Farmland Partners' Q3 AFFO climbs, raises 2025 AFFO guidance

Overview

• Farmland Partners Q3 AFFO increases

• Company raises fiscal 2025 AFFO guidance, indicating confidence in future earnings

• Farmland Partners announces sale of brokerage and farm management business for $5.3 mln

Outlook

• Farmland Partners raises 2025 AFFO guidance to $0.32-$0.36 per share

• Company expects to issue a special dividend of $0.18-$0.22 per share for 2025

Result Drivers

• BROKERAGE SALE - Sale of brokerage and farm management business aligns with focus on farmland investments

• PROPERTY DISPOSITIONS - Completed 35 property sales for $85.5 mln, recognizing $24.5 mln gain

• FOREIGN TRADE CHALLENGES - Continued foreign trade challenges introduce uncertainty in U.S. agriculture

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the specialized reits peer group is "buy"

• Wall Street's median 12-month price target for Farmland Partners Inc is $12.00, about 14.3% above its October 28 closing price of $10.29

• The stock recently traded at 48 times the next 12-month earnings vs. a P/E of 63 three months ago

Press Release: ID:nBwfMlM4a

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)