Farmland Partners Inc. (FPI) Stock

Farmland Partners Inc. (FPI) is a Real Estate stock trading at $10.15 (as of 2026-08-21), with a market capitalization of $442.85M and a trailing P/E of 17.3. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Farmland Partners Inc. is a real estate company that owns and seeks to acquire farmland in North America. It also makes loans to farmers secured by farm real estate, and operates with farmland holdings across multiple U.S. states and numerous tenants and crop types, with REIT taxation for U.S. federal income tax purposes.

Understand Farmland Partners Inc.: how it makes money

Farmland Partners Inc. owns and seeks to acquire North American farmland and also makes loans to farmers secured by farm real estate, it earns revenue tied to farmland and tenant activities, including crop sales and tenant reimbursement.

The profit engine is the combination of ongoing farmland income linked to tenant leases (reflected in lease renewals), plus results from property dispositions (reflected in property disposition counts).

Revenue by segment (latest quarter)
Crop Sales$0.0B
Tenant Reimb.$0.0B
Other$0.0B

Business quality (Weak): As an internally managed farmland owner and lender, the company tracks tenant practice adoption (soil health, conservation tillage, federal conservation program participation) and lease renewals, and it also reports property dispositions, the latest quarter shows an operating margin of 6.5% while revenue is reported as 0.0B.

Valuation: At 17× earnings, FPI trades 51% below the Trading average (34×). Note: one-time items can distort reported P/E.

Bull case

  • High tenant practice adoption, 97% of tenants investing in improving soil health, and 94% of row crop tenants practicing conservation tillage: This suggests tenants are actively engaging with farming practices that are measurable in company reporting.
  • Lease durability signal, lease renewals percentage is 60%: A higher renewal rate can support steadier underlying income from farmland operations.

Bear case

  • Exposure to farming and credit risks because the company makes loans to farmers secured by farm real estate: If tenant borrowers face issues, loan performance could be affected.
  • Results can depend on selling assets, with 32 number of property dispositions reported and 32 completed property dispositions: A reliance on dispositions can make results more variable versus purely recurring cash flows.
Valuation — source: SEC EDGAR (first-party)
Price$10.15
Market Cap$442.85M
P/E Ratio17.3
EV / EBITDA22.1
Price / Book0.96
Price / Sales8.60
DCF Value (model)$23.86
DCF Upside vs Price135.1%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$52.18M
Net Margin60.5%
Revenue Growth (YoY)-5.7%
EPS Growth (YoY)-53.3%
Valuation vs Sector & Industry
Stock P/E17.3
Sector P/E (Real Estate)27.2
Industry P/E (Trading)35.3
vs Sector-36.5%
vs Industry-51.1%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($43.23M)
Institutional Holders Tracked10
Congressional Trades (recent)2
Company
SectorReal Estate
IndustryTrading
CEOLuca Fabbri
Employees23
CountryUS
IPO Date2014-04-11

Related Companies (Business model: Equity REIT (Real Estate Investment Trust); 8 closest by market cap; US-domiciled)

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FPI earnings history · FPI institutional & insider holders · FPI KPIs & operating metrics · FPI financials · FPI investor presentations & press releases · FPI SEC filings · FPI peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.