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June 03, 2015 4:40 PM ET

Real Estate Management and Development

Company Overview of Farmland Partners Inc.

Company Overview

Farmland Partners Inc., a real estate company, owns and seeks to acquire primary crop farmland located in agricultural markets throughout North America. As of March 19, 2015, the company owned 93 farms with an aggregate of approximately 49,346 acres in Arkansas, Colorado, Illinois, Louisiana, Mississippi, Nebraska, and South Carolina. Farmland Partners Inc. was founded in 2013 and is based in Westminster, Colorado.

8670 Wolff Court

Suite 240

Westminster, CO 80031

United States

Founded in 2013

7 Employees

Phone:

720-452-3100

Key Executives for Farmland Partners Inc.

Executive Chairman, Chief Executive Officer and President
Age: 51
Total Annual Compensation: $333.3K
Chief Financial Officer, Treasurer and Secretary
Age: 45
Total Annual Compensation: $166.7K
Compensation as of Fiscal Year 2014.

Farmland Partners Inc. Key Developments

Farmland Partners Inc. Declares First Quarter Dividend Payable on April 15, 2015

On February 25, Farmland Partners Inc.'s Board of Directors declared a first quarter dividend of $0.116 per share payable on April 15, to all stockholders of record on April 1. On an annualized basis, this dividend equates to $0.464 per share, which represents an annual distribution rate of 3.90%.

Farmland Partners Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Full Year of 2015

Farmland Partners Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total operating revenues of $2,103,491 against $685,651 a year ago. Operating income was $575,945 against $469,164 a year ago. Net loss was $196,578 against net income of $134,590 a year ago. Net loss attributable to the company was $156,441. Net loss available to common stockholders of company was $181,297. Basic and diluted net loss available to common stockholders was $0.02. FFO was negative $23,648 against FFO of $174,485 a year ago. AFFO was $366,126 against $174,485 a year ago. AFFO diluted weighted average per share was $0.04. EBITDA was $748,875 against $509,059 a year ago. Adjusted EBITDA was $1,138,649 against $509,059 a year ago. For 2015, the company’s operating and financial performance is on track with management’s expectation of AFFO per fully diluted weighted average share of approximately $0.58 - $0.62 for the full year. The company’s estimate is based on the key assumptions. Total AFFO revenues of approximately $15.7 million to $16.5 million. Interest expense of approximately $4.6 million to $4.8 million.

Farmland Partners Inc. Presents at HighQuest Partners, LLC's 7th Annual Global AgInvesting Conference, Apr-27-2015 through Apr-30-2015

Farmland Partners Inc. Presents at HighQuest Partners, LLC's 7th Annual Global AgInvesting Conference, Apr-27-2015 through Apr-30-2015. Venue: Waldorf Astoria, 301 Park Avenue, New York, NY 10022, United States. Presentation Date & Speakers: Apr-29-2015, Paul A. Pittman, Executive Chairman, Chief Executive Officer and President.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 6, 2015
Three Farms in Mississippi and Nebraska
Merger/Acquisition
March 13, 2015
Northeast Nebraska Farms, Nebraska Battle Creek Farms and One Farm in Colorado
Merger/Acquisition
February 26, 2015
Two Farms in South Carolina and Arkansas Totaling 1,436 Acres
 

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