Overview

* Farmland Partners ( FPI ) reports Q2 net income of $7.8 mln vs loss last year

* Adjusted FFO beats analyst expectations, per LSEG data

* Co repurchased 2.1 mln shares, reduced debt by $23 mln

Outlook

* Company maintains 2025 AFFO per share earnings guidance unchanged

Result Drivers

* ASSET SALES - Co recognized $24.2 mln gain from sale of 32 properties, enhancing financial results

* SHARE REPURCHASES - Proceeds from asset sales used to repurchase 2.1 mln shares, reducing share count

* IMPAIRMENTS - Recorded $16.8 mln impairments on California properties due to crop and water issues

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $9.96

Operatin mln

g

Revenue

Q2 EPS $0.15

Q2 Net $7.79

Income mln

Q2 Beat $1.30 $0.04 (3

Adjusted mln Analysts

FFO )

Q2 $0.06

Dividend

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the specialized reits peer group is "buy"

* Wall Street's median 12-month price target for Farmland Partners Inc ( FPI ) is $11.75, about 3.9% above its July 22 closing price of $11.29

* The stock recently traded at 62 times the next 12-month earnings vs. a P/E of 100 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)