Business
Farmland Partners Inc. Reports Full Year 2024 Results
DENVER, February 19, 2025--Farmland Partners Inc. (NYSE: FPI) ("FPI" or the "Company") today reported financial results for the year ended December 31, 2024.
About this update from Farmland Partners Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":240,"url":"https://media.zenfs.com/en/business-wire.com/33fa0025a1534bfa7daf1158ad6430e1"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/WYOXPtv.AfODXMSRl.x7ww--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQ4MDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/33fa0025a1534bfa7daf1158ad6430e1","width":480,"height":240}},"lazy":false},{"type":"text","content":"Significant Reduction in Leverage and over 80% increase in AFFO per Share Year over Year","length":88,"tagName":"p","attribs":{}},{"type":"text","content":"DENVER, February 19, 2025--(BUSINESS WIRE)--Farmland Partners Inc. (NYSE: FPI) ("FPI" or the "Company") today reported financial results for the year ended December 31, 2024.","length":194,"tagName":"p"},{"type":"text","content":"Selected Highlights","length":19,"tagName":"p"},{"type":"text","content":"During the year ended December 31, 2024, the Company:","length":53,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"recorded net income of $61.5 million, or $1.19 per share available to common stockholders, compared to $31.7 million, or $0.55 per share available to common stockholders for the same period in 2023;","length":198,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"recorded AFFO of $14.1 million, or $0.29 per share, compared to $8.1 million, or $0.16 per share, for the same period in 2023;","length":126,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"completed 54 farm dispositions for $312.0 million in aggregate consideration and total gain on sale of $54.1 million, including $2.1 million in connection with properties sold in 2023 for which the gain was deferred;","length":216,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"completed acquisitions of four properties for total consideration of $17.9 million;","length":83,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"repurchased 2,240,295 shares of its common stock at a weighted average price of $12.25 per share;","length":97,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"decreased total indebtedness by $158.5 million (repaid $189.4 million of debt with a weighted average interest rate of 5.77% in the...