Farmland Partners Inc. · NYSE:FPI
Farmland Partners — Q1 2016 Earnings Presentation
9 slides from Farmland Partners's earnings presentation, May 10, 2016
Slide 1: Forward-Looking Statements
Forward-Looking Statements 2 Some of the statements contained in this presentation, including statements regarding our portfolio development approach, our improvement projects and estimated costs and projected returns, our pending acquisitions and other investment opportunities, our future growth pr
Slide 2: Company Overview: Selected Statistics
3 Company Overview Selected Statistics As of March 31, 2016 2015 Acres owned 107,052 49,345 Farms owned 255 93 Tenants ~70 ~44 Employees 13 8 Portfolio value (closed total)(1) ~$580 million ~209 million ____________________ Sum of implied purchase price of IPO portfolio (i.e., debt assumed and value
Slide 3: Historical Financial Overview: Selected Metrics 1Q15 vs 1Q16
4 Historical Financial Overview Selected Metrics – 1Q15 Versus 1Q16 ($ in thousands) 1.98x 2014 total +123% +167% +224% +77% +103% +404% ____________________ Please refer to the appendix of this presentation for the reconciliation of operating revenue to crop year adjusted revenue Please see our ear
Slide 4: Historical Financial Overview: AFFO Per Share and Share Count
5 ____________________ (1) Quarterly AFFO per share is calculated by dividing the quarterly AFFO by the weighted average common shares outstanding, fully diluted (including common OP units), for such quarter. Please see our earnings press release for the quarter ended March 31, 2016 for further disc
Slide 5: Completed Improvement Projects Overview
6 Completed Improvement Projects Overview Project Detail, Cost and Estimated Return ____________________ (1) Estimated Return reflects the dollar value of contractually agreed rent increases on the applicable farm divided by the improvement cost on the applicable farm, expressed as a percentage. We
Slide 6: In-Process Improvement Projects Overview
7 In-Process Improvement Projects Overview Budget, Status and Projected Return ____________________ (1) Represents estimates that are subject to change as project proceeds (2) Projected Return reflects the dollar value of expected rent increases on the applicable farm divided by the improvement cost
Slide 7: Appendix Reconciliation
8 Appendix Crop Year Adjusted Revenue Reconciliation
Slide 8: Appendix Reconciliation
9 Appendix Crop Year Adjusted Revenue Reconciliation(1) For the three months ended March 31, 2016 2015 Total operating revenues $4,692 $2,103 Crop year revenue adjustment 1,101 70 Crop year adjusted revenue $5,793 $2,173 In accordance with GAAP, rental payments are recognized as income on a straight
Slide 9: Appendix Reconciliation
Appendix Crop Year Adjusted Revenue Reconciliation For the three months ended March 31, Total operating revenues $4,692 $2,103 Crop year revenue adjustment 1,101 70 Crop year adjusted revenue $5,793 $2,173 e NYSE FPL