Farmland partners inc. reports second quarter 2021 results

Denver, aug. 4, 2021 /prnewswire/ -- farmland partners inc. (nyse: fpi) ("fpi" or the "company") today reported financial results for the three and six months ended june 30, 2021. selected 2021 highlights during the six months ended june 30, 2021, the company: experienced strong farmland values with accelerating appreciation, especially in row crop regions; showed substantial increases in lease renewal rates so far, reflecting increased farmer profitability; recorded net income of $(0.4) million, $4.2 million excluding litigation-related items1, compared to $0.6 million, $1.4 million excluding litigation related items2 for the same period in 2020; recorded affo of $(5.3) million, $(0.6) million excluding litigation-related items1, compared to $(1.8) million, $(1.0) million excluding litigation related items2 for the same period in 2020; completed four acquisitions, for total consideration of $29.9 million; completed fifteen property dispositions, for total consideration of $28.3 million and total gain on sale of $3.5 million; retained property management for ten out of fifteen disposed properties, growing the off-balance sheet asset management business to $21.5 million of aum; sold 1,954,293 shares of common stock at an average price of $13.11 for aggregate net proceeds of $25.4 million under the atm program; and reached settlement with quinton mathews regarding the falsity of claims that were used to launch the "short and distort" scheme targeting fpi, its management, and its stockholders (fpi press release).
FPI Ratings Summary
FPI Quant Ranking