse farmland across different geographic regions and crop types.
- Lease Management: Leasing farmland to farmers under various lease structures, generating rental income.
- Property Management: Managing and improving farmland assets to increase their value.
- Development: Participating in select farmland development projects to enhance productivity and value.
Leadership and Structure
The company is led by Paul Pittman (Chairman & CEO). The organizational structure comprises various departments, including acquisitions, property management, finance, and legal.
Top Products and Market Share
Key Offerings
- Farmland Leases: Leasing farmland to farmers is the primary revenue driver. Market share data is not readily available, but FPI is one of the largest publicly traded farmland REITs. Competitors include private farmland owners and other REITs like Gladstone Land Corp (LAND).
- Crop Sales: The company from time to time also sells crops grown on its farms. Competitors include other agricultural producers and suppliers. Market share data is not readily available.
Market Dynamics
Industry Overview
The farmland industry is characterized by increasing demand for food production, limited supply of arable land, and growing investor interest in agricultural assets. Technology and sustainability practices are also key drivers.
Positioning
Farmland Partners Inc. positions itself as a leading farmland REIT, offering investors access to the agricultural real estate market. Competitive advantages include its scale, diversification, and experienced management team.
Total Addressable Market (TAM)
The total value of US farmland is estimated to be in the trillions of dollars. FPI's market capitalization represents a small fraction of the TAM, suggesting significant growth potential.
Upturn SWOT Analysis
Strengths
- Large portfolio of diversified farmland
- Experienced management team
- Publicly traded REIT structure providing access to capital markets
- Diversified crop base minimizing risks associated with a single crop or region.
Weaknesses
- Reliance on lease income, susceptible to fluctuations in commodity prices
- Exposure to weather-related risks
- High debt levels
- Complex accounting due to lease structure
Opportunities
- Acquisitions of additional farmland
- Expansion into new geographic regions
- Development of value-added agricultural projects
- Increased demand for sustainable agriculture.
Threats
- Downturn in agricultural commodity prices
- Rising interest rates increasing borrowing costs
- Climate change and environmental regulations
- Competition from other farmland investors.
Competitors and Market Share
Key Competitors
- LAND
- AGM
- Private farmland owners
- Agricultural investment funds
Competitive Landscape
FPI is a significant player in the farmland REIT space, benefiting from its scale and access to capital. However, it faces competition from other REITs, private investors, and institutional funds.
Major Acquisitions
Rural American Resources
- Year: 2021
- Acquisition Price (USD millions): 325
- Strategic Rationale: Expanded FPI's farmland portfolio and diversified its geographic presence.
Growth Trajectory and Initiatives
Historical Growth: FPI's historical growth has been driven by acquisitions and same-farm lease revenue increases.
Future Projections: Future growth projections depend on various factors, including acquisitions, commodity prices, and interest rates. Analyst estimates should be consulted for detailed projections.
Recent Initiatives: Recent initiatives may include strategic acquisitions, partnerships, and sustainability programs.
Summary
Farmland Partners Inc. is a major farmland REIT that benefits from a large portfolio and experienced management. Its reliance on lease income and susceptibility to commodity price fluctuations present challenges. Strategic acquisitions and capitalizing on sustainability trends offer growth opportunities. External threats include climate change and competition.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company filings
- Analyst reports
- Industry publications
Disclaimers:
This analysis is for informational purposes only and does not constitute investment advice. Market share estimates are approximate. Financial data may be outdated; refer to official company releases for current information.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Farmland Partners Inc
Exchange NYSE | Headquaters Denver, CO, United States | ||
IPO Launch date 2014-04-11 | CEO, President & Non-Independent Director Mr. Luca Fabbri | ||
Sector Real Estate | Industry REIT - Specialty | Full time employees 23 | Website https://www.farmlandpartners.com |
Full time employees 23 | Website https://www.farmlandpartners.com |
Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to third-party farmers (both tenant and non-tenant) and landowners secured by farm real estate and/or other agricultural related assets. As of March 31, 2025, the Company owned and/or managed approximately 139,200 acres of farmland in 16 states, including Arkansas, California, Colorado, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Nebraska, North Carolina, Ohio, South Carolina, Texas and West Virginia. In addition, the Company owns land and buildings for four agriculture equipment dealerships in Ohio leased to Ag Pro under the John Deere brand. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014.
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